In 1996 home prices in San Ramon averaged $300,000 with interest rates at 7.81%. By the year 2000 prices jumped 60% with an average price of $501,000 and interest rates at 8.06%.

From 2004 to 2006 prices skyrocketed up to an average of $946,000, even with interest rates at 6.41%. Of course, we have to take into consideration the relaxed lending requirements during this time, which motivated buyers to get in the market.

Prices began to decline in 2007 thru 2009 dropping almost 22% and then in 2010 prices started to gradually pick up while interest rates dropped to 4.69%.

The lowest fixed rates were in 2012 at 3.66% on average. By end of 2013, rates were fluctuating on average around 4.5%, yet buyers are still eager to own a home in San Ramon.

The average sales price for the first quarter of 2014 came in at $953,150 bringing San Ramon home prices back to their 2006 levels. With interest rates still low (we know they won't stay this way for much longer)  now is  possibly the best time for both buyers and sellers to take advantage of this great market.

About Linda Urbick Linda

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