Ladera Ranch real estate market performance
November 2010 vs. November 20095/5 Posted on December 07, 2010 by Pete Thistle.
The Ladera Ranch real estate market for the month ended November 2010 continues to show signs of stability despite the recent foreclosure freeze. Ladera Ranch homes and Ladera Ranch condos sales are up 5.1% year-to-date as there have been 450 total homes sold this year as compared to 428 last year.
There has been a sharp decline in homes under contract, 32 as compared to 53 last year, continuing to illustrate like last month that the recent foreclosure freeze has slowed the movement of distressed inventory off the market.
Average sales price year-to-date continues to remain relatively stable as it is down only 2.4% to $612,937. This figure, however, is not truely reflective as the average price per square foot for real estate sold this year in Ladera is actually slightly up.
The average days on market (DOM) for the month ended November was at 108 days as compared to 83 days last year at this time, however, much of this can be attributed to the recent foreclosure freeze. Average DOM in the 60-90 day historically has suggested a stable market, 90-120 days a slightly depreciating market, and anything less then 60 an appreciating market.
Inventory levels at the end of November based on sales year-to-date were slightly over 4 months, suggesting a stable or slightly appreciating market as inventory in the 3-4 month range historically have indicated such.
For more information, including sales in your neighborhood or your home's value in today's market, please feel free to contact us.