Gale Ranch & Alta Mira San Ramon Market Update August 2011

The Gale Ranch/Alta Mira neighborhood of San Ramon remained active over the past six months with 48 closed sales, about the same number as closed during the prior six month period (44). An additional 17 sales are pending and there are 11 active listings. This neighborhood continues to struggle with the slumping economy, as about 35% of all sales during the past six months, active listings and pending sales were/are distressed (short sale or REO).

The 11 active listings have an average asking price of $838,579 or $286 per square foot. These homes have been on the market for an average of 46 days. Three of the 11 (27%) are short sales (two on Briar Oaks Drive and one on Nicholas Court).

The average list price of the 17 pending sales is $764,194 or $312 per square foot. They have been listed for 39 days, on average. Seven of the properties (41%) are distressed. Below is a table showing all actively listed homes and pending sales.

48 sales closed in the past six months, at an average sales price of $717,876 or $310 per square foot. The sales were spread over the six months fairly evenly. The homes were on the market for an average of 42 days and sold for about 99% of their asking price. 17 of the homes (35%) were distressed. The following two tables list all closed sales in the past six months.

Gale Ranch is a large planned community in Dougherty Valley. It offers a variety of homes, from 1500 feet to 4500 feet, some built in the early 90’s and a new phase begun in 2003. The development contains a pool.