San Ramon Housing Market – Homes for Sale and DOM
It’s May 2017 and let’s talk about the housing numbers for the local real estate market. There have been a lot of changes compared to just a couple months ago. There have been major changes just in the last month. If we look back to February there were 75 active homes for sale and 37 pending homes for sale. But, in March there were 94 active homes for sale, which represents a 25% increase in active homes since February. But pending home sales really skyrocketed. There were 85 pending homes for sale in March, a 230% increase month over month. Pending homes mean those that have already come under contract or have an accepted offer.
The days on the market have also changed dramatically. In February, the average days on the market were just 37 but in March that number dropped to 21.
This is great news for sellers. It is a great time to sell and homes are selling faster for higher prices than they did just a couple of months ago. If you are a buyer, there’s finally more inventory on the market and rates are still going strong.