Happy Mother's Day to all the mom's out there. The real estate market is still going strong as we enter the Spring sales market. In Ladera Ranch there are 92 homes for sale right now slightly up from 82 homes two months ago. 66 of the homes for sale are single family residences, 15 are condominiums, and 11 are townhomes. Out of the 92 homes for sale 90 of them are standard sale or equity sales, there aren't any short sales but there's 1 bank owned home. The home inventory has remained low for the last year but has opened up a little with the Spring selling season. Over 75% of the homes for sale in Ladera Ranch are listed for over $700,000 right now. Analysts are predicting home price to continue to rise throughout the year around 3-6% for Orange County. Increase in home prices are attributed to the low inventory and high buyer demand throughout southern California. Home loan rates remain relatively low with the average rate for a 30-year fixed mortgage around 4.750 - 4.80%.
The average price of a home for sale in Ladera Ranch is now $1,394,558. The average days a home is on the market in Ladera Ranch has slightly increased from 63 days of inventory to now be 67 days. The home inventory has increased as we enter the Spring selling months. The inventory has slightly increased to around 2.4 months of home supply as the current buying pace. An inventory of 3-4 months of supply is considered the average, so at only 2.4 months of supply we are in a sellers market. The average sold price verse the average list price remained relatively the same around 98.88%. If your looking to buy a home right now there isn't is a decent amount of buyer competition. Many homes in the $1M and below segment of the market are getting multiple offers in the first week or two if the property is priced correctly. I'd recommend being pre-approved for a home loan before looking at any homes in person.
If you want a free broker price opinion 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.