I can't believe this hasn't hit main stream news but I came across an interesting statistic that illustrates what I and other real estate agents have been seeing for the last two months. At this same time last year there were approximately 435 single family homes listed for sale in the city of San Ramon. Today there are approximately 125. What does this mean? The market for single family homes in San Ramon is hot!
Affordable home prices, attractive interest rates and government incentives have brought the borrowers out. While we aren't seeing the rampant home price appreciation we experienced several years ago, we have seen significant stabilizing of home values for single family homes along the 680 corridor. San Ramon is definitely not alone. Danville, Alamo, Walnut Creek and Pleasanton all have similar trends towards a decrease in the number of homes for sale on the market compared with last year.
What does this mean for people thinking of buying a home? Well it means it's a great time to get out there and make an offer on a home. Home inventory typically drops as we move into the Fall and Winter months, and inflationary pressures do exist which may at some point drive mortgage interest rates higher than the historical lows we enjoy today. The government subsidy programs also are set to expire. If you or someone you know are interested in potentially taking advantage of this great time to buy a home, give me a call. If you'd like to do a little anonymous searching to see what's out there in this Real Estate market, try visiting my website.
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