San Ramon Market Update October 2010 – Steady As She Goes

The San Ramon real estate market did not have any surprises or big changes in October. Pending sales were at the low end of the range they have been in for the past five months, while inventory declined some. Home priced under $1 million continue to dominate the market, accounting for 82% of the inventory and 94% of pending sales at the end of October.

Overall, inventory fell 7% in October, from 165 single family detached homes at the end of September to 153 at month-end October. Pending sales fell by 10 to 53 at the end of October from 63 at the end of September. The decline in pending sales was greater than that for inventory, so inventory relative to pending sales increased somewhat, from 2.6 months at the end of September to 2.9 months at the end of October.

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

Not surprisingly, single family detached homes priced below $1 million showed the same trends as the overall San Ramon market. Inventory fell 7% to 126 homes at the end of October from 136 at the end of September. Pending sales fell 14%, from 58 at month-end September to 50 at month-end October. Inventory relative to pending sales increased to 2.5 months in October from 2.3 months at the end of September.

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

The picture was somewhat different in the market for homes priced over $1 million, where pending sales fell to their lowest level since December 2009, when they were zero. There were three pending sales in this segment at the end of October, down from five at the end of September. Inventory declined by two, to 27 at the end of October. There was nine months worth of inventory relative to pending sales in this price range at the end of October, compared to 5.8 months at the end of September.

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

The real estate market in San Ramon was pretty stable in October. Inventory and pending sales declined somewhat but nothing dramatic. The market for homes priced over $1 million continued to soften, a trend that started back in July.