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.
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Here is a summary of the Rancho Santa Fe real estate market for February 2010 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
|
15 (up 25%) |
15 (up 36%) |
0 (down 1) |
|
Average $
|
$2,604,416 (down 20%%) |
$2,604,416 (down 25%) |
$0 |
|
DOM
|
198 |
198 |
0 |
|
Sale $/List $
|
90% |
90% |
0 |
The number of homes sold in Rancho Santa Fe increased over January sales, while average sales prices declined fairly significantly for detached homes (no attached homes were sold). As is common in expensive communities, the marketing time remains fairly high but declined by about 30% on average; 3 of the homes were short sales and 2 were REOs.
As of the end of February there were 11 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), 4 less than last month. Until approved these homes are considered active and, thus, are included in the Active statistics below.
As of February 2010 there were 275 Ranch Santa Fe homes for sale (94% of these are detached), up by 4 from last month following declines in both January and December. This represents an inventory of 10.2 months for attached homes (up from 7.8 in January), but 21 months for detached homes at the current rate of sales (based on a 6-month period), which is down modestly from 22.1 months from last month.
Significantly more Rancho Santa Fe homes came on the market in February, 57 as opposed to 42 last month, with 25 homes going pending during the same period, over double the number of pendings in January.
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 10 homes on the market in the $10 to $30 million range, some of which have been on the market more than 1 year.
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 January 2010
Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for December 2009
Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for November 2009
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 © 2010 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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If I can provide more information about Carlsbad real estate and surrounding areas, the housing market, or otherwise assist you, friends or family in a home search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
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