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 March 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
$943,666
$598/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Rancho Santa Margarita was $943,666 in March 2024, up 9.1% from last year, and the median price per square foot was $598.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $427K | $455K | +6.6% |
2 Bedrooms | $605K | $640K | +5.8% |
3 Bedrooms | $885K | $940K | +6.2% |
4 Bedrooms | $1.2M | $1.3M | +7.1% |
5+ Bedrooms | $1.4M | $1.5M | +3.6% |
Summary: Rancho Santa Margarita housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.6%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Cities
Silverado | $760K | $1.0M | +31.6% |
Rancho Santa Margarita | $865K | $943.6K | +9.1% |
Mission Viejo | $992.2K | $1.0M | +6.2% |
Housing Supply in Rancho Santa Margarita, CA
How many homes are available in Rancho Santa Margarita, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
99 | 99 | 0.0% |
Summary: The Rancho Santa Margarita real estate market had 99 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 33 | 32 | -3.0% |
3 Bedrooms | 25 | 29 | +16.0% |
4 Bedrooms | 21 | 21 | 0.0% |
5+ Bedrooms | 16 | 13 | -18.8% |
Summary: The Rancho Santa Margarita housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 16%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 18.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
37 | 36 | -2.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in Rancho Santa Margarita in March 2024, down by 2.7% month-over-month. Of the 36 sold homes, 17% were sold under asking, 11% were sold at asking, and 72% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
32 Days | 10 Days | -67.7% |
Summary: Homes in Rancho Santa Margarita had an average of 10 days on market in Mar 2024, down by 67.7% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 36 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.