I pulled comps for 92 properties that have sold in San Ramon from April 1-August 5, 2007. I only pulled comps that were sold between $700,000 and $850,000. San Ramon varies widely depending on which side of I-680 the property lies.
The average list price (again, within the range of $700k and $850k) was $788,677, the average sales price was $777,549, for an average price of $11,127 BELOW list (1.41% below list). The most that a home sold ABOVE list was $36,000, and the most BELOW list of $72,500.
Here is some data for June 2007 versus June 2006 for the two San Ramon zips (data courtesy of DQNews.com):
Zip: 94582 (aka "Great" San Ramon zip)
Median Sales Price: 871,500
Change in Median Price: -1.0%
Zip: 94583 (aka "Ok" San Ramon zip)
Median Sales Price: 711,000
Change in Median Price: -11.7%
The discrepancy between the 2 zips is representative of what is happening across Contra Costa county. The higher priced areas are faring well relative to the lower priced areas. The subprime, and larger credit markets, crunch is affecting the poorer areas first but will undoubtedly take a toll on the higher priced market in the months to come. So, what does this mean for negotiating prices? If you are looking in the lower priced areas of San Ramon, now may be the time to buy - as inventory is up and the data is there to support more aggressive negotiating tactics with sellers. If you are looking at the higher priced areas, it makes sense to wait a few months for an even better buyer's market.
The zip 94582 takes in the flats of San Ramon between Alcosta and San Ramon Valley Blvd and these are the lesser expensive homes. On the upside (west) of San Ramon Valley Blvd are more expensive and the homes above Alcosta are also pricier.
Zip 94583 are the homes above Alcosta and take in all the Windermere development.
I think a better reference point would be the home that are not located in the flats. The key words in Real Estate are location, location, location.
I think you have it backwards. 94583 are the flats but also include Bollinger Hills and Norris Canyon Estates on the west side of San Ramon. Homes in those particular areas range from the $1.0mil-$2.5mil price range.
94582 typically refers to Gale Ranch and Windemere where newer houses exist. Shapell purchased and development Gale Ranch and several years later, Windemere was developed east of Gale Ranch further east on Bollinger Canyon Road.
Do not let the zip code mislead you as both have their pros and cons. If you want a more mature established neighborhood to live in with lots of trees and easy access to amenities then live in the 94583 zip. The majority of the big retailers, restaurants and movie theater is in the 94583. City Center, designed to be the next Santana Row (San Jose) is scheduled to be completed in 2010 will be in the 94583.
If you want new then buy the 94582 zip but be aware of the traffic traveling up and down Bollinger Canyon Rd. going west/east during commute hours. It will take you up to 20 minute to and from 680.
Additionally, if you decide to live in Windemere, the tax rate is 1.7% vs. 1.25% in Gale Ranch and 94583. So that $1.0mil home is going to cost you an extra $4500/year!
I agree with Cindi, bottom line is that San Ramon is a great place to live regardless of zip code.