As a more affluent, master-planned community in the San Diego metro area, Rancho Bernardo is a popular place to which many area residents gravitate….or hope to gravitate one day. This sprawling community has everything its residents want in terms of well laid-out neighborhoods with sidewalks along the streets; close to all the necessary conveniences like shopping and work; and most of all, the feeling of safety for everyone especially children. When home buyers are ready to lay down roots in a community, they tend to look towards Rancho Bernardo.
The Market from the Seller’s Perspective
The Rancho Bernardo area is starting to see some signs of life from the seller’s perspective. It has been a long battle and, although it is far from over, the market has begun its turn. The most recent information shows that the average sale price is sitting at about $685K for single family homes which reflects solid increases over the past few months. This information also reveals that the average number of days on the market is just over 80 days which is down from about 90 days as shown in previous data. Other information shows that more people are buying now as well with the number of sales increasing by double digits each month.
As for condominium purchases, the trends are similar. The average sale price is just over $240K, again with nice upticks from previous months. Condominium and townhomes sit on the market slightly longer than single family homes, but, at just over 100 days, they sell in a fairly rapid amount of time. But, another important piece of information is that the number of sales each month shows solid bumps over previous months which says that buyers are still interested in condominiums.
Our agents are very well verse at listing, marketing and selling homes in the Rancho Bernardo area. We have years of knowledge and experience at our fingertips to help you get the most out of your most prized investment.
Buying a Home in Rancho Bernardo
The old adage, “it’s a buyer’s market” is starting to bid adios to the real estate world in Rancho Bernardo. Over the past few years, buyers were able to buy in this upscale community because the prices had dropped so much but not anymore. With the average sale price increasing over the past few months, buyers need to take heed and strike while the deals are still out there. The amount of time that homes are listed for sale is decreasing with the number of sales and pending sales increasing. This tells a buyer to buy if they find a property they really like…don’t hesitate.
As for distressed property, they are still out there. It is interesting to note that the number of foreclosures sold over the past year have decreased sharply with all property but increased over the past month or two. Much of that may be due to the influx of distressed property that was placed in a hold pattern due to the paperwork issues within the major financial corporations and banks. Still, with the number cut so drastically from last year, it seems that the pool of distressed property is draining.
No matter what type of property you have in mind in Rancho Bernardo, we can give you the information and guidance you need to make a sound offer and get the most house for your money. Give us a call and we will get started.
Interested in the Area
For those moving to the area from other parts of the metro or other part of the country, our agents know the Rancho Bernardo area and can help make your move easy and almost pain free. We can help you with schools; utilities; moving and more…not to mention finding the right home in the right neighborhood for your family.
No Matter the Plan
Whether you are interested in buying or selling in Rancho Bernardo, opportunity is knocking. This area has seen the worst and is set to make a comeback. Be part of that movement.