Housing Inventories Continue to Fall in Dublin & San Ramon

Is the market turning in San Ramon & Dublin California? Active listings in Dublin and San Ramon continue to fall as pending sales continue to rise. 

Dublin California's housing inventory fallen way below January 2007's low point (blue line is active listings). Pending sales in Dublin continue to climb aggressively. If this continues, housing inventory in Dublin will soon reach the 2 month level or lower.

Traditionally, this would result in a seller's market in Dublin. But, this is anything but a normal market. The shadow inventory of foreclosures is just one of the factors needing to be considered. Shadow inventory is the number of foreclosed properties being held off the market by banks and lenders. Some of the banks and lending institutions have reduced the number of foreclosures entering the market to help support home values instead of continuing to dump foreclosures on the market which results in downward pressure on home values.

The price of homes in Dublin is stabilizing while days on market drops and market activity increases.

San Ramon's housing inventory is heading down to levels not seen since February 2007 – just prior to the subprime meltdown. And look at the trajectory of pending sales in San Ramon. Activity is picking up in both zip codes of San Ramon and days on market is falling in both areas. Home values in 94583 are stable while 94582 is showing price increasing slightly.

Sales activity in Keller Williams' Danville Market Center is off the charts. It appears that the summer of 2009 could see a very active real estate market. Many buyers may be singing the blues for having delayed their home purchase too long.

Home sellers in Dublin and San Ramon that have been waiting for the market to bottom and improve should take note. This doesn't mean that we are going to see the price of homes for sale increasing dramatically, but sellers may soon be able to be more firm on pricing.

Contact Craig for more info on Dublin & San Ramon real estate markets and homes for sale – 925-984-4910

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