In the Lehigh Valley, PA I've found that a common buyer of a ranch is a home buyer who is getting older and tired of dealing with steps. They might like a home with a basement but really only want to use it for storage. They don't want it to be a major part of their lives (i.e. washer and dryer in the basement, finished rec room). If the home has a finished basement (something they don't want or care about) then they might not want to pay a higher price for the home because of this amenity.
A raised ranch usually has a finished basement or has a layout conducive to finishing. By default, they are usually on a lot where entry to the house has steps and the walk-out basement is common. Some buyers are looking for in-law quarters. A raised ranch might be the solution.
When a home buyer asks me about ranches I usually only look at "ranches" and depending on inventory may then start looking at "raised ranches". It also depends on the buyer. Is it an elderly person who will be living alone? Is it a buyer who may eventually want to move the parents into the home or want the basement for additional living space?
I've found the "I'm getting older and don't want to deal with the steps", the more common buyer.
Hope this is of some help.
Long & Foster Real Estate, Inc
Lehigh Valley Office, PA