I want to share with you a couple of the monthly reports I look at to see some detail of what is happening with the San Ramon housing market. Seeing trends in graph form really makes it clear what is going on. The first graph shows what is for sale, what has closed and what has gone pending sale:While the number of homes pending sale has gone up slightly in the last month, the inventory is still very low and stagnant. Look at the difference from last year! This is what you need to know when looking in San Ramon. Low inventory means more competition for the best homes and paying asking price or higher.
The second graph shows the average sales price per square foot. What is important about these numbers is that they have been increasing for the last six months, but only to a point more or less even with a year ago. We’ll see what happens in the coming months, but so far, in San Ramon at least, I’d have to say there hasn’t been a dramatic increase in prices.
If you’ve been out looking at homes in the past month and have anything to add, please feel free to comment. The keys to buying in this market?
- Patience, patience, patience. Don’t act too quickly without having a solid plan. The perfect house for you might not even be on the market yet.
- When it’s time to act, you need to act quickly. Don’t delay your offer – the house will be gone.
- Work with an Agent. They’ll know immediately when a home meeting your parameters comes on the market and the soonest you can see it. You can’t do that yourself relying on the internet.
- Be patient, take some deep breaths, make your house hunting adventure fun and remember I can help you!