San Ramon Real Estate Market Improving
San Ramon home prices seem to indicate that this local real estate market may be settling down.
According to the latest figures released for June, San Ramon housing prices are showing the smallest decline over any other community in Contra Costa County.
|
County/City/Area |
# Sold |
June 2008 |
June 2007 |
% Chg |
|
Contra Costa County |
1,418 |
$375,000 |
$597,000 |
-37.19% |
|
ALAMO |
12 |
$1,340,000 |
$1,480,000 |
-9.46% |
|
ANTIOCH |
217 |
$283,500 |
$447,000 |
-36.58% |
|
BRENTWOOD |
118 |
$387,000 |
$538,500 |
-28.13% |
|
CLAYTON |
24 |
$549,000 |
$657,500 |
-16.50% |
|
CONCORD |
136 |
$310,500 |
$480,000 |
-35.31% |
|
CROCKETT |
2 |
$403,500 |
$507,500 |
-20.49% |
|
DANVILLE |
64 |
$965,000 |
$1,024,500 |
-5.81% |
|
LAFAYETTE |
30 |
$923,750 |
$1,147,500 |
-19.50% |
|
MARTINEZ |
37 |
$415,000 |
$499,250 |
-16.88% |
|
ORINDA |
21 |
$1,145,000 |
$1,200,000 |
-4.58% |
|
PITTSBURG |
133 |
$269,000 |
$455,000 |
-40.88% |
|
PLEASANT HILL |
31 |
$475,000 |
$615,000 |
-22.76% |
|
SAN RAMON |
111 |
$800,000 |
$815,750 |
-1.93% |
|
WALNUT CREEK |
89 |
$580,000 |
$629,000 |
-7.79% |
Looking at the MLS Active (blue) vs. Pending (green) chart for the last year (Aug. 1, 2007 to Aug. 1, 2008), we see San Ramon market activity being less volatile than some of the surrounding communities.
San Ramon real estate is going to be affected by foreclosure activity for another 18 months. The next 8 to 10 months will have more impact on overall market pricing. The other big factor will be Windermere in the Dougherty Valley area. We could see more aggressive pricing and incentives in this area.
With interest rates climbing and expected to return to the 7% to 8% range in the next year or so, now is the time to buy. Expected decreases in home prices will not offset expected hikes in interest rate.
We continue to be very bullish on the neighborhood between Montevideo and Pine Valley. The higher conforming loan limits mean these homes can generally be financed at 1 to 1.5 points below the jumbo loan rate.
Contact Craig (925) 984-4910 for more information on San Ramon homes for sale.
