When I got into the fray for buying my first home in the US, San Ramon was quite expensive back in 2002- or that’s what I thought !! I started searching for a duet home in the range of $350-$375,000 and much to my dismay, I could not find a thing to buy !! So, I inched up my budget and eventually bought a duet home on the Westside of San Ramon for $425,000 !! And for that price, I got a 1281 sq ft, 3 bedroom, 2 bath duet with a 4800 sq ft lot. The neighbors house in the same area just sold recently for $605,000 !!!!
So what can you buy for a entry level single family home buyer in San Ramon in 2013? If you are in the search of a newer home and looking in Gale Ranch, Windemere or the Bridges that could mean a lot more than $700,000 !! The demand being so high in these areas, this price point can “possibly” buy from the two listings currently available for sale. Ranging from 1646 sq ft to 1731 sq ft with no listing in The Bridges available in that price range ! The “cheapest” home available in The Bridges starts at $1,159,000. The lowest price bridges home pending currently is $799,950 for a 3 bedroom/2.5 bath; 1971 sq ft home.
Here are some charts to show the price changes over the years for Detached homes:
The Condominium and Townhome market in San Ramon also buys you a lot less than it used to. Out of the 374 units sold in 2012, the cheapest price for a condo was $102,800 for a 474 sq ft unit. The most expensive condo/townhouse unit sold in 2012 was for $620,000 for 2125 sq ft.
In 2013, the lowest priced condo is for sale at $359,000 for a 914 sq ft unit. The highest priced townhouse is $749,000 for a 3 bedroom/2.5 bath, 2097 sq ft. A lot less square footage for a lot more money !! As you can see in this chart below that Condo/Duet/Townhomes have seen the biggest price increase since February 2012.
Are you in the market to buy or sell a home? This analysis and price chart helps you to determine how the market has shifted. For an up to the minute market scenario of 2013, email Rama Mehra at Rama@Ramamehra.com