San Ramon Real Estate – Outlook 2015

It’s the beginning of the year, and everyone wants to know “how’s the market”? It’s an important question that both buyers and sellers will need to explore in order to make an educated decision on whether it’s a good time to buy or sell a home.

It is impossible to know exactly what the real estate market will do in the coming months. Unless of course you have a magic crystal ball, or a time machine. Last time I checked those didn’t exist, so the next best thing is to look at past and current values, and explore other economic factors that influence the market. This will help give us an idea of how prices are trending and what the market may look like in the coming months.

Looking at Values

When we look at past and current values, we look at average and median price trends. These price trends of past sales help determine if prices are increasing, leveling off, or declining. It is also important to look at average days on the market (DOM). Very short time periods (typically less than 30 days) are good indicators that it is a seller’s market and prices will trend up.  The chart below shows the average and median sales price, along with average days on the market for detached single family homes in San Ramon.

Detached Single Family Homes in San Ramon

San Ramon Market 2015 Outlook

Information gathered from Bay East Association of Realtors® or it’s (MLS) and is deemed reliable but not guaranteed.

 

 

 

 

 

 

 

 

 

As you can see from the chart there was a sharp increase in value from the end of 2012 through 2013. In 2014 prices continued to increase but there was more of a leveling off from the previous year.  As with last year, the numbers tend to drop off a little as the year comes to a close, and then begin to increase as the year continues. The slight fluctuations seen over the month of December aside, the general pattern remains similar to that seen in 2014.

The number of homes for sale will also have an effect on prices. San Ramon has been in a low inventory position since 2013. As of January 23rd, 2015 there were 42 active listings on the MLS, in San Ramon. This is less than one month’s worth of inventory. Supply continues to be low but the anticipation is that more homes will be listed in the coming months as sellers look to take advantage of increased equity.

What Does All This Mean For Homebuyers And Sellers?

Long term trends indicate that it is a good time to buy in San Ramon. Historically low rates, and a positively trending market are major contributors. This means that buyers can expect to find an increasing number of homes come onto the market, as sellers seek to take advantage of the equity created in their home. While buyers will not be getting the bargain-basement deals seen three or four years ago, they will have more options to choose from, and they will be able to reasonably depend on a rise in value in in their newly purchased home over the coming year.

For sellers, the market continues to favor those that desire to make a profitable sale. Sellers can expect to sell their homes for more now than they could at the beginning of 2013. Buyers will be eager to purchase homes that are only likely to increase in value, so many qualified prospects will be out house hunting in 2015.

Taking Advantage Of The Market

While it is easy to look over statistics from the past, accurately measuring the future of the real estate market is not so easy. It takes a significant amount of experience and familiarity with the San Ramon area, and the ongoing changes that happen day-to-day, to buy and sell effectively in this competitive real estate market. This is why the help of an experienced real estate agent can prove so beneficial when you are buying or selling a home.

If you need assistance with your real estate transaction in San Ramon, please contact Villa Properties today. Our company understands San Ramon real estate, and we are ready to put our experience to work for you. Let us help you get the most out of the market in 2015.

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