Danville – San Ramon – Dublin CA Home Sales Trends
2008 Home Sales in Danville, San Ramon & Dublin, California
Home sales in Dublin California reflect the influence of new home builders slashing prices and adding financing and upgrade incentives. Dublin has more entry-level new home inventory than other surrounding communities. The large number of condos being sold in Dublin is helping to home sales figures climbing.
The impact of foreclosures and short sales on home prices in Windermere and Gale Ranch in San Ramon, CA is driving the number of homes sold in these communities. We expect the second half of 2008 to show a stronger sales trend than 2007 for most East Bay communities because of foreclosures.
In the older sections of San Ramon, we have a higher percentage of home owners who have been in their homes more than 10 years. These neighborhoods also have a higher percentage of baby boomers that are reaching retirement age and have the luxury of riding out the current market.
Blackhawk in Danville, California reflects the impact of problems with jumbo loans in 2007 more than any other communitiy. August of 2007 saw a near collapse of jumbo loan mortgages. 2008 sales of homes in Blackhawk should fare better in the second half of 2008 than 2007.
Danville, California is one of theEast Bay communities where home owners are gambling away more equity in their homes than other communities. Home sales in Danville will probaly trend flat through the remainder of 2008.
September 12th, 2008 at 1:43 pm
Hi,
I am a your blog regular reader. I appreciated you to share tri-vally house market statistics with your analysis and vision. I noticed that the house inventory dropped a lots recently, for instance, San Ramon from 380 to 325 and Danville from 325 to 289. Is it because more houses was pended or actually more sellers withdraw their houses from market?
Be advised. Thanks
Lianyi
September 12th, 2008 at 2:40 pm
Hi Lianyi – Towards the end of summer, fewer houses normally get listed, buyers that haven’t sold may want to wait until next Spring and existing inventory does get reduced as sales transaction are completed.
It a combination of all this and more. For example, in today’s market with all the foreclosures we expect to see inventory increase this fall and winter as more foreclosures come on the market.
Many banks are delaying the process of listing new foreclosures until they can reduce the amount of inventory on their balance sheets.