San Ramon Valley Real Estate Market Update – Quarter 1 2015
April is generally the busiest time of year for San Ramon Valley real estate sales and a look at the first quarter’s sales compared to the same period last year should tell both buyers and sellers of homes what to expect in the coming months.
A glance at the chart below shows that home prices have increased up to 10% across the board, and while there is some fluctuation depending on type and size of home, there are few surprises. The same hold true for different cities. Danville and San Ramon home prices, for example, have risen more than those in Concord and Martinez.
Supply and demand have a lot to do with all of this. As we get into prime home selling season, many areas have less than one month’s supply of homes for sale based on the numbers of recent sales agreed and this is likely to become an even tighter market unless we see a lot more homes being listed for sale in the next month or so.
All of this is a great opportunity for home sellers, of course. If you fit into this category, provided your home is marketed as it should be and priced appropriately (or even aggressively), you can anticipate a quick sale at a price that could be higher than you anticipated.
If you are a buyer, then you may face some challenges. The key to success here is to be working in partnership with a local Realtor who can advise you on how to structure an offer on the home you want that will give you the best chance of acceptance. While it is true that many homes are getting multiple offers, some agents are achieving much greater success with their offers than others. And it is rarely just the price that makes the difference. A well qualified buyer that is represented by a local agent with a good reputation has a very strong advantage in today’s market.