Active – As of March 1, 2016 there were 11 active properties ranging from $2,149,000 – $4,499,000.
Pending – 7 Properties ranging from $1,469,950 – $3,199,000
Sold/Closed February, 2016 – 1 Property $2,210,000.
94566 Zip Code Overview
The Median Listing Price in Ruby Hill is $2.6 M. Price per Square Foot is $454 and the Median Closing Price is $2.1M.
The median home value in 94566 is $1,044,200. 94566 home values have gone up 11.4% over the past year and Zillow predicts they will rise 2.1% within the next year.
U.S. housing prices are likely to rise 5 percent in 2016: Poll
Despite expectations of Federal Reserve interest rate hikes, U.S. home prices are likely to rise 5 percent this year, followed by nearly as solid gains in 2017, a Reuters poll found.
The Fed hiked interest rates for the first time in a decade in December but the housing market remained robust, with home resales reaching a six-month high in January.
In 2015, home prices also gained 5 percent, despite widespread expectations of a Fed interest rate rise, according to the S&P/Case Shiller composite index of prices in 20 metropolitan areas.
For 2016, the S&P/Case Shiller index was seen rising 5.0 percent, according to the median expectation in a poll of 24 analysts. That compared with the 4.0 percent forecast in December’s poll.
Nine of the 14 common contributors between the two polls upgraded their forecasts, two left them unchanged while the rest downgraded.
In 2017, home prices will rise 4.0 percent, followed by 3.5 percent in 2018, the poll suggested.
“The housing recovery is quite sustainable in the U.S. and should continue at a moderate rate through this year and next,” said Sal Guatieri, a senior economist at BMO Capital Markets.
“We just don’t see interest rates rising meaningfully to slow the markets that much. Mortgage rates are likely to remain low in even if the Fed raises interest rates slowly,” he added.
Sales of Existing U.S. Homes Rise to Second-Highest Since 2007
Sales of previously owned U.S. homes unexpectedly rose in January to the second-highest pace since early 2007, indicating the industry will keep prospering.
Closings, which usually take place a month or two after a contract is signed, advanced 0.4 percent to a 5.47 million annual rate, the National Association of Realtors reported Tuesday in Washington. Prices climbed from January 2015 as the number of dwellings on the market fell.
Near record-low mortgage rates, steady job gains and better wage growth are helping encourage prospective buyers, including first-time purchasers. Further strengthening in residential real estate will support the economy and make up for weakness in manufacturing tied to weaker global growth.
The January sales pace was the second-strongest since February 2007. The median forecast of economists surveyed by Bloomberg called for a 5.33 million annualized rate, with estimates ranging from 5.08 million to 5.55 million. December’s pace was revised to 5.45 million from an originally reported 5.46 million.
Compared with a year earlier, purchases increased 7.5 percent in January before adjusting for seasonal variations.
If you need to know more about Ruby Hill Real Estate or Homes for sale in Ruby Hill Pleasanton, please feel free to reach out to me and I would be happy to help answer all your questions.
This information has been compiled from the CAR, NAR website,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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