Rancho Santa Margarita Market Update
This is your Rancho Santa Margarita Market Update for May 2017 for SOLD properties.
SINGLE FAMILY HOME (not Condo/townhouse)
Minium Price $525,000
Average Price $752,175
Median Price $730,000
Maximum Price $1,380,000
Avg. Days on Market 71
CONDO / TOWN HOUSE
Minium Price $200,000
Average Price $447,177
Median Price $441,250
Maximum Price $730,000
Avg. Days on Market 61
What does this mean if you are buying a house in Rancho Santa Margarita?
Buyers need to be ready to move quickly when the right home comes onto the market. Many listings are sold within 1-3 days after they show up on the MLS. You must have your pre-qualification documentation from your lender ready to go so it can be presented to the seller with the offer. Because there will likely be multiple offers, your offer package has to stand out. Don't bother with low ball offers; you will get shuffled to the bottom of the pile!
What does this mean if you are selling a house in Rancho Santa Margarita?
Sellers should be prepared to make your home available as soon as it hits the market. Get your repairs, cleaning and de-junking done before you list your home. Begin your packing process by removing extra furniture and personal items from your home. Know what your bottom line is and be ready to accept an offer within a few days. Have a plan in place to move out in case you get a great, all-cash, close in 7 days offer!
These statistics are from the CRMLS database for the last 3 months