San Ramon Real Estate Market Update — September 11th, 2026

The San Ramon real estate market is picking up the pace a little as we head into what is usually the slower part of the year.

Inventory fell from 69 homes to 63 this week, while new pending sales increased from five to seven.

Those aren't dramatic numbers by themselves, but after a relatively soft year, the combination of falling inventory and slightly improving buyer activity is encouraging.

And with fewer homeowners typically choosing to list during the fall, we could see the supply-and-demand balance continue to improve.

Watch This Week's San Ramon Real Estate Market Update

This Week's San Ramon Real Estate Numbers

HOMES FOR SALE
This week: 63
Last week: 69

AVERAGE ASKING PRICE
This week: $1,888,500
Last week: $1,910,700

NEW PENDING SALES
This week: 7
Last week: 5

AVERAGE PENDING PRICE
This week: $2,031,000
Last week: $1,652,000

CLOSED SALES
This week: 4
Last week: 7

AVERAGE CLOSED PRICE
This week: $1,660,000
Last week: $2,136,000

The headline this week is falling inventory combined with slightly improving buyer activity.

We're still not seeing a high volume of homes entering contract each week, but the overall balance is moving in a healthier direction.

Let's take a closer look at what the broader market indicators are telling us.

San Ramon Housing Inventory Falls to 63 Homes

Inventory declined again this week, dropping from 69 homes to 63.

That continues a trend we've now been watching for roughly a month.

Inventory is still on the higher side compared with what we would consider normal, but it's moving consistently in the right direction.

And as we move deeper into fall, I expect fewer homeowners to bring their homes onto the market.

If that happens, inventory should continue to gradually decline.

For sellers, that's encouraging because fewer available homes means less competition.

For buyers, it could mean the amount of choice we've enjoyed throughout much of this year begins to shrink.

San Ramon Turnover Is Starting to Improve

Lower inventory is also beginning to help our turnover indicator.

We're still below 50% of what I consider a normal turnover rate, so I wouldn't describe San Ramon as a fast-moving market.

But the trend is improving.

We had seven new pending sales this week compared with five the week before.

Seven isn't a huge number, but when inventory is simultaneously falling, even modest improvements in buyer activity can make a meaningful difference.

If inventory continues declining while pending sales remain steady—or preferably increase—we could see turnover move into a healthier range as we head toward the final quarter of the year.

Are San Ramon Homes Selling Below Asking?

The average home continues to close approximately 1% below its asking price.

So there wasn't much movement in our over/under indicator this week.

But I actually think the stability is important.

Some San Ramon homes are still selling above asking.

Others sit on the market, negotiate price reductions and eventually close below asking.

When you combine all of those sales, the average is still landing very close to the original asking price.

That tells us buyer and seller expectations are aligned well enough to keep the market moving.

This isn't a market where sellers are having to dramatically discount their homes across the board.

At the same time, buyers aren't routinely feeling pressure to pay significantly over asking either.

We're still in a relatively balanced range.

What Is Happening With San Ramon Home Prices?

Our 30-day rolling average sales price climbed above $1.9 million this week for the first time since June.

That's an encouraging move.

It suggests we've recently seen more activity from the higher end of the San Ramon market.

However, it's important to remember that our transaction volume remains relatively small.

Looking at the price points of homes currently pending, I wouldn't be surprised to see that rolling average come back down somewhat over the next few weeks.

But I also think there's a reasonable chance it returns to the $1.9 million range shortly afterward.

The bigger takeaway isn't the exact weekly number.

It's that we're continuing to see enough activity at higher price points to keep overall values relatively stable.

What Is the Stock Market Telling Us?

I continue to watch the technology-heavy QQQ ETF because technology employment, stock compensation and investment performance can have an outsized impact on buyers here in San Ramon and throughout the Tri-Valley.

QQQ finished this week roughly half a percent above last week's close.

There was some volatility during the week, including a decline of roughly 1.5%, but the fund recovered much of that movement before the week ended.

QQQ continues to sit around 16% higher for the year.

That continued strength is important locally because stock portfolios and equity compensation can provide a significant portion of the funds buyers use toward down payments.

A healthy technology sector doesn't guarantee a strong housing market.

But it certainly helps support purchasing power for an important portion of our buyer pool.

Mortgage Rates Continue to Climb

Mortgage rates moved higher again this week.

The average 30-year fixed rate is now approximately 6.76%, an increase of about five basis points from the previous week.

