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.

San Ramon Real Estate Market Update — September 4th, 2026

The San Ramon real estate market continues to reject broad generalizations.

Inventory fell below 70 homes this week, but buyer activity slowed again—and we're continuing to see dramatically different results from one property to another.

Some homes are attracting immediate attention and competition. Others are sitting on the market without much activity.

That's why I think the best way to describe today's market is:

It isn't simply a buyer's market or a seller's market. It's a property-specific market.

Watch This Week's San Ramon Real Estate Market Update

This Week's San Ramon Real Estate Numbers

HOMES FOR SALE
This week: 69
Last week: 72

AVERAGE ASKING PRICE
This week: $1,910,000
Last week: $1,916,000

NEW PENDING SALES
This week: 5
Last week: 9

AVERAGE PENDING PRICE
This week: $1,652,000
Last week: $1,470,000

CLOSED SALES
This week: 7
Last week: 7

AVERAGE CLOSED PRICE
This week: $2,136,000
Last week: $1,842,000

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

Inventory dropped below 70 homes, which is encouraging as we move toward the fall market.

At the same time, new pending sales fell from nine last week to five this week.

That combination reinforces something we've seen throughout 2026: some indicators improve while others struggle to keep up.

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

San Ramon Housing Inventory Falls Below 70 Homes

Inventory declined by three homes this week, moving from 72 to 69 active and coming-soon homes.

Three homes isn't a dramatic change, but getting back below 70 is encouraging.

The reduction also appears to have been driven more by a lack of new listings than by an increase in homes going into contract.

Only five homes went pending this week.

As we move further into fall, I expect fewer homeowners to bring properties onto the market. If that happens, overall inventory should continue declining even if buyer activity remains relatively modest.

That could eventually create a more favorable supply-and-demand balance.

San Ramon Home Sales Remain Slower Than Normal

Despite the decline in inventory, our turnover indicator actually slipped by about one percentage point this week.

The reason is simple: we didn't have enough new pending sales.

Only five homes entered contract compared with nine last week.

However, the seasonal decline in inventory could create an opportunity for turnover to improve quickly.

If we can string together a couple of weeks with close to or above 10 new pending sales, while relatively few new homes enter the market, our turnover rate could improve significantly.

For now, though, San Ramon remains a relatively low-turnover market.

Are San Ramon Homes Selling Below Asking?

Our over/under indicator improved this week.

Last week, homes were closing an average of more than 1% below asking price, the largest gap we'd seen this year.

This week, homes are still closing below asking on average, but the difference has moved back to less than 1%.

That's encouraging.

It also keeps us in a range where I don't think either buyers or sellers have a particularly strong advantage based purely on the sale-to-list-price ratio.

The bigger story remains how much the result can vary from one property to another.

What Is Happening With San Ramon Home Prices?

One of the more encouraging parts of this week's numbers is what happened with our average sales price.

The 30-day rolling average closing price increased, while our over/under asking indicator improved at the same time.

That's somewhat unusual.

Throughout much of this year, we've often seen our sale-to-list-price numbers improve when lower-priced homes were driving the market because those properties tend to have deeper buyer pools and more competition.

This week, however, we're seeing indications of stronger activity at higher price points while sellers are also getting closer to their asking prices.

That combination is worth watching.

It's only one week, and our sample sizes remain small, but improvement in both indicators at the same time is an encouraging sign.

What Is the Stock Market Telling Us?

I continue to watch the technology-heavy QQQ ETF because the health of the technology sector can have an outsized impact on buyer confidence and purchasing power throughout San Ramon and the Tri-Valley.

QQQ remains around 16% higher for the year and improved modestly again this week.

Technology continues to be an important source of employment, income and wealth for many of the households purchasing homes in our area.

That means continued strength in the tech sector can help provide support for our local housing market, even when other economic indicators are less encouraging.

Mortgage Rates Are Moving in the Wrong Direction

Mortgage rates have unfortunately continued to creep higher.

The national average for a 30-year fixed mortgage is now around 6.7%.

For much of the year, rates have stayed in a relatively narrow range, but even modest increases matter when you're talking about San Ramon home prices.

