August 2022 San Ramon Housing Market update
August 2022 Housing Market Update - San Ramon California
Hey there San Ramon!
July numbers just came in and, whether you’re thinking about buying or selling Real Estate in San Ramon California, here’s what I think you need to know about the market!
Weve been on a bit of roller coaster, from Pandemic to Inflation and the July numbers are out to tell us the story. Stock market is seeing some rebound and mortgage interest rates are coming down slightly. Before we talk about things like pricing, and days on market, its important to keep in mind that any pricing or days on market is really just telling us the story of what happened about @30 days before that number becomes a data point. So, first let’s talk about the leading indicator data points- these are trends to watch,
Inventory In July 2022 San Ramon California had 112 homes on the market, up slightly since June 2022 when they were 100 homes on the market and up a stunning 155% since July 2021 when we had just 44 homes on the market for sale
Homes going under contract San Ramon saw 52 homes go into escrow in July 2022. Up from 44 homes in June 2022 and down 28% from this time last year when there were 72 homes in escrow.
Absorption is a great indicator of buyer demand and the balance between buyer and seller. Technically, it can be defined as the amount of time it would take for all of the inventory to sell if the buyer demand remained constant and no new buyers came to market and no new listings came to market. In San Ramon, July showed 2.7 months of inventory slightly up from 2.6 months in June and had a crazy jump of 439% since this same time last year. In July 2021 we had .5 months of inventory!!!
Now, let’s take a look at the Lagging indicators to see “Where we’ve been”
Total Sales July 2022, had 42 homes sell to new families, the same as June 2022 and down 53% since July 2021 when we had 89 home sell.
Median Days on Market We’ve never had high market times in the East Bay but it still tells a picture about how long it takes for buyer and seller to come together and create a deal. In July 2022 the Median Days on Market was 23 Days. Which was significantly higher than June 2021 at 13 days and more than triple what it was in July 2021 at 7 days.
Median Sale Price For Single Family homes in San Ramon, Median Sale Price in July 2022 was $1,898,000, down almost 4% from last month but still up 11% from this time last year at $1,71M.
And lastly, this is the amount of the list price that buyer’s are agreeing to pay for a home
Sell Price to List Price In July 2022, this number was down to 98% and we haven’t seen this dip below 100% since 2019!!
Buyers are sellers ARE coming together and making deals to buy and sell their homes. If you want to learn more about your area specifically or you’d like to discuss how this impacts your Real Estate decision, Just reach out to us below for a FREE discovery call.