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 May 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
$1,006,250
$609/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Rancho Santa Margarita was $1,006,250 in May 2024, up 17.8% from last year, and the median price per square foot was $609.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $412.5K | $455K | +10.3% |
2 Bedrooms | $600K | $642.5K | +7.1% |
3 Bedrooms | $875K | $980K | +12.0% |
4 Bedrooms | $1.2M | $1.3M | +11.9% |
5+ Bedrooms | $1.4M | $1.6M | +9.1% |
Summary: Rancho Santa Margarita housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.3%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes increased by 9.1%.
Median Sold Price Compared To Nearby Cities
Silverado | $782.5K | $975K | +24.6% |
Rancho Santa Margarita | $854K | $1.0M | +17.8% |
Mission Viejo | $975K | $1.0M | +12.8% |
Housing Supply in Rancho Santa Margarita, CA
How many homes are available in Rancho Santa Margarita, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
132 | 129 | -2.3% |
Summary: The Rancho Santa Margarita real estate market had 129 homes for sale in May 2024, a 2.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 8 | +33.3% |
2 Bedrooms | 40 | 36 | -10.0% |
3 Bedrooms | 40 | 36 | -10.0% |
4 Bedrooms | 31 | 35 | +12.9% |
5+ Bedrooms | 15 | 14 | -6.7% |
Summary: The Rancho Santa Margarita housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 10%, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes decreased by 6.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
51 | 47 | -7.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Summary: A total of 47 homes were sold or pending in Rancho Santa Margarita in May 2024, down by 7.8% month-over-month. Of the 47 sold homes, 21% were sold under asking, 15% were sold at asking, and 64% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
15 Days | 12 Days | -20.0% |
Summary: Homes in Rancho Santa Margarita had an average of 12 days on market in May 2024, down by 20% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 47 homes were sold in Rancho Santa Margarita; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.