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What the heck is going on in the Real Estate Market?
The Appraiser’s Appraisal
San Ramon (Central)
Sold past 1-6 months (n=90) median (med) $1,435,000 Days on Market (DOM)=13
Sold past 7-12 months (n=115) med $1,585,000 DOM=6
This suggests a primary (year) change of -9.464%.
Sold past 1-3 months (n=48) med $1,390,000 DOM=18
Sold past 4-6 months (n=42) med $1,575,000 DOM=9
This suggests a secondary (quarter to quarter) change of -11.746%.
There are 23 current active listings ranging from $550,000 to $2,349,999 with median DOM at 55 days. Range 4 – 136.
There are 16 pending listings (in contract) ranging from $1,195,000 to $2,198,000 with median DOM at 37 days. Range 3 – 108 days.
So, what’s going on? The 9/20 review of the Central San Ramon area suggested a primary increase of 14.695% and a secondary decrease of 22.857%. The primary trend appears to have turned negative and the secondary decrease has moderated. We saw this moderation of the secondary trend yesterday in Southern Danville. Even though the primary trend has gone negative, this secondary moderation is intriguing. We still so not have enough examples to make any definitive judgements but, softening of the decline this early in the Fall is suggestive. Regardless, the days on market have increased by a pretty significant margin. DOM is also something to keep an eye on. We will just have to come back and look again in the next month or so.
Where should we look next?
Want to know what’s going on in a different market or sub-market? Just ask!
Appraiser legal stuff:
Data is from EBRDMLS and includes the city of San Ramon North of Alcosta Rd, South of South of Crow Canyon Rd, East of Hwy 680 and West of Alcosta Rd all MLS residential listings, effective as of 11/02/2022
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