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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=70) median (med) $1,301,000 Days on Market (DOM)=33
Sold past 7-12 months (n=108) med $1,622,500 DOM=7
This suggests a primary (yearly) change of -19.815%.
Sold past 1-3 months (n=22) med $1,310,000 DOM=47
Sold past 4-6 months (n=48) med $1,301,000 DOM=21
This suggests a secondary (quarter to quarter) change of +0.692% (stable – change of less than 2%).
There are 13 active listings ranging from $550,000 to $2,888,500 with a median DOM at 11 days. Range 1-210 days.
There are 7 pending listings (in contract) ranging from $1,198,000 to $2,152,649 with median DOM at 8 days. Range 1-62 days.
1/5 review: yearly change -19.118%; quarter-to-quarter change +2.037%. 11/02 review: yearly change -9.464%; quarter-to-quarter change -11.746%. 9/20 review: yearly change +14.695% (stable); quarter-to-quarter change -25.857%.
So, what’s going on? The yearly trend here has remained almost the same as our prior observation. It is off by less than 1% which may indicate that it is at, or near its bottom. The quarter-to-quarter trend has reversed but, by less than 2%. These are all indications of looming recovery but, we know the market can surprise us and we are still well down for the year. Nonetheless, I am still betting on improvements (subjective to the homeowner/seller) by Spring or early Summer. Stay tuned.
Have any other real estate questions? Want to know what is going on in a different market or sub-market? Just ask!
Appraiser legal stuff:
CA Office of Real Estate Appraisers License No. AR041451 – JamesForquer.com jamesforquer@comcast.net Data is from EBRDMLS and includes the City of San Ramon North of Alcosta Rd, South of Crow Canyon Rd, East of Hwy 680 and West of Alcosta Rd, all MLS residential listings, effective as of 03/01/2023
Listing/Sales services provided through Coldwell Banker – Montclair 510-339-6134 Jim Forquer – CA Department of Real Estate License No. 01205407
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