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 June 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
$997,500
$614/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Rancho Santa Margarita was $997,500 in June 2024, up 14.9% from last year, and the median price per square foot was $614.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $410K | $453K | +10.5% |
2 Bedrooms | $605K | $650K | +7.4% |
3 Bedrooms | $875K | $1.0M | +15.4% |
4 Bedrooms | $1.2M | $1.3M | +14.4% |
5+ Bedrooms | $1.5M | $1.6M | +6.9% |
Summary: Rancho Santa Margarita housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.5%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 14.4%, and 5+ bedroom homes increased by 6.9%.
Median Sold Price Compared To Nearby Cities
Silverado | $810K | $975K | +20.4% |
Rancho Santa Margarita | $868K | $997.5K | +14.9% |
Mission Viejo | $963.1K | $1.0M | +14.2% |
Housing Supply in Rancho Santa Margarita, CA
How many homes are available in Rancho Santa Margarita, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
134 | 128 | -4.5% |
Summary: The Rancho Santa Margarita real estate market had 128 homes for sale in June 2024, a 4.5% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 8 | 0.0% |
2 Bedrooms | 37 | 37 | 0.0% |
3 Bedrooms | 37 | 34 | -8.1% |
4 Bedrooms | 38 | 36 | -5.3% |
5+ Bedrooms | 14 | 13 | -7.1% |
Summary: The Rancho Santa Margarita housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 8.1%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes decreased by 7.1%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
48 | 45 | -6.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Summary: A total of 45 homes were sold or pending in Rancho Santa Margarita in June 2024, down by 6.3% month-over-month. Of the 45 sold homes, 16% were sold under asking, 16% were sold at asking, and 69% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
10 Days | 11 Days | +3.3% |
Summary: Homes in Rancho Santa Margarita had an average of 11 days on market in Jun 2024, up by 3.3% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 45 homes were sold in Rancho Santa Margarita; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.