Is Rancho Santa Margarita, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Rancho Santa Margarita has remained a Seller's Market.
Housing Prices in Rancho Santa Margarita, CA
How much do homes in Rancho Santa Margarita, CA cost?
Median Sold Price
$978,333
$604/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Rancho Santa Margarita was $978,333 in April 2024, up 13.1% from last year, and the median price per square foot was $604.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $420K | $455K | +8.3% |
2 Bedrooms | $600K | $640K | +6.7% |
3 Bedrooms | $878.2K | $960K | +9.3% |
4 Bedrooms | $1.2M | $1.3M | +10.1% |
5+ Bedrooms | $1.4M | $1.6M | +10.4% |
Summary: Rancho Santa Margarita housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 10.4%.
Median Sold Price Compared To Nearby Cities
Silverado | $760K | $987.5K | +29.9% |
Rancho Santa Margarita | $865K | $978.3K | +13.1% |
Mission Viejo | $986.6K | $1.0M | +8.1% |
Housing Supply in Rancho Santa Margarita, CA
How many homes are available in Rancho Santa Margarita, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
115 | 122 | +6.1% |
Summary: The Rancho Santa Margarita real estate market had 122 homes for sale in April 2024, a 6.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 6 | +50.0% |
2 Bedrooms | 35 | 40 | +14.3% |
3 Bedrooms | 37 | 37 | 0.0% |
4 Bedrooms | 27 | 27 | 0.0% |
5+ Bedrooms | 12 | 12 | 0.0% |
Summary: The Rancho Santa Margarita housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
38 | 51 | +34.2% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
40 Homes Were Sold
Over Asking
Summary: A total of 51 homes were sold or pending in Rancho Santa Margarita in April 2024, up by 34.2% month-over-month. Of the 51 sold homes, 10% were sold under asking, 12% were sold at asking, and 78% were sold over asking.
Days on Market for Rancho Santa Margarita, CA
How long does it take to sell a home in Rancho Santa Margarita, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 9 Days | -66.6% |
Summary: Homes in Rancho Santa Margarita had an average of 9 days on market in Apr 2024, down by 66.6% compared to last year.
Breakdown of Home Sale Times
48 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 51 homes were sold in Rancho Santa Margarita; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.