As a buyer or seller in the Rancho Santa Fe real estate market, having information about the current market conditions will enable you to make an informed decision regarding what to do with regard to buying a home in Rancho Santa Fe, or selling your Rancho Santa Fe home.
The Rancho Santa Fe real estate market is very localized, and the most expensive community, on average, in San Diego County, and knowing what is going on in the market with regard to inventory and sales is important for making a buying or selling decision. Finding comparables for determining price for either a listing or a purchase can sometimes be tricky.
READ MORE: Rancho Santa Fe - Luxury Home Buyers Paradise in San Diego
Here is a summary of the Rancho Santa Fe real estate market for August 2009 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# SOLD |
13 (down 19%) |
10 |
3 |
|
Average $ |
$2,164,615 (up 11%) |
$2,647,500 (up 24%) |
$555,000 (down 7%) |
|
DOM |
184 |
185 |
179 |
|
Sale $/List $ |
95% |
96% |
94% |
The number of homes sold in Rancho Santa Fe in August declined from July by 3. But because of the small number of homes sold, it would be unwise to draw any firm conclusions of the pricing or other trends. Similarly, while the average price for detached homes increased significantly, this average is impacted by sale of a home over $5 million. As is somewhat common in expensive communities, the marketing time remains fairly high, although in RSF it is lower than in many other areas in the US.
As of the end of August there were 8 homes in the Rancho Santa Fe real estate market with a Contingent status (i.e., short sale and REO homes that had offers being reviewed by the lenders). Until approved these homes are considered active and, thus, are included in the Active statistics below.
As of August 2009 there were 372 Ranch Santa Fe homes for sale (354 detached homes, and 18 attached homes). This represents an inventory of 10.8 months for attached homes, but 42 months (3.5 years) for detached homes at the current rate of sales (based on a 6-month period).
54 Ranch Santa Fe homes came on the market in August (47 detached, 7 attached), with 15 homes going pending during the same period -14 detached and 1 attached.
While high end homes are selling in RSF, all the sales thus far this year were under $8 million. There are currently 25 homes on the market in the $10 to $35 million range, some of which have been on the market more than 1 year and several over 2 years.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
Data are based on information provided by the MLS for homes that went under contract in the last couple of months. 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 let me know.
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If I can provide more information about Rancho Santa Fe real estate and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com
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