Rancho Santa Margarita Homes for Sale - Market Update April 2010
Posted by Leslie Eskildsen on Monday, May 10th, 2010 at 7:37pm.Currently, there are three real estate markets in Rancho Santa Margarita - homes for sale under $350,000, homes priced between $350,000 and $600,000 and homes in the over $600,000 range. Take a look at the chart below and see what you think about each one of the three groups of homes.
Range | Active | In Escrow | Sold In April 2010 |
| < $350K | 62 (38 SS) | 136 (99 SS) | 43 (21 SS) |
| $350 - $600K | 66 (36 SS) | 94 (61 SS) | 23 (3 SS) |
| > $600K | 17 (3 SS) | 10 (4 SS) | 10 (5 SS) |
| Total | 145 (77 SS) | 240 (164 SS) | 76 (29) |
As you can see, the active listings are pretty evenly split between the low and middle range prices. Then the market shrinks above $600,000. Under $350,000 is certainly the fastest moving market - way more sales than the other two categories. This is mostly due to the extended tax credit that was in effect until April 30. Notably , there are fewer homes in escrow in the middle range, and only half as many sold listings than in the lower price range. On a positive note, despite the dramatically lower number of homes in Rancho Santa Margarita on the market for sale in the over $600,000 range as compated with homes in the lower and middle range, these higher priced homes are selling, albiet more slowly than the others.
The SS indicates how many of the homes in Rancho in each of the categories is a Short Sale. Short Sale are certainly a sign of the current economic times and Rancho is not immune to these types of transactions.
Give me a call if you have any questions about what's going on the Rancho Santa Margarita real estate - or if you are ready to start your search for a great home for sale in any of the great Orange County communities - like Mission Viejo, Aliso Viejo, Irvine, Ladera Ranch, Dove Canyon, Coto de Caza, and all the rest!
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