Ladera Ranch Market Update
The southern California real estate market seems to be going into a transitional period. Buyer demand has slowed and homes are staying on the market for longer than they were a year ago. This year looks like it's going to be the year that we officially shift from a sellers market to a buyers market. In Ladera Ranch there are 88 homes for sale right now down from 96 homes a month ago. 63 of the homes for sale are single family residences, 21 are condominiums, and 4 are townhomes. Out of the 88 homes for sale 84 of them are standard sale or equity sales, there is 4 short sale, and no bank owned homes. Around 71% of the homes for sale in Ladera Ranch are listed for over $700,000 right now. Analysts are expecting home price to level off this year throughout southern California. Home loan rates remain relatively the same as the end of last year with the average rate for a 30-year fixed mortgage around 4.90 - 5.15%. The FED announced it plans to raise rates 3 times throughout 2019.
The average price of a home for sale in Ladera Ranch is slightly down at $1,378,005. The average days a home is on the market in Ladera Ranch hasn't changed much from 98 days of inventory to now be 97 days. Most realtors are expecting home inventory to increase as buyer demand slows this year. The inventory has increased to around 3.97 months of home supply at the current buying pace. An inventory of 3-4 months of supply is considered the average, so at 3.97 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 98.11%.
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.