Ladera Ranch Market Update
The real estate market hasn't changed much since our last update a month ago. In Ladera Ranch there are 96 homes for sale right now down from 99 homes a month ago. 68 of the homes for sale are single family residences, 21 are condominiums, and 7 are townhomes. Out of the 96 homes for sale 92 of them are standard sale or equity sales, there is 3 short sale, and 1 bank owned home. The first half of the year the home inventory was lower but now its begun to stabilize with the decreased buyer demand. Around 70% of the homes for sale in Ladera Ranch are listed for over $700,000 right now. Analysts are expecting home price to level off for the remainder of the year in southern California. Home loan rates remain relatively the same as last month with the average rate for a 30-year fixed mortgage around 4.85 - 4.95%. Most realtors and lenders are expecting the FED to raise rates 3 times throughout 2019.
The average price of a home for sale in Ladera Ranch is slightly down at $1,265,680. The average days a home is on the market in Ladera Ranch has increased from 84 days of inventory to now be 98 days. The home inventory has increased in the last month as homes are staying on the market longer as buyer demand dips during the holiday season. The inventory has increased to around 3.10 months of home supply at the current buying pace. An inventory of 3-4 months of supply is considered the average, so at 3.10 months of supply it's a healthy market and not favoring sellers or buyers. The average sold price verse the average list price remained relatively the same around 98.3%.
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.