Higher borrowing costs affect purchasing power and monthly payments, and they give buyers another reason to be selective.

Rates haven't stopped homes from selling.

But they continue to make both buying and selling a home more difficult.

That's another reason why strategy matters so much in today's market.

What Does This Mean for San Ramon Home Sellers?

For sellers, this market continues to reinforce one important lesson:

You cannot rely on the overall market to sell your home for you.

In a strong seller's market, homeowners can sometimes make mistakes with pricing or preparation and still receive significant buyer interest.

Today's market isn't nearly as forgiving.

You can have two similar homes in the same general area experience completely different outcomes.

One may receive multiple offers immediately.

Another may sit for weeks.

The difference can come down to:

• Pricing

• Condition

• Presentation

• Location

• Competition

• Marketing

• Or simply whether the property gives buyers a compelling reason to act

That's why the strategy for selling one San Ramon home may be completely different from the strategy for another.

The question isn't simply, "How is the market?"

The better question is:

"How is the market for my house?"

What Does This Mean for San Ramon Home Buyers?

Buyers need to approach the market the same way.

There are homes where you may have time to negotiate, consider your options and potentially secure favorable terms.

There are also homes where several buyers may immediately recognize the same value you do.

That's why broad statements like "it's a buyer's market" can actually be misleading.

A home that has been sitting for 40 days may offer tremendous negotiating leverage.

A beautifully prepared home in a desirable location that came onto the market yesterday may offer very little.

Your strategy needs to be based on the individual property—not a broad label for the entire San Ramon market.

That's one of the biggest advantages buyers have right now.

Most of the time, you can be more thoughtful about the decision.

But when the right property comes along, you still need to recognize when competition is likely.

This Week's San Ramon Market Takeaway

This was another fairly typical week for the 2026 San Ramon housing market.

Some indicators improved.

Others struggled.

Inventory moved in the right direction and fell back below 70 homes.

Pending sales, however, dropped again.

Our over/under asking indicator improved.

Our average closing price also improved.

Mortgage rates moved in the wrong direction.

The result is a market that continues to feel relatively flat rather than clearly moving up or down.

And a flat market leaves plenty of room for individual properties to experience completely different outcomes.

One home can stand out, attract multiple buyers and move quickly.

Another can sit and struggle to gain traction.

That's why this market rejects generalizations.

There isn't one statement about the San Ramon market that applies equally to every home.

More than almost any market we've experienced in recent years, this is a property-to-property market.

For sellers, that means understanding exactly where your home fits among the competition.

For buyers, it means understanding exactly how much competition exists for the home you're considering.

The goal isn't to determine whether the entire market is good or bad.

It's to understand the market for the specific property you're selling or buying well enough to make the best decision for you and your family.

Frequently Asked Questions About the San Ramon Housing Market

Is San Ramon currently a buyer's market or seller's market?

I don't think either label accurately describes the entire San Ramon market right now. Some homes are attracting significant competition while others are sitting. The strength of the market depends heavily on the specific property's price, condition, location and competition.

Is San Ramon housing inventory going down?

Yes. Inventory fell from 72 homes last week to 69 this week. With fewer homeowners typically listing properties during the fall, inventory could continue declining as we move toward the end of the year.

Are San Ramon homes selling below asking price?

On average, yes, but only slightly. The gap improved this week and moved back to less than 1% below asking. At that level, I don't see a significant overall advantage for either buyers or sellers.

Are higher-priced San Ramon homes starting to sell?

There are some encouraging signs. Our average closing price increased this week while the average sale-to-list-price ratio also improved. With relatively few weekly transactions, we'll need to see whether that trend continues before drawing a larger conclusion.

Why are some San Ramon homes selling quickly while others sit?

Buyers have more choices and are more selective than they were during faster markets. Pricing, preparation, condition, location and competition can create dramatically different results even for homes that appear similar on paper.

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

That depends much more on your individual property and situation than on the overall market.

Today's market can still produce excellent results for sellers, but understanding how your specific home compares with the competition is more important than ever.

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.