7 Day Snapshot of Real Estate in Rancho Cucamonga, California

Yes, the real estate market is slow in the United States. Obviously, the average person does not plan to purchase a home in every one of the 50 states of the USA. Therefore, how could one make a decision to buy a home based on generalized information? For the sophisticated buyer, their plan to purchase is usually more specific and likely to be in an area that they are familiar with. Instead, they ought to base their decision on information tailored and targeted to their desired location.

The focus of this article is the City of Rancho Cucamonga in California and includes statistics for the sub-cities, Alta Loma & Etiwanda, located within the umbrella of Rancho Cucamonga. The zip codes of the neighborhoods included in the 7-day analysis of Rancho Cucamonga are: 91701, 91730, 91737, and 91739.

As of September 21st, 192 condominiums, 49 town homes and more than 500 single family residences are currently on the market for sale. Out of all the current available housing inventory in the City of Rancho Cucamonga, eight (8) homes successfully closed escrow during the time frame of this analysis. This clearly is a reflection of the increased power a buyer has over the seller in today's market. The increased inventory allows a prospective Rancho Cucamonga homeowner the ability to leverage their resources, thus, to better negotiate pricing and terms of a purchase.

The minimum listing price was $324,900, the average listing price was $589,586 and the maximum listing price was $1,275,000. The listing price differs from the selling price in that the listing price is the price the SELLER hopes to receive. The selling price, on the other hand, is the actual price agreed upon both buyer and seller after negotiations. For the past 7 days, the minimum selling price equaled the minimum listing price at $324,900. The average selling price was lower by $26,362 than the listing price at $563,224 and the maximum selling pricing was also lower by $50,000 than the listing price at $1,225,000. This also shows that BUYERS are succeeding in negotiating lower prices for the average transaction in Rancho Cucamonga. The lower selling prices versus the listing price indicates the importance of SELLERS pricing their properties properly at the start. Thus, the true price of any home is determined by what the market is willing to purchase it for.

In terms of size, the average home being sold in Rancho Cucamonga has at least 3 bedrooms & 2.75 bathrooms with a living space of 2,101 square feet. The average lot size is 12,107 square feet and most of the homes that sold were built circa 1985.

Of the homes that sold this past week, the average market-time was 75 days.

What makes Rancho Cucamonga so attractive are the award winning schools, the closeness of a wide variety of shopping areas and restaurants, cultural center, as well as the convenience of the easy access of the 15, 210 and 10 freeways. There is a 'balance' of the types of housing, integration of parks and green belts as well as a balance between commercial and residential zoning that can clearly be seen. Rancho Cucamonga is a city that continues to progress in urbanization but still remains grounded by maintaining its parks and preserving its historical landmarks.

Is it your time to buy in Rancho Cucamonga?