March 2017 State of Market in Ruby Hill, Pleasanton

Active – As of March 31st, 2017  there were 9 active properties ranging from $1,379,000-$3,749,000.

Pending – 5 Properties ranging from $1,379,888-$2,399,000

Total Closed in March – 5 Properties from $1,936,000-$3,150,000

Overview of Ruby Hill Real Estate

Median Listing Price $2.4 M

Price per Sq Ft $497

Median Closing Price $2.3 M

The median home value in 94566 is $1,077,400. 94566 home values have gone up 4.7% over the past year and Zillow predicts they will rise 0.5% within the next year. The median list price per square foot in 94566 is $495. The median price of homes currently listed in 94566 is $1,198,000

Ruby Hill Real Estate Market Trends Resized

Pending Home Sales Leap 5.5% in February

WASHINGTON (March 29, 2017) — Pending home sales rebounded sharply in February to their highest level in nearly a year and second-highest level in over a decade, according to the National Association of Realtors®. All major regions saw a notable hike in contract activity last month

Lawrence Yun, NAR chief economist, says February’s convincing bump in pending sales is proof that demand is rising with spring on the doorstep. “Buyers came back in force last month as a modest, seasonal uptick in listings were enough to fuel an increase in contract signings throughout the country,” he said. “The stock market’s continued rise and steady hiring in most markets is spurring significant interest in buying, as well as the expectation from some households that delaying their home search may mean paying higher interest rates later this year.”

Added Yun, “Last month being the warmest February in decades also played a role in kick-starting prospective buyers’ house hunt.”

Looking ahead to the busy spring months, Yun expects to see continued ebbs and flows in activity as new supply struggles to replace listings that are going under contract at a very quick pace. This is especially the case at the lower- and mid-market price ranges, where choices are minimal and prices are being bid higher by multiple offers.

“The homes most buyers are in the market for are unfortunately the most difficult to find and ultimately buy,” said Yun. “The country’s healthy labor market is translating to greater job security, but affordability is not improving because home prices in some areas are still outpacing incomes by three times or more because of tight supply. How much new and existing inventory there is on the market this spring will determine if sales can reach their full potential and finally start reversing the nation’s low homeownership rate.”

Existing-home sales are forecast to be around 5.57 million this year, an increase of 2.3 percent from 2016 (5.45 million). The national median existing-home price this year is expected to increase around 4 percent. In 2016, existing sales increased 3.8 percent and prices rose 5.1 percent.

The index in the West increased 3.1 percent in February to 97.5, but is still 0.2 percent higher than a year ago.

If you need to know more about Ruby Hill Real Estate, please feel free to reach out to me and I would be happy to help answer all your questions. If you are looking to sell, Meena Gujral can save you Thousands in commission.

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This information has been compiled from the CAR, NAR website, Realtor.com, Redfin, MLS Data, Zillow, Bay East Association of Realtors, Helpusellachievers.com

Meena Gujral – BRE#00950378

Ruby Hill Resident and Home Owner

925-425-9491

meenagujral@comcast.net

http://www.helpusellachievers.com

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