San Ramon CA (Eastern Section)

by James Forquer

What the heck is going on in the Real Estate Market?

The Appraiser’s Appraisal

San Ramon (East)

Sold past 1-6 months (n=149 median (med) $1,534,000 Days on Market (DOM)=18

Sold past 7-12 months (n=327) med $1,800,000 DOM=8

This suggests a primary (yearly) change of -14.778%.

Sold past 1-3 months (n=27) med $1,375,000 DOM=15

Sold past 4-6 months (n=122) med $1,545,000 DOM=18

This suggests a secondary (quarter to quarter) change of -11.003%.

There are 19 active listings ranging from $698,000 to $3,388,000 with a median DOM at 12 days. Range 1-293 days.

There are 20 pending listings (in contract) ranging from $500,000 to $3,100,000 with median DOM at 8 days. Range 1-144 days.

1/6 review: yearly change -19.105%; quarter-to-quarter change +4.884%. 11/03 review: yearly change -1.745%; quarter-to-quarter change -8.989%. 9/21 review: yearly change +10.429% (stable); quarter-to-quarter change -26.667%.

So, what’s going on? The yearly trend has moderated off of its January bottom of -19%. However, the quarter-to-quarter trend has reversed significantly. It was positive and is now quite negative. Note the volume of sales, the “n=” figure. I still believe this is not the common pattern and we do see improvement in the yearly trend. Still, I would expect the quarter-to-quarter figures to start to influence the yearly trend in about 45 days or so. Horse properties are common in this market, and it could be that they are still experiencing decreased demand due to higher interest rates. This is somewhat in contrast with the portion of San Ramon we looked at yesterday. We will come back here in a month or so and see what happens.

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 the City of Dublin, South of Crow Canyon Rd, East of Alcosta Rd/Village Pkwy and West of the city limits, all MLS residential listings, effective as of 03/02/2023

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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