San Ramon CA Real Estate

Local Real Estate Statistics for San Ramon CA

Bay Area home sales up almost 23% in July 2012 - over July of 2011 and the median home price rose about 1%. Distressed property sales (foreclosures & short sales) continue to decline. In Contra Costa County sales volume and the median home price were both up about 19%. Community Alamo Danville Danville Diablo San Ramon San Ramon Walnut Creek Walnut Creek Walnut Creek Walnut Creek Zip Sales % Chg 94507 94506 94526 94528 94582 94583 94595 94596 94597 94598 38 45 61 2 79 58 43 24 33 42 Median Price % Chg High Price % Chg 18.3% 1.3% 6.0% 141.3% 8.2% 6.6% 26.6% -14.8% 37.6% 13.6% $2,325,000 0.4% $1,795,000 0.4% $1,950,000 -3.0% $4,825,000 111.1% $1,377,500 3.9% $1,039,500 4.3% $865,000 -1.3% $1,650,000 -5.4% $772,000 -0.5% $1,430,000 -4.3%

123.5% $1,165,000 0.0% $880,000 10.9% $799,500 100.0% $4,825,000 -3.7% $787,500 7.4% $530,000 -12.2% $482,500 -36.8% $417,500 37.5% $406,000 13.5% $704,500

Current MLS Home Stats for San Ramon CA

Active Listings - 76 Homes for Sale - 15 Potential short Sales - 4 Foreclosures 224 Pending Sales 311 Homes Sold in last 90 days - 77 Short Sales - 24 Foreclosures

Average days on market for homes sold in San Ramon over the last 90 days was 24 (0 to 414 days). San Ramon homesellers are receiving over 99% of their asking price.

Current MLS Home Stats for Danville CA

Active Listings - 111 Homes for Sale - 13 Potential short Sales - 4 Foreclosures Pending Sales - 134 239 Homes Sold in last 90 days - 32 Short Sales - 14 Foreclosures

Average days on market for homes sold in Danville over the last 90 days was 42 (0 to 535 days). Danville homesellers are receiving over 96% of their asking price. San Ramon CA is a hot market for real estate, a result of all the hiring going on at Bishop Ranch. Danville is a higher priced housing market. We can see how home price is affecting local home

sales by comparing these two next-door communities - less inventory and more pending sales in San Ramon, Record low interest rates are a significant motivation for purchasing a home. As the election draws near, potential home buyers need to keep in mind that mortgage rates are one factor in the equation that could rise.

Who's Buying & Selling in & San Ramon These Days?

Real estate prices and home values are on the rise in most parts of the East Bay including Danville and San Ramon, CA, but don't throw a party yet. There are still a few situations here and there where a home may sell for a bit less, but with the shortage of homes for sale in Danville and San Ramon, multiple offers and 100% of asking price (+ or - a percent or two) are today's normal.

Low inventory of homes for resell are the result of too many homeowners with underwater mortgages (40% to 50% of homeowners are underwater). As homeowners wait patiently for home values to rise to a level where it makes sense for them to sell, the majority of home sales continues to involve first-time buyers, investors and relocation clients. Homebuyers moving into San Ramon & Danville are having to deal with an inventory of homes that includes short sales, foreclosures, new home inventory and resales from homeowners moving out of the area. What's missing? The move-up buyer. Move-up buyers usually account for over 50% of a normal housing market. If you recall, it wasn't so many years ago that homeowners would move-up every 7 years or so. It may be another 2 to 5 years before many homeowners in Danville and San Ramon decide to sell. Middle of the market homeowners approaching retirement age that pulled substantial equity out of their homes from 2000 - 2006 may not be able to sell to downsize or move to their retirement dream home for a few lmore years. Million dollar plus homes are not immune either. Affluent homeowners have taken advantage of historically low mortgage rates to strengthen their position to wait for positive equity to return. For the next few years, the vibrancy of the Danville and San Ramon, California housing markets is leaning toward new construction, such as, the recently announced the North Camino Ramon Specific Plan which will include 1,124 housing units in the Bishop Ranch area of San Ramon.