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According to these experts, we are not in a housing bubble. Prices in the Bay Area are holding steady in most cities and some are still going up due to high demand. Here is what these experts say.

“With residential home prices continuing to appreciate at levels above historic norms, some are questioning if we are heading toward another housing bubble (and subsequent burst) like the one we experienced in 2006-2008.

Recently, five housing experts weighed in on the question.

Rick Sharga, Executive VP at Ten-X:

“We’re definitely not in a bubble.”

“We have a handful of markets that are frothy and probably have hit an affordability wall of sorts but…while prices nominally have surpassed the 2006 peak, we’re not talking about 2006 dollars.”

Christopher Thornberg, Partner at Beacon Economics:

“There is no direct or indirect sign of any kind of bubble.”

“Steady as she goes. Prices continue to rise. Sales roughly flat.…Overall this market is in an almost boring place.”

Bill McBride, Calculated Risk:

“I wouldn’t call house prices a bubble.”

“So prices may be a little overvalued, but there is little speculation and I don’t expect house prices to decline nationally like during the bust.”

David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices:

“Housing is not repeating the bubble period of 2000-2006.”

“…price increases vary unlike the earlier period when rising prices were almost universal; the number of homes sold annually is 20% less today than in the earlier period and the months’ supply is declining, not surging.”

Bing Bai & Edward Golding, Urban Institute:

“We are not in a bubble and nowhere near the situation preceding the 2008 housing crisis.”

“Despite recent increases, house prices remain affordable by historical standards, suggesting that home prices are tracking a broader economic expansion.”

San Ramon Home Sales 2nd Qtr 2017

San Ramon home sales for the second quarter of 2017. These numbers are for single family detached homes:

  • 261 Units Sold
  • Average Sales Price $1,169,633
  • Median Sales Price $1,120,000
  • Highest Price $2,375,000
  • Lowest Price $619,000
  • Average Days on Market 18

Average sales price is down 1% over first quarter of 2017, yet more than double the units, 261 vs 121

San Ramon Sales Activity for 2016

The final numbers are in for home sales in San Ramon.  On average home prices appreciated 4 percent. Here are the final results. The first chart shows sales for all of San Ramon. The next two charts are divided by zip code.

All San Ramon 2015 2016
# Units 754 714
Average Sales Price $1,040,344 $1,091,979
Median Sales Price $1,000,000 $1,025,000
Average Days on Market 19 22
Sales Price to List Price  1% over List .05% Over List
Zip 94582
# Units 414 413
Average Sales Price $1,111,263 $1,151,793
Median Sales Price $1,080,000 $1,138,839
Average Days on Market     18     24
Sales Price to List Price   1% over list   .05% over list
Zip 94583
# Units       339      299
Average Sales Price $950,318 $1,009,528
Median Sales Price $815,000 $905,000
Average Days on Market      18      20
Sales Price to List Price   1.5% over list   1% over list

San Ramon Home Sales Update – October 2016

San Ramon single family detached home sales activity for the month of October 2016

  • 63 units sold
  • Average Sales Price – $1,080,275
  • Median Sales Price – $1,050,000
  • Lowest Price – $597,000
  • Highest Price – $2,115,000

Breakdown of homes sold in 94582 and 94583

94582 94583
Units Sold    37        26
Average Sales Price $1,141,056 $993,780

Comparing October 2016 to 2015 San Ramon home sales are up 4%.

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.


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