Rancho Santa Margarita Homes & Lifestyles

To give you an idea of where the housing market stands in Robinson Ranch, there were nine new listings for the month of May. In the same month last year there were six. This month’s only sale was a short sale and it was on the market for 249 days. Let me repeat that…249 days! In all fairness it did fall out of escrow once, but 249 days? If the Seller didn’t have gray hair before listing the property he most likely does now.

I’m often asked if the market is as bad as some of the media have made it out to be. Here are the numbers for Robinson Ranch. You be the judge. Let’s take a look at where Robinson Ranch is today and where is was one year ago.

Recap of Closings Per Month in 2007 (22 sales):

• May - 1
• April - 4
• March - 10
• February - 5
• January - 2

Recap of Closings for 2006: (13 Sales):

• May - 1
• April - 3
• March - 4
• February - 1
• January - 4

2006 Average ( SalePrice / SqFt ) : ( 819092 / 2131 ) = $ 384.37

2007 Average ( SalePrice / SqFt ) : ( 813813 / 2255 ) = $ 360.89

It works out that this year’s average sold price is approximately $24.00 per square foot less than last year’s. Looking at it another way it’s approximately a 6.1% decrease. Not too big of a dip unless you’ve got 100% financing and that’s a whole other story.

News of a slight decline in value shouldn’t be too much of a surprise to most Robinson Ranch homeowners. Odds are if you’ve been tracking the housing market via the news or if you’ve been reading Jon Lansner at the Orange County Register then you were probably expecting a lot worse.

I’m not going to get into a dispute over statistics because the raw numbers tracked by the top research companies all seem to be different. I base my written market reports on information obtained through SoCal MLS. By doing it this way I can get a more accurate snapshot of an individual neighborhood. That’s what my clients want - apples to apples. I use a variety of other research data as well, but only to assist me in presenting the broader picture.

What I find interesting about Robinson Ranch is that it has taken a smaller value hit than many communities in Orange County, San Diego, Los Angeles or even within the Rancho Santa Margarita / Trabuco Canyon Area. This may be purely situational but I will be keeping a close eye on it over the next few months.

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Related Posts

• Rancho Santa Margarita Housing Market Report - April 2007
• Median Home Prices - What the Numbers Really Mean
• Robinson Ranch Housing Market Report