Rancho Santa Margarita Activity for May 2009
Posted by Paul Eskildsen on Monday, June 1st, 2009 at 3:10pm.RSM Real Estate Activity for May 2009
Including Dove Canyon, Rancho Cielo, Robinson Ranch, Wagon Wheel, Las Flores, and Walden
There are currently 219 homes actively listed for sale in Rancho Santa Margarita, with asking prices ranging from $110,000 for a 1-bed 1-bath 650 square foot condo to $1,349,000 for a 4,150 square foot 5-bedroom home in Dove Canyon. 108 of the homes listed are Short Sales, but only 8 are Bank Owned, meaning 53% of the homes on the market are "distressed" sales.
97 homes came on the market during the month at an average list price of $260 per square foot, and 21 of those are already in escrow or have sold.
115 homes came off the market pending sale. The average list price per square foot at the time they were "pended" was $259, a reduction from the $277 per square foot of the original listing.
74 homes were sold. The average time on the market for homes sold this month was 114 days. The average sale price per square foot for homes sold was $255, compared to the $259 per square foot list price at the time they pended, and $272 based on the original list price.
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[...]the market "distressed" sales.The two communities hardest hit by owners in distress are RSM and Ladera Ranch, with 50% or more of the homes on the market either Short Sales or Bank Owned. 406[...]
Posted on Tuesday, June 2nd, 2009 at 12:06 PM.