Ladera Ranch Market Update
In the last month it seems we've seen another shift in the Ladera Ranch real estate market. Buyer demand has actually reversed and buyer demand has increased. As a result the number of homes on the market hasn't increased as expected. In Ladera Ranch there are 83 homes for sale right now down from 88 homes a month ago. 53 of the homes for sale are single family residences, 24 are condominiums, and 6 are townhomes. Out of the 83 homes for sale 81 of them are standard sale or equity sales, 2 are short sales, and no bank owned homes. Around 66% 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 $1,326,221. The average days a home is on the market in Ladera Ranch hasn't changed much from 97 days of inventory to now be 99 days. Most realtors are expecting home inventory to increase as buyer demand slows this year. But a recent shift has muted that market indicator. The inventory has decreased to around 3.07 months of home supply at the current buying pace. An inventory of 3-4 months of supply is considered the average, so at 3.07 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 97.71%.
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.