Is Rancho Bernardo, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Rancho Bernardo has remained a Seller's Market.
Housing Prices in Rancho Bernardo, CA
How much do homes in Rancho Bernardo, CA cost?
Median Sold Price
$903,741
$593/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Rancho Bernardo was $903,741 in May 2024, up 12.3% from last year, and the median price per square foot was $593.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $450K | $495K | +10.0% |
2 Bedrooms | $665K | $705K | +6.0% |
3 Bedrooms | $975K | $1.0M | +11.7% |
4 Bedrooms | $1.2M | $1.3M | +13.3% |
5+ Bedrooms | $1.3M | $1.5M | +10.1% |
Summary: Rancho Bernardo housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 10.1%.
Median Sold Price Compared To Nearby Neighborhoods
Rancho Bernardo | $805K | $903.7K | +12.3% |
Lake Hodges | $1.3M | $1.5M | +7.9% |
Oaks North | $745K | $795K | +6.7% |
Housing Supply in Rancho Bernardo, CA
How many homes are available in Rancho Bernardo, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
137 | 167 | +21.9% |
Summary: The Rancho Bernardo real estate market had 167 homes for sale in May 2024, a 21.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 3 | -25.0% |
2 Bedrooms | 60 | 71 | +18.3% |
3 Bedrooms | 48 | 58 | +20.8% |
4 Bedrooms | 20 | 26 | +30.0% |
5+ Bedrooms | 5 | 9 | +80.0% |
Summary: The Rancho Bernardo housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 18.3%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 80%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
45 | 51 | +13.3% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Summary: A total of 51 homes were sold or pending in Rancho Bernardo in May 2024, up by 13.3% month-over-month. Of the 51 sold homes, 37% were sold under asking, 8% were sold at asking, and 55% were sold over asking.
Days on Market for Rancho Bernardo, CA
How long does it take to sell a home in Rancho Bernardo, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
17 Days | 15 Days | -12.7% |
Summary: Homes in Rancho Bernardo had an average of 15 days on market in May 2024, down by 12.7% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 51 homes were sold in Rancho Bernardo; 86% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.