Danville Market Update August Numbers

For the month of August 2016 here are the home sales results:

  • 63 Homes Listed
  • 70 Homes Sold
  • $1,254,000 – Average sales price
  • $1,195,000 – Median sales price
  • $2,030,000 – Highest sales price
  • $815,000        Lowest Sales Price
  • 23 Days on market
  • Sales to List price ration – 100%

Year To Date home prices in Danville are up 4% over the same time period in 2015.

Don’t Let Your Real Estate End Up In Probate

Did you know that a even with a Will, if you don’t have your real estate in a trust, when you die your real estate will end up in probate. Regardless of who you designated to receive your house.

A recent law passed, Assembly Bill 139, makes it easy and inexpensive to ensure that the property avoids probate. Assembly Bill 139 creates the revocable transfer of death (TOD) deed which transfers to a named beneficiary real property on the death of its owner.

Probate can be expensive and a lengthy process. Many people set up trusts for all of there assets, yet this can cost a couple thousand dollars to establish. The TOD is simple and inexpensive. The document must be notarized and recorded to be effective and can be changed at any time if anything happens to your first beneficiary of choice.

Click here or more detailed information.

San Ramon Home Market Update- August 2016

For the month of August, there were 76 homes listed in San Ramon, 55 closed sales. The average sales price was $1,101,852 down 2 percent from the average price for homes sold in July. The average days on market is now at 30 and sales to list price ratio is 99%.  Here are the year to date results of average sales prices for all of San Ramon. The chart shows a down ward trend which has been expected. Markets go up and down all the time and it is due for a correction.

sr-trend-thru-aug-2016

San Ramon July Home Sales Results

For the month of here is a recap of July home sales activity:

Single Family Detached Homes

  • 94 home listed
  • 40 homes went under contract
  • 76 closed sales
  • Median sales price $1,068,000
  • Average sales price $1,130,338
  • Average Days on Market 21
  • Prices up 6% over same period 2015

Town homes Condos & Duets

  • 40 listed
  • 39 went under contract
  • 31 closed sales
  • Median sales price $600,000
  • Average sales price $619,725
  • Average Days on Market 15
  • Prices up 6% over same period 2015

Housing Prices and Elections

Both home buyers and sellers are concerned about the impact an election has on the real estate market.  In a recent study by California Association of Realtors, it was found the elections had very little impact on housing. CAR did an analysis of home sales dating back to 1990.

“CAR found that the average change in home sales during an election year does not follow a particular pattern. Notably sales growth is rarely negative during an election year, and there is no evidence of a systematic negative impact on home sales or prices stemming from election season.

In fact CAR found that growth in home sales at the end of an election year actually outperforms non-election years by 7.1 percentage points.On a monthly basis since 1990, California home sales contracted by roughly 2 percent during the last four months of the year. However, during the past five election cycles, sales in the final months of the year picked up, rising by 5.3 percent on an average compared to 1.8 percent during non election years.”

The research would indicate that not during the election year were prices effected and the rise of house prices during the end of the election year may be due to knowing what the current economy is versus the future economy?

Source: Realtor Magazine Aug. 2016 Issue

 

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