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 decisionregarding 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 Buyer's Paradise in San Diego
Here is a summary of the Rancho Santa Fe real estate market for November 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
|
14 (up 25%) |
11 (up 9%) |
3 (up by 2) |
|
Average $
|
$2,068,570 (down 21%) |
$2,420,880 (down 13%) |
$658,333 |
|
DOM
|
130 |
137 |
101 |
|
Sale $/List $
|
90% |
90% |
93% |
The number of homes sold in Rancho Santa Fe in October increased over the previous month. As is common in expensive communities, the marketing time remains fairly high but dropped significantly across the board.
As of the end of November there were 9 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), 1 less than last month. Until approved these homes are considered active and, thus, are included in the Active statistics below.
As of November 2009 there were 345 Ranch Santa Fe homes for sale (94% of these are detached), a 6% decline from October (following a 3% from September). This represents an inventory of 8 months for attached homes (up about 1 month), but 28.9 months for detached homes at the current rate of sales (based on a 6-month period), which is, however, down from 30.9 months in October, which had dropped from September.
Fewer Rancho Santa Fe homes came on the market in November, 29 as opposed to 43 in September, with 10 homes (down 37%) going pending during the same period.
While higher end homes are selling in the Rancho Santa Fe real estate market (relative to their average price), all the sales thus far this year are under $10 million. There are currently 15 homes on the market in the $10 to $30 million range, some of which have been on the market more than 1 year and 2 for well more than 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.
READ MORE:
Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for October 2009
Ranch Santa Fe Real Estate Market Report for September 2009
Rancho Santa Fe Real Estate Market Report for August 2009
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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 "The California Relocation Dude" 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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Looks like encouraging numbers if I'm reading right and 15 sold is a positive sign !
Good luck ! Hope some of them are your sales Jeff :o)
Sheldon - I wish. The RSF market is pretty unique adn there are agents who have been there for years who only see in that community. But it is good to see some very high end homes moving in this market.
Jeff
You're such a showoff >=I I want to trade markets with you!