Gale Ranch is an established master planned community that has a variety of neighborhood parks with baseball, soccer, basketball, playgrounds, and picnic areas. Hiking, biking and walking trails wind through the beautiful hillside dedicated open space. Award-winning San Ramon Valley Unified School district has neighborhood schools throughout Gale Ranch. There is also a shopping plaza that has gas, groceries, restaurants, banks and more. Gale Ranch was originally built by Shapell Homes and started building in the mid-1990’s. Shapell Homes was purchased by Toll Brothers in 2014. Toll Brothers continues to build according to the established master plan and currently has Avanti, Fiorella and Iriana new home communities being developed. In the fall of 2014 Toll Brothers will open their newest community called Avanti Heights.
From January 1 to July 31, 2014 – Single Family Home in Gale Ranch have continued to rise in value! The Average Sales price in 2013 from January 1st to July 31st was $846,734 for a Single Family Home. However, in 2014 the Average Sales price for the same time period is a whopping $933,701. More high-end homes have been sold in 2014 than in 2013 which accounts for the dramatic 11.027% increase in value.
In the same time period there were 45 homes sold in 2013 and 51 homes sold in 2014. That’s a 13.3% increase in the number of homes sold this year vs. last year.
The average days on the market have been all over the place in 2014. We have had a few months where the average listing was taking only 9 days to receive an offer and then we had a few months where the average was 29 days and 44 days. The number of days on the market for a home to receive and offer in July of 2014 was 15.8 days.
Condominium and Townhomes sales have also continued to increase in value from January 1to July 31, 2014. The average sales price so far in 2014 is $687,483 and was $653,899 for the same time period in 2013. That’s an increase of 5.133% in value for Condo’s & Townhomes in Gale Ranch. Interestingly, the number of homes sold in the same time period for 2013 was 14 and for 2014 is 15 which is an increase of only 1 home.
The average days on the market is 18 days for 2014 so far and was 14.7 for the same time period last year. That means it is taking longer to get an offer on a Condo or Townhome in Gale Ranch this year vs. last year. I have noticed this trend among the Condo/Townhome market. Buyers are taking their time and not snatching up homes as quickly as they did in the past.
What do these numbers mean for you? Well, if you are looking to sell a Condo or Townhome, it will take a bit longer to get a Buyer to write an offer. Your sales price will still be higher than last year but you will probably not get multiple offers right now. If you are wanting to sell and move into a bigger home, then this would be the time to sell for you because your move-up home will cost less than it would come January and there would not be as much competition from other Buyer’s on the home you want to purchase. If you are thinking of selling – please call me at (925) 415-0835 to discuss the current market. Moving into a bigger home this fall might be a fantastic decision!