San Ramon Market Update July 2010 – Still Strong

Demand remained strong in San Ramon during July but inventory increases outpaced sales gains. While we don’t have the sales levels we saw in March and April of this year, the sales numbers in June and July are still healthy. The gains in both inventory and pending sales occurred in the market for homes priced under $1 million.

Overall, inventory rose from 130 homes at the end of June to 152 at the end of July, a 17% increase. Pending sales increased only 3% in July to 72, from 70 at the end of June. Inventory relative to pending sales increased slightly to 2.1 months at the end of July, from 1.9 months at the end of June.

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

Single family homes priced under $1 million made up 90% of pending sales and 82% of inventory in San Ramon at the end of July. Inventory increased 20% in July, to 125 homes at month end, compared to 104 at the end of June. Pending sales in this segment were up 6% over month-end June, from 61 homes to 65 homes. Inventory relative to pending sales increased a little from 1.7 months at the end of June to 1.9 months at the end of July.

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

The inventory of homes priced over $1 million increased by only one unit in July to 27. Pending sales decreased two to seven at the end of July. Inventory relative to pending sales in this segment increased to 3.9 months at the end of July, from 2.9 months at the end of June. This segment accounted for
8% of San Ramon’s inventory at the end of July and 10% of pending sales.

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

The San Ramon real estate market showed continued strength in July, with demand remaining healthy. Inventory did increase somewhat but the market appears to be strong enough to handle the current inventory level.