The Bridges San Ramon Market Update Dec 09

Activity in The Bridges picked up a lot of steam in the past six months, with 29 homes sold, 12 pending sale and four currently listed. There were only 15 homes sold in The Bridges the prior six month period. Inventory remains low (about 3 weeks worth) and for the most part, homes are selling relatively quickly.

The four currently active listings are priced at an average of $1,239,000 or $357 per square foot. They have been on the market for an average of 67 days. None were distressed (REO or short sales).

There were 12 homes pending sale, nine of which (75%) were distressed. One was an REO and eight were short sales. The pending sales were listed at an average price of $985,167, or $323 per square foot and were on the market for an average of 60 days.

Of the 29 closed sales in the past six months, only four (14%) were distressed (two REO, two short sales). The homes sold for an average price of $992,879 or $339 per square foot, which was 95% of the asking price. On average, the homes sold in 106 days, however, that number was skewed upwards by a handful of properties that were on the market for 1-2 years. Most of the homes sold within 90 days.

Here is a snapshot of the activity:

The Bridges is a master planned community built by Shapell in the Dougherty Valley area of San Ramon. Bridges offers a wide range of home sizes and styles, many with views of the dramatic Bridges Golf Course (public).