Foothill Ranch Real Estate Trends - August 2011
If you are buying a home in Foothill Ranch or contemplating the sale of your Foothill Ranch home it is vital to monitor our local real estate trends. The knowledge you gain will put you in control of your real estate transaction and optimize the results. Understanding price, inventory, and ownership trends here in our neck of the woods will enable you to make better decisions about buying or selling a home.
Understand the difference between "listing prices" (what sellers are asking for in Foothill Ranch) and "sold prices" (what buyers are willing to pay in Foothill Ranch).
By comparing these price trends, you'll have a good idea of where the market is heading. The median listing and sold property prices are calculated based on the market activity in Foothill Ranch each month and the graph above includes both detached SFRs and attached condos and townhomes.
Review the inventory and health of the market by looking at the number of sold and listed properties.
To understand if the market inventory is growing or shrinking, compare the number of sold properties to new listings. If inventory is growing, the market could be trending toward a buyer's market. If inventory is shrinking, then it could be a seller's market.
Gauge the health of the market by comparing the number of standard to distressed listings. If the number of distressed listings is greater, the market could be unhealthy and more likely a buyer's market.
This chart shows home occupancy and ownership rates within Foothill Ranch.
A high percentage of ownership can indicate an area where people like to live and stable property prices. While a high percentage of rentals could indicate an area with shifting demographics, a younger community, or possibly a downtown area.
High vacancy rates can indicate that the market is unhealthy and that it could be tough to sell a home in this area.