August 2024 Real Estate Market Report: Danville, Alamo, Walnut Creek, and San Ramon
As summer winds down, the real estate market in the Tri-Valley region has remained steady, with slight fluctuations in home prices and inventory levels across the board. Here’s a detailed look at the market trends in Danville, Alamo, Walnut Creek, and San Ramon for August 2024.
1. Danville
•Median Home Price: $2,150,000
•Average Days on Market (DOM): 29 days
•Market Trends: Danville’s real estate market saw a minor uptick in prices compared to July, reflecting a 2% increase. With desirable schools, parks, and a family-oriented community, Danville continues to attract buyers. Inventory is slightly constrained, leading to competitive offers in the mid-to-high price range.
•Buyer’s/Seller’s Market: Slight seller’s market
2. Alamo
•Median Home Price: $2,750,000
•Average Days on Market (DOM): 32 days
•Market Trends: Alamo remains one of the more exclusive markets in the region, with homes continuing to hold high value. Prices remained stable in August, with a few luxury homes skewing the median price upwards. Inventory has seen a modest increase, allowing for slightly more selection for buyers compared to earlier months.
•Buyer’s/Seller’s Market: Balanced market
3. Walnut Creek
•Median Home Price: $1,350,000
•Average Days on Market (DOM): 21 days
•Market Trends: Walnut Creek’s market has seen the most movement, with homes selling quickly due to the town’s bustling downtown and proximity to BART. The area remains a hotspot for young professionals and families alike. August saw a 3% rise in median prices, indicating continued demand. Inventory remains tight, particularly for single-family homes, driving competitive offers.
•Buyer’s/Seller’s Market: Strong seller’s market
4. San Ramon
•Median Home Price: $1,800,000
•Average Days on Market (DOM): 25 days
•Market Trends: San Ramon has seen a steady increase in home prices, with demand remaining strong due to its top-tier schools and growing corporate presence. The average DOM remains under a month, highlighting the competitiveness of the market. August saw an influx of new listings, though buyer interest remains high, keeping the market slightly tilted in favor of sellers.
•Buyer’s/Seller’s Market: Seller’s market
Key Takeaways
•Competitive Market: Across all four areas, inventory is tight, leading to a competitive environment for buyers.
•Price Stability: While some fluctuations occurred, home prices have remained relatively stable or increased marginally in August.
•Strong Demand: San Ramon and Walnut Creek, in particular, continue to see high demand, making it challenging for buyers to secure homes without aggressive offers.
If you’d like to see specific neighborhood data or trends, feel free to reach out!