Is Rancho Mission Viejo, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rancho Mission Viejo is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Rancho Mission Viejo has remained a Seller's Market.

Key Takeaway

Rancho Mission Viejo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Rancho Mission Viejo, CA

How much do homes in Rancho Mission Viejo, CA cost?

Median Sold Price

$1,150,000

$590/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$50,000(+4.5%)

Key Takeaway

Homes in Rancho Mission Viejo have sold for 4.5% more than they did a year ago.

Summary: The median home sold price in Rancho Mission Viejo was $1,150,000 in April 2024, up 4.5% from last year, and the median price per square foot was $590.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $525K$514.9K
-1.9%
2 $900K$825K
-8.3%
3 $1.0M$1.0M
+5.0%
4 $1.3M$1.4M
+3.1%
5+ $1.6M$2.2M
+39.1%

Summary: Rancho Mission Viejo housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.9%, 2 bedroom homes decreased by 8.3%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 39.1%.

Median Sold Price Compared To Nearby Neighborhoods

Talega
+7.9%
Coto de Caza
+7.4%
Rancho Mission Viejo
+4.5%
Ladera Ranch
+3.5%
Covenant Hills Village
-1.9%

Housing Supply in Rancho Mission Viejo, CA

How many homes are available in Rancho Mission Viejo, CA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
6973+5.8%

Summary: The Rancho Mission Viejo real estate market had 73 homes for sale in April 2024, a 5.8% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 55
0.0%
2 2632
+23.1%
3 2222
0.0%
4 1313
0.0%
5+ 31
-66.7%

Summary: The Rancho Mission Viejo housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 23.1%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 66.7%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1624+50.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rancho Mission Viejo, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in Rancho Mission Viejo in April 2024, up by 50.0% month-over-month. Of the 24 sold homes, 42% were sold under asking, 21% were sold at asking, and 38% were sold over asking.

Days on Market for Rancho Mission Viejo, CA

How long does it take to sell a home in Rancho Mission Viejo, CA?

Average Sale Time

Apr 2023Apr 2024CHANGE
36 Days30 Days-17.0%

Summary: Homes in Rancho Mission Viejo had an average of 30 days on market in Apr 2024, down by 17% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Rancho Mission Viejo are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 24 homes were sold in Rancho Mission Viejo; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 3 Days Ago

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