San Ramon Market Update May 2010 – Bouncing Back

San Ramon was the exception to the rule in the Tri-Valley in June, posting a 40% increase in pending sales. That’s a nice bounce back after posting sharp declines in pending sales last month. Inventory also increased but not as sharply as pending sales.

Overall, pending sales increased from 55 at the end of May to 77 at the end of Jun e. Inventory increased 13%, from 115 single family homes at the end of May to 130 at the end of June. Inventory relative to pending sales fell to 1.7 months at the end of June, compared to 2.1 months at the end of May.

All San Ramon Single Family Homes
Inventory Vs Pending Sales June 2010

Single family homes priced under $1 million made up 87% of pending sales and 80% of inventory in San Ramon at the end of June. Pending sales in this segment were up 40% over month-end May, from 48 homes to 67 homes. Inventory increased 18%, from 88 at the end of May to 104 at the end of June. Inventory relative to pending sales then decreased somewhat, from 1.8 months at month-end May to 1.6 months at the end of June.

San Ramon Single Family Homes Under $1 Million
Inventory Vs Pending Sales June 2010

Pending sales of homes priced over $1 million increased by three, from 7 at the end of May to 10 at the end of June. Pending sales, slid one unit to 26 at month-end June. There was 2.6 months of inventory in this price range relative to pending sales at the end of June, compared to 3.9 months at the end of May. This segment accounted for 20% of San Ramon’s inventory and 13% of pending sales.

San Ramon Single Family Homes Over $1 Million
Inventory Vs Pending Sales June 2010

The San Ramon real estate market bounced back strongly in June from a weak May. It appears the end of the federal tax credit for homebuyers took a bigger chunk out of May’s activity than June. Hopefully that portends good things for the rest of the summer.