$6,116 Closing Credit*
$515,000
750 SqFt
2 Beds
•1 Full Bath
Susan Mullett, Listing Office: Redfin Corporation
Is Rancho Penasquitos, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Rancho Penasquitos has remained a Seller's Market.
Key Takeaway
Rancho Penasquitos is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rancho Penasquitos, CA
How much do homes in Rancho Penasquitos, CA cost?
Median Sold Price
$1,344,000
$711/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$194,500(+16.9%)
Key Takeaway
Homes in Rancho Penasquitos have sold for 16.9% more than they did a year ago.
Summary: The median home sold price in Rancho Penasquitos was $1,344,000 in October 2024, up 16.9% from last year, and the median price per square foot was $711.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $441.5K | $476K | +7.8% |
| 2 Bedrooms | $530K | $628.5K | +18.6% |
| 3 Bedrooms | $1.0M | $1.2M | +12.1% |
| 4 Bedrooms | $1.3M | $1.5M | +14.1% |
| 5+ Bedrooms | $1.6M | $1.7M | +9.8% |
Summary: Rancho Penasquitos housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.8%, 2 bedroom homes increased by 18.6%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 14.1%, and 5+ bedroom homes increased by 9.8%.
Housing Supply in Rancho Penasquitos, CA
How many homes are available in Rancho Penasquitos, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 80 | 82 | +2.5% |
Summary: The Rancho Penasquitos real estate market had 82 homes for sale in October 2024, a 2.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 17 | 14 | -17.6% |
| 3 Bedrooms | 23 | 25 | +8.7% |
| 4 Bedrooms | 32 | 33 | +3.1% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Rancho Penasquitos housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 17.6%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 23 | -20.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rancho Penasquitos, you may be able to get a good deal. 43.5% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in Rancho Penasquitos in October 2024, down by 20.7% month-over-month. Of the 23 sold homes, 43% were sold under asking, 17% were sold at asking, and 39% were sold over asking.
Days on Market for Rancho Penasquitos, CA
How long does it take to sell a home in Rancho Penasquitos, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 18 Days | -0.3% |
Summary: Homes in Rancho Penasquitos had an average of 18 days on market in Oct 2024, down by 0.3% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rancho Penasquitos are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 23 homes were sold in Rancho Penasquitos; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.