Ladera Ranch Market Update
The real estate market has remained cool for the last couple months. In Ladera Ranch there are 110 homes for sale right now up from 106 homes two months ago. 77 of the homes for sale are single family residences, 21 are condominiums, and 12 are townhomes. Out of the 110 homes for sale 107 of them are standard sale or equity sales, there is 1 short sale, 1 bank owned home, and 1 probate sale. In the first quarter of the year the home inventory was low but now its been continuing to increase for the last few months. Around 67% 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 for southern California. Home loan rates remain relatively low with the average rate for a 30-year fixed mortgage around 4.85 - 4.95%.
The average price of a home for sale in Ladera Ranch is now $1,274,341. The average days a home is on the market in Ladera Ranch has increased from 71 days of inventory to now be 77 days. The home inventory has increased as buyer demand has waned over the last few months. The inventory has increased to around 3.0 months of home supply at the current buying pace. An inventory of 3-4 months of supply is considered the average, so at only 3.0 months of supply we are seeing the beginning to a more balanced market. The average sold price verse the average list price remained relatively the same around 98.6%.
Orange County Market Update
6,893 listings, up 1,016 residences for sale in a year or 17 percent; and up 5 percent vs. 6-year average.
Supply, year-to-date: Up 3,333 listings vs. a rise of 1,643 a year earlier and average increases of 2,554 in 2013-2017.
Demand: 2,394 new escrows, down 496 sales contracts in 12 months or 17%; and down 18% vs. previous six years.
Market time: 86 days vs. 61 a year earlier and an average 72 days in 2012-2017.
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.