San Ramon Market Update September 2010 – Going Strong

San Ramon bucked the trend in the Tri-Valley by having an increase in pending sales and a decrease in inventory in September. Pending sales posted their third highest number for the year, behind only March and April. Single family detached homes priced under $1 million, which made up 82% of the inventory and 90% of pending sales, drove the changes.

Overall, pending sales posted strong gains, increasing from 61 at the end of August to 72 at the end of September, a 20% gain. Inventory fell by four units to 165 at the end of September. Not a large decrease but significant, given the increase in inventory in most other areas of the Tri-Valley. Inventory relative to pending sales fell to 2.3 months at the end of September from 2.8 months in August.

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

The inventory of homes price under $1 million fell from 144 at the end of August to 136 at the end of September, a 6% decline. Pending sales increased 18%, from 55 in August to 65 at the end of September. Inventory relative to pending sales fell from 2.6 months at the end of August to 2.1 months at the end of September.

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

Both inventory an pending sales increased in the market for homes priced over $1 million. Inventory increased by four to 29 at the end of September. Pending sales increased one unit to seven at the end of September. Inventory relative to pending sales was nearly unchanged at 4.1 months from 4.2 months at the end of August.

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

The real estate market in San Ramon had a strong showing in September. Pending sales remained high for the fourth consecutive month. Will San Ramon show the way for the rest of the Tri-Valley or will sales decline and inventory rise like most other communities in the area?