The 92129 zip code is located in the Northwest metro area of San Diego, California and until the early 2000's, it was considered to be Rancho Penasquitos, but has since added many newer neighborhoods in the Torrey Highlands area. The community is also home to 2 high schools within the award winning Poway school district and those are the well-established Mount Carmel High School as well as, the newer Westview High school.

There are currently 69 active listings in the 92129 zip code area, and it can no longer be referred to as just the Rancho Penasquitos area, as a portion of the larger detached market is located in the Torrey Highlands area. Of those 69 active listings, 12 of these homes feature swimming pools, 16 are single-level homes, and 12 of those actives are short sales. So, in raw numbers, that means 17% of this market are short sales at this time. That may sound like a large number, but compared to last year, it's quite a drop in the distressed category, considering there are 57 homes that are not waiting for the seller's lender's approval and will most likely close faster once they get under contract.

On another note, 42 homes are in pending status and they range from $400,000 up to $892,300. Pending homes are a good indicator of movement in the market and what is actually "selling" since they are all in escrow getting processed. There are 27 properties in contingent status, ranging from $410,000 up to $999,000 (which is a good sign that the contingent number of the market is now lower than the pending number of homes, since last year it was the other way around). Of the 69 active listings 41 of those homes are over 2000 square feet, and most likely above the median average of the rest of San Diego.

Still, in the last 30 days, only one home was in "sold" status, so the processing of sales are still very slow. Look for it to pick up as the weather warms and the height of the moving season peaks. The 92129 market in January had about a 5 month supply of inventory which actually hit a 12 month low.

Since the Rancho Penasquitos and Torrey Highlands area hosts secondary schools with high ratings, it has always been in high demand for many families. It’s still a very desirable area for many because it tends to have the ocean breeze, but also gets a fair amount of sunny weather. Many residents have lived here a lifetime and love to call it "home".

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92129 Detached Market Update 2012, San Diego, California

Rancho Penasquitos is located in the North inland area of San Diego, California. The 92129 zip code area is home to the Los Penasquitos Canyon Preserve which has many walking trails that cover 4,000 acres, an area that also includes Lopez Canyon. It is called home for roughly 52,000 residents and is conveniently located right next to Ted Williams Parkway (hwy 56), which can take most I-15 commuters right over to the coast and the Del Mar beach area, as well as the Del Mar Fairgrounds.

More Overview for the Rancho Penasquitos Community

There are currently 18 active attached listings in the Rancho Penasquitos community. The listing with the highest days on the market belongs to an attached home with 210 days on the market boasting 840 square feet, and going for $149,000. Attached homes in this neighborhood are currently listed at an average price per square foot of $222. According to their sold prices, the average price is at $203,991, with properties spending an average of 129 days on the market when combining distressed and traditional home sales.

On the bright side, 20 homes are in pending status. There are 24 properties in contingent status, (which means the short sale inventory waiting for approval, in this area is still relatively high). Still, this market is in relatively strong demand, because many homebuyers love the location in relation to the short drive over to the coast and some people prefer the cooler breezes than the warmth found on the East side of the I-15 in Poway. Rancho Penasquitos is still considered part of the award-winning Poway School district, too. Since the Rancho Penasquitos area is also home to Westview High School, one of the newer schools in the PUSD, it’s still going to be in high demand for families with high school students wanting a progressive curriculum.

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Rancho Penasquitos Attached Market Report 2012 San Diego, California

Rancho Penasquitos Real Estate Total Number of Homes Sold in 2011 Report (January-2012)

The total number of single family resale homes in Rancho Penasquitos for the year of 2011 was 303 and the number of condos and townhouses was 182. The following statistics will provide some insight into the Rancho Penasquitos single family and condo/townhome market:

Rancho Penasquitos Single Family Homes

• January, 2012: Rancho Penasquitos Homes for Sale: 137 (Active, contingent, and pending)
• January, 2012: Rancho Penasquitos Months of Inventory: 5.4
• December, 2011: Rancho Penasquitos Median Home Price $510,000; 7% lower than December, 2010
• December, 2011: Rancho Penasquitos Homes Sold: 29; 9% lower than December, 2010

Rancho Penasquitos Condos and Townhomes

• January, 2012: Rancho Penasquitos Condos for Sale: 60 (Active, contingent, and pending)
• January, 2012: Rancho Penasquitos Months of Inventory (Condos): 4.1
• December, 2011: Rancho Penasquitos Median Condo Price $198 10% lower than December, 2010
• December, 2011: Rancho Penasquitos Condos Sold: 13; 8% higher than December, 2010

This snapshot is a quick summary from The North county Real Estate Report, a free 23 page real estate market report covering all cities in the North County of San Diego. Feel free to browse the current issue and subscribe to The North County Real Estate Report any time.

Thank you for your patronage!

Stephen MacLeod
Broker/Owner
Highland Realty
Rancho Penasquitos Realtor

Rancho Penasquitos Real Estate

Rancho Penasquitos homes for sale offer homebuyers the chance to live in a well-established and safe area of San Diego, California.

Home to the acclaimed Poway Unified School District, parents can send their children to a school that offers students the best of California’s educational system. The development features substantial room reserved exclusively for parks and open spaces so there is no chance of residents seeing their beloved open spaces dug up for commercialization.

Black Mountain Regional Park, a long-time landmark in the San Diego area, hosts miles of the best hiking and cycling with astounding views of California’s unique canyons and ridges. At the 1,554 foot summit, hikers are greeted with breathtaking coastal and mountain views.

People moving to the area can enjoy the lifestyle of a major city with the comforts of the great outdoors in their backyard. The San Diego metropolitan area, mere miles from Rancho Penasquitos doorsteps, boasts a diverse culture, offering residents the opportunity for a variety of jobs, as well as unique history, dining, and entertainment.

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