San Diego Real Estate Update - Rancho Bernardo West - December 2024

Pending sales in Rancho Bernardo West 92127 slump as we head into the holidays. Hang around till the end to see what's going on. Today we are bringing you a Rancho Bernardo West 92127 real estate market update. If you're new to this channel, please hit that like button and subscribe so you don't miss any of these updates. We are circling San Diego County each and every month so drop your zip code in the comments and we will get there next. Let's jump right into RB and see what's going on. Now we took a look at everything on the east side of I-15 in Rancho Bernardo recently. Let's take a look at what's going on on the west side here. 92127 is the zip code and we are looking at High Country West, Westwood, Bernardo Springs, areas like that. Newer areas like Forest Ranch and Del Sur will be handled in a separate update. Currently we are looking at 16 active listings, 5 pending listings, and 9 sold in the last 30 days. Now the fact that there were 9 sold in the last 30 days when things were really slow already and now we see only 5 pending means that things are really kind of winding down as we head toward the end of the year and more than half of these 16 sellers are left holding the bag as we head into 2025. Now let's take a look at the longer term trends and see what's going on with those numbers. So looking at the longer term trend if we go back to January of 2021, we can see that median price in RB 92127 was $873,000 for a detached home while San Diego County sat then at $741,000. The price popped up in the spring of 2022 all the way to $1.42 million and has remained under that level for the most part although popping up to $1,495 in November of 2023, a little more than a year ago, and then in the spring of 2024 we had a brief pop-up into the $1.88 million range. Must have been a big sale or a couple of sales there and currently sitting at $1.285 million for the median price of a single family detached home which is interesting considering that we were at $1.42 million all the way back in 2022. So that median price has really floated up and down over the many many months since the spring of 2022. When we look at the ratio of original list price to final closed sale price we see interesting numbers in 92127. Most zip codes that we look at look pretty much like San Diego County as a whole where everything peaks out in the spring of 2022 whereas in RB92127 there were several peaks May of 21 at 113.3 percent January of 22 at 112.6 and then again in April of 22 at 111.3 and never really returned to those levels September 23 we got to 108.3 107.5 at one point this year and it's been sort of downhill ever since then currently sitting at 97.7 percent for that original list price to final closed sale price ratio which is very similar to the whole right now looking at market times in RB92127 those are definitely up from October to November although below San Diego County currently sitting at 28 days for RB San Diego County at 36 days that average market time just keeps creeping up and up and up which is indicative of the fact that we have seen a lot more homes for sale uh as we head into the fourth quarter of this year than we've seen in the previous couple of years and that is going to lead to homes sitting on the market just a little bit longer as pending sales have remained constant or even slightly declining recently so that is what's going on right now in RB92127 if you like this content please remember to like share subscribe and comment we will be back very soon with more great real estate information for you until then have a great day