Saddleback Valley Real Estate Activity for May 2009
Posted by Paul Eskildsen on Monday, June 1st, 2009 at 7:40pm.Saddleback Valley Real Estate Activity for May 2009
Including Coto de Caza, Rancho Santa Margarita, Trabuco Canyon, Mission Viejo, Ladera Ranch, and Lake Forest
There are currently 1002 homes actively listed for sale in the Saddleback Valley, with asking prices ranging from $85,000 for a 1-bed 2-bath 985 square foot condo in Lake Forest to $22,000,000 for a custom home in Los Ranchos Estates of Coto de Caza. 404 of the homes listed are Short Sales, but only 31 are Bank Owned, for a total 43% of the homes on 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 homes came on the market during the month at an average list price of $279 per square foot, and 114 of those are already in escrow or have sold.
518 homes came off the market pending sale. The average list price per square foot at the time they were "pended" was $258, an average of 5% below the original list price of the home.
307 homes were sold. The average time on the market for homes sold this month was 76 days. The average sale price per square foot for homes sold was $242, compared to the $257 per square foot list price at the time they pended.
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