That's important because at San Ramon price points, even relatively small changes in interest rates can have a noticeable impact on monthly payments.

It also makes the size of a buyer's down payment increasingly important.

Every additional dollar a buyer can put toward the purchase price instead of financing can reduce the impact of today's higher borrowing costs.

Rates remain one of the biggest obstacles preventing the market from gaining significantly more momentum.

But buyers continue to purchase homes despite those rates—which is another reason the current market feels more slow and selective than truly distressed.

What Does This Mean for San Ramon Home Sellers?

For sellers, declining inventory is good news.

There are fewer homes competing for buyers' attention than there were several weeks ago.

But that doesn't mean sellers can become complacent.

Buyers are still selective.

They're comparing price, condition, location and overall value.

And because most buyers don't feel the same urgency they experienced in faster markets, sellers still need to give them a compelling reason to act.

That means thoughtful preparation remains critical.

Your pricing needs to make sense.

Your home needs to present well.

And your marketing needs to make the property stand out from the alternatives.

If inventory continues falling through the fall, sellers who execute those things well could find themselves in a better competitive position.

What Does This Mean for San Ramon Home Buyers?

Buyers still have more time and negotiating leverage than they did during the fastest San Ramon markets.

But falling inventory is something to watch.

As the number of available homes decreases, buyers may find that they have fewer attractive choices.

And when a particularly desirable property does hit the market, multiple buyers can still recognize that opportunity at the same time.

That means buyers shouldn't confuse a slower overall market with an absence of competition.

You may have room to negotiate on one house.

The next house could receive several offers.

Your strategy should continue to depend on the specific property.

This Week's San Ramon Market Takeaway

The beginning of September is typically when we start to see the San Ramon market soften.

School is underway.

Families settle into their fall routines.

And before long, we're heading toward the holidays.

Normally, that means less activity.

But the 2026 market hasn't exactly left itself much room to slow down—it has been relatively soft throughout most of the year.

Interestingly, we're actually seeing the market pick up the pace a little over the past few weeks.

Inventory has been steadily declining.

Turnover is beginning to improve.

Buyer and seller expectations remain relatively close.

And our rolling average sales price has moved back above $1.9 million.

After the market we've experienced this year, that's a breath of fresh, pumpkin-spiced air.

I also don't expect a large wave of new listings during the fall.

If homeowners continue to hold off on selling, declining inventory could gradually improve our turnover numbers and help create a healthier balance heading toward the end of the year.

That doesn't mean we're suddenly entering a hot market.

But it does mean the market may be quietly positioning itself for a cleaner slate heading into spring.

Frequently Asked Questions About the San Ramon Housing Market

Is San Ramon housing inventory going down?

Yes. Inventory fell from 69 homes last week to 63 this week, continuing a decline we've been seeing for roughly the past month. With fewer homeowners typically listing during the fall, inventory could continue dropping.

Is the San Ramon real estate market getting busier?

Slightly. New pending sales increased from five last week to seven this week, and declining inventory is helping our turnover indicator improve. However, overall activity remains well below what I would consider a normal or fast San Ramon market.

Are San Ramon homes selling below asking price?

On average, homes are currently closing around 1% below asking price. Some properties are still selling above asking while others require reductions or negotiation. Overall, the relatively small gap suggests buyer and seller expectations remain fairly well aligned.

Are San Ramon home prices increasing?

Our 30-day rolling average sales price moved above $1.9 million for the first time since June. Because transaction volume is relatively small, that number can move around from week to week, so it's more useful as part of a broader trend than as a standalone measure of home values.

Are mortgage rates hurting the San Ramon housing market?

Higher rates continue to make affordability more difficult and reduce purchasing power. However, homes are still selling, and the market has continued functioning even with mortgage rates in the upper-6% range.

Is fall a good time to sell a home in San Ramon?

It can be.

Fall typically brings fewer new listings, which means sellers may face less competition. However, buyers also tend to be more selective, so pricing, preparation and presentation remain extremely important.

Wondering What This Market Means for Your Home?

Market statistics tell us what's happening across San Ramon, but they can't tell you exactly what your home is worth or what strategy makes the most sense for your family.

If you're thinking about selling—or simply want to understand your options—we're happy to sit down with you, look at your home and the current market, and help you create a plan.

Selling or buying a home can be stressful and confusing, but it doesn't have to be.