Welcome to the My Rancho Santa Margarita Blog. As a companion to the My Rancho Santa Margarita Community site, this blog is meant to provide you information that is important to Rancho, particularly things related to the real estate market.
I thought it would be appropriate to begin with the latest in Rancho Real Estate Trends. The following charts were compiled from SoCalMLS using the following criteria:
- All listings that the MLS considers Rancho Santa Margarita which includes Dove Canyon, Robinson Ranch, Trabuco Canyon, and Wagon Wheel.
- 'Distress Sales' are all listings that are either Bank Owned, Short Pays or Short Sales, Probate, Foreclosures, or Auctions.
- Data was gathered on 5/27/08 for SoCalMLS and is deemed reliable but not guaranteed.
- Closed sales are from the last 30 days (4/27/08)
With all that being said, let's review Rancho Santa Margarita's Activity:
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It's interesting to note that the lower the price point, the higher the number of distress sales. That being said, the higher the price point, the lower the number of actual sales.
I was impressed to see the increasing number of properties going into escrow in relation to Actives and Closed Sales in the under $600,000 range. This may not indicate much a change just yet in the strength of our real estate market. Instead, it is most likely some of the traditional seasonal buying and may begin to taper off again in the fall. The good news - there are buyers out there!
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