Is Rancho Santa Margarita, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rancho Santa Margarita is a seller's market

Buyer's
Market

Difference Since January 2023

Since last year, Rancho Santa Margarita has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Rancho Santa Margarita, CA

How much do homes in Rancho Santa Margarita, CA cost?

Median Sold Price

$914,900

$590/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$39,100(+4.5%)

Key Takeaway

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

Summary: The median home sold price in Rancho Santa Margarita was $914,900 in January 2024, up 4.5% from last year, and the median price per square foot was $590.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $422.5K$455K
+7.7%
2 $604.5K$630K
+4.2%
3 $900K$917.4K
+1.9%
4 $1.2M$1.3M
+4.7%
5+ $1.5M$1.5M
-0.1%

Summary: Rancho Santa Margarita housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 0.1%.

Median Sold Price Compared To Nearby Cities

Silverado
+22.0%
Rancho Santa Margarita
+4.5%
Mission Viejo
+3.3%

Housing Supply in Rancho Santa Margarita, CA

How many homes are available in Rancho Santa Margarita, CA?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
86860.0%

Summary: The Rancho Santa Margarita real estate market had 86 homes for sale in January 2024, the same as December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 43
-25.0%
2 3335
+6.1%
3 2217
-22.7%
4 1720
+17.6%
5+ 1011
+10.0%

Summary: The Rancho Santa Margarita housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 6.1%, 3 bedroom homes decreased by 22.7%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 10%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
2540+60.0%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rancho Santa Margarita, you may be able to get a good deal. 42.5% of homes here sold below asking price last month.

Summary: A total of 40 homes were sold or pending in Rancho Santa Margarita in January 2024, up by 60.0% month-over-month. Of the 40 sold homes, 43% were sold under asking, 18% were sold at asking, and 40% 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

Jan 2023Jan 2024CHANGE
49 Days26 Days-45.9%

Summary: Homes in Rancho Santa Margarita had an average of 26 days on market in Jan 2024, down by 45.9% compared to last year.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

9 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 Santa Margarita are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 40 homes were sold in Rancho Santa Margarita; 70% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% 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 29 Days Ago

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