Ladera Ranch Market Update
The Summer of Covid-19 has proven to still be hot for real estate in southern California. Let's compare what the market looks like in July 2020 compared to last year, July 2019. In Ladera Ranch there are now only 63 homes for sale, down from 138 homes this time a year ago. 44 of the homes for sale are single family residences, 14 are condominiums, and 5 are townhomes. Out of the 63 homes for sale all of them are standard sale or equity sales. There are no bank owned, short sale or auction homes available. Around 71.4% of the homes for sale in Ladera Ranch are listed for over $700,000 right now. Home loan rates have remained very low (below 4%). The average rate for a 30-year fixed mortgage around 3.40%.
The average price of a home for sale in Ladera Ranch has increased from a year ago to 1,391,295. Last year the average price for July was $1,202,177. Regardless of the pandemic, prices indeed have slowly continued to rise. The average days a home is on the market in Ladera Ranch is only 56 days. This is due in large part to a super lower inventory of homes for sale. The inventory is super low with only about 2.00 months of home supply at the current buying pace. An inventory of 3-4 months of supply is considered the average, so at 2.00 months of supply is super low favoring sellers. The average sold price verse the average list price remained relatively the same around 97.92%. Covid-19 is seen as the primary reason the home inventory is super low. Owners in large part don't seem to want to sell during the pandemic.
If you want a free property valuation of what your home could sell for or interested in looking at the homes currently for sale give me a call 949-412-3515 Scott Bingham.