Here’s a quick review on our local Real Estate Market.
East bay being one of the hottest markets, let’s see how 2017 Real Estate Market looked for Dublin and San Ramon.
Here is snapshot showing the sales price for Dublin for 2017. Property prices stayed close to where it started at the beginning of the year. Condos and Townhouses for Dublin saw an increase of 8 and 10% respectively.
For San Ramon, Single Family sale prices stayed steady for most of the year. Condos and Townhouses increased by a moderate 3 & 7% respectively.
For both the cities, Single Family properties topped the preference.
Dublin: For Single Family properties, the most popular for the year was 4 bedrooms that averaged at 22 days on Market. Condos and Townhouses sold quicker compared to Single Family averaging at 16 days on Market, with 2 bedrooms as the most popular in the category.
San Ramon: Over here, it showed the same preference, making 4 bedrooms the most popular with average 23 days on Market. Condos and Townhouses sales averaged at 17 days Market. The most sold in this category were 2 bedroom properties.
Looking at the mortgage rates, 30-Year Fixed mortgage rates were the highest for the year at 4.30% in March and lowest at 3.78% in September— their lowest level of the year, according to Freddie Mac.
Market is doing very well now. For Buyers and Sellers, it would be better to act sooner rather than later. Rates are very likely to go higher throughout the year, and inventory availability is unlikely to improve. Acting earlier will be more advantageous. For Buyers waiting too long, may limit their purchasing power due to the rate hikes. For Sellers, this may affect the list prices.
Source for all the data: MLS