Linda Urbick

License#: 01888059

San Ramon 2021 Results & 2022 Forecast

By Linda Urbick - January 26, 2022

San Ramon 2021 Market Report & 2022 Forecast

 

San Ramon home owners who sold their homes in 2021 have a lot to celebrate. Home prices were up 24 percent over 2020. 

829 sellers reaped the benefits of the over whelming buyer demand to live in San Ramon. Many buyer’s in an attempt to purchase a home made offers way over list price, some as high as 20 percent.  The average sales price to list price was 11 percent. Here is a recap of the numbers.

 

2021

2020

Change %

#Homes Sold

829

731

+12%

Median Price

1,630,000

1,250,000

+24%

Avg. Days on Mkt

7

14

-50%

Sales Price/List

11%

2%

 

 

What’s in store for 2022

There are many opinions across the board for real estate market next year. There definitely is no consensus from various sources on the appreciation rate. These forecasts are on a national basis not specific to the Bay area. Here is what the experts are saying:

  • Realtor.com       2.9% appreciation
  • CoreLogic            2.5% appreciation
  • Redfin                  3.0% appreciation
  • Freddie Mac & Fannie Mae          8% appreciation
  • Zillow                   13.6% appreciation

What will happen with interest rates?

We are currently in a high inflationary period, noted to be the highest in 40 years. One of the ways to fight inflation is to raise interest rates. The word on the street from the FED is possibly three interest rate hikes next year to cool off the market.

The increase in interest rates will have an impact on buyers. Many who have been approved with the lower rates, will now have to be reissue pre-approvals with the higher rates. As an example, the interest rate in December was 2.8%, currently right now mid January we are looking at 3.3%.  For a $1,000,000 loan the difference in the monthly payment is $195 more.  

I believe that San Ramon home sales will continue to be strong.  We may not be looking at double digit appreciation, yet with the prices at the current levels, home owners are enjoying a nice run up with tens of thousands of dollars in equity.

View on YouTube

Similar Interesting Articles



No Blogs found.

{{PublishDateString}}

{{Title}}

READ MORE
Next

Search

We use cookies to improve your user experience. By continuing to visit our site, you agree to our use of cookies. Learn More