Rancho Santa Fe Real Estate Market Report for October 2011
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 or selling a 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. 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 since many high-end properties are unique.
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Rancho Santa Fe - Luxury Home Buyer's Paradise in San Diego
Walkable Neighborhoods – Rancho Santa Fe Real Estate Near Ranch Santa Fe Village
Rancho Santa Fe Homes – The Crosby: Golf Community Extraordinaire
Here is a summary of the Rancho Santa Fe real estate market for October 2011 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed.
· Total sales for October decreased by 24%, with 13 detached homes sold; no attached homes sold in October (same as in September).
· The average sales price of the detached homes sold was $2,159,194, an increase of 14% from September’s average sales price.
· Average days on market for the detached homes was 113 days (compared to 188 last month).
· Detached homes sold, on average, for 90% of asking price.
As of the end of October there were 13 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), 3 less than last month, and these are included in the Active statistics below.
As of October 2011 there were 290 Ranch Santa Fe homes for sale (93% of these are detached), down just 2 (1%) from last month. This represents an inventory of 17 months for attached homes (up from 13.3 months in September), and 16.5 months for detached homes at the current rate of sales (based on a 6-month period), which is up from 16 months in September.
The number of Rancho Santa Fe homes coming on the market in October decreased 10%, to 35 from 39 last month, with 8 homes going pending during the same period, a downward shift from last month (13).
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.
SEARCH FOR HOMES FOR SALE IN RANCHO SANTA FE CALIFORNIA
READ MORE:
Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for September 2011
Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for August 2011
Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for July 2011
Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for June 2011
Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for May 2011
Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for April 2011
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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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Rancho Santa Fe is one very special place -I've stayed at the inn a few times. Many years ago there was a great Southwestern restaurant called Cilantro's - not in town, but closer to Del Mar.
Prices holding firm or increasing is still a very healthy sign for your market Jeff. Thanks for such a detailed Rancho Santa Fe report.
Jeff down 24% is sales is not good. Hope that was just a short blip on the screen and that it does a 180 degree turn next this month.
Jeff - It's great that the average sales price in Rancho Santa Fe increased.
Margaret - it is a wonderful community, and you can see why the pricing is what it is.
Gary - thanks for the compliment. The RSF has remained fairly stable although the very high end homes (well above $10M) are moving VERY slowly.
George - the sales volume tends to shift in RSF every month. Sales volume shifted down in most of the area communities during this time frame.
Michelle - it does bounce around a bit but has been over $2M, on average, for quite a while.
Jeff