Inventory levels of single family detached homes in San Ramon continue to drop as we move into late fall.
The inventory absorption rate for single family detached homes in San Ramon is now less than 2 weeks which is consistant with the downward trend highlighted in my last San Ramon real estate blog. We see this trend continuing through year end and even through the first quarter of 2010. From a buyers perspective, the current market has created an environment where multiple offers are the norm. Especially in those homes priced under $800K. We are seeing fewer and fewer bank owned homes coming on the market and many banks are now working with potential short sale sellers to try and keep them in their homes via a loan modification. Because of the drop in home prices over the last few years we are seeing many sellers postpone the sale of thier homes until the home prices come back. I personall don’t think we willsee prices back to pre2006 levels for several years. So if you want to sell NOW IS THE TIME. Especially if the current value of your home is less than $800K.
Current San Ramon Statistics:
As of today there are only 75 active listings for single family detached homes in San Ramon. The average list price for these active listings is $978,516 with a high of $4,990,000 and a low of $375,000. The average price per square foot is $410 and the average days on market is 74. There are 184 pending sales with an average list price of $745,889. The highest priced pending was listed at $1,700,000 and the lowest at $315,000. The average price per square foot is at $292 and the average days on market at 41 days.
