What’s the Vaue of My Rancho Santa Fe Home?
Rancho Santa Fe Home Sales for September 2020
Buyers and sellers in the Rancho Santa Fe real estate market should have up to date information about current local market conditions in order to make educated decisions about Rancho Santa Fe homes for sale, whether buying, selling, or investing.
The Rancho Santa Fe housing market is the most expensive community, on average, in San Diego County, with large estates, gated communities, and luxury and equestrian properties on expansive lots often measured in acres. Rancho Santa Fe currently has 13 properties listed at over $10,000,000, with 1 at $29,995,000!
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Here is a summary of the Rancho Santa Fe housing market for September 2020 based on information from the MLS (private sales are not included). These data are deemed reliable at the time this report was written but are not guaranteed.
- There were 31 sales of single family homes for September, 18% fewer than last month. There were 2 townhome sales in September versus 3 sales last month.
- The average sales price of the single family homes was $3,184,726, down 12% from the average sales price last month, and no doubt impacted by last month’s sale of 6 homes over $5M with 1 at $12M and 1 at $20M that raised the average. The median sales price for the single family homes was $2,575,000 (5% lower).
- The single family homes sold, on average, for 92% of the original asking price, and the 2 townhomes at 82% and 94% of the original list price; 7 single family home buyers paid full price or more for their new homes (21%).
- As of the end of September there were no homes in the Rancho Santa Fe real estate market with a Contingent status (now referred to as “Active Under Contract” in our MLS). Sometimes these are short sale and REO homes that have offers being reviewed by the lenders, while others are first right of refusals, and occasionally court approvals.
At the end of September 2020 there were 157 Rancho Santa Fe homes for sale (95% of these are single family homes), ranging in price from $785,000 to $29,995,000, 5 fewer than in August. This represents inventory of 4.8 months for condos, townhomes and duplexes (up from 4.3 months in August) and 4.6 months for single family homes at the current rate of sales (based on a 6-month period), down from 5.4 months last month.
The high end market continues to shift in Rancho Santa Fe, and is now a market that favors sellers for single family homes, luxury properties and estates, having shifted from a buyers’ market after many months, and remains a strong sellers’ market for condos, townhomes and duplexes with 8 available listings.
The number of Rancho Santa Fe homes coming on the market in September, 59, was about the same as last month (60), averaging 2 per day. Buyers were busy in September, with 49 homes going pending compared to 36 (excluding those that closed escrow) for last month.
If you would like more details about the Rancho Santa Fe real estate market with regard to current activity as well as the specific areas such as Fairbanks Ranch and the Covenant, please call me at (760) 840-1360.
I am happy to discuss your housing needs and budget, and help you develop a strategy to buy your new Rancho Santa Fe home in 2020.
If you are considering selling your Rancho Santa Fe home we should discuss your plans and timing, a free market and equity analysis, and create a strategy to get your home sold in the time frame that works for you!
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If I can provide more information about homes for sale in Carlsbad and in surrounding areas, local housing market conditions, or assist you, friends or family in a purchase or sale, please call or text me at (760) 840-1360, or email me at JeffDowlerSolutions@gmail.com
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