San Ramon Market Update September – Higher Inventory

The inventory of single family detached homes in San Ramon is at the highest level since March of 2009, lead by homes priced under $1 million.  While pending sales were down in September, they were still higher than year-ago levels, so demand remains solid.

Overall, there were 192 single family detached homes on the market in San Ramon at the end of September, up 16% (26) from 166 at the end of August.  Pending sales fell 12%, from 58 during August to 58 in September.  At the end of September, there was 3.8 months of inventory available, relative to pending sales, compared to 2.7 months at the end of August.

All San Ramon Single Family Homes
Inventory Vs Pending Sales September 2011

175 single family detached homes priced under $1 million were on the market at the end of September, down 18% (27) from 148 at the end of August.  Pending sales were off 13% in September at 47, compared to 54 in August.  There was 3.7 months of inventory relative to pending sales in this segment at the end of September, versus 2.7 months at the end of August.  Homes in this price range accounted for 92% of San Ramon’s inventory and 91% of pending sales in September.

San Ramon Single Family Homes Under $1 Million
Inventory Vs Pending Sales September 2011

The market for homes priced over $1 million has been quite volatile the past several months but seemed to stabilize a bit in September.  Inventory fell by only one unit to 17 in September and pending sales were unchanged at 4.  That is the first time since May that there weren’t wide swings in both indices.  This segment accounted for 9% of San Ramon’s inventory and 8% of its pending sales in September.

San Ramon Single Family Homes Over $1 Million
Inventory Vs Pending Sales September 2011

Inventory is at its highest level since early 2009 but not at such a high level to cause concern.  The demand is still there and the San Ramon market looks to be in good shape as the weather changes.