What Happened in the Rancho Santa Fe Real Estate Market Report in November 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.
READ MORE:
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 November 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 November remained stable, with 11 detached homes sold, just 1 less than in October; only 1 attached home sold in November – the demand for attached homes/condos remains limited.
· The average sales price of the detached homes sold was $2,803,354, an increase of 30% from October’s average sales price. This is due to the sale of a $9.225M home, the most expensive sale YTD in Rancho Santa Fe, for cash – there are currently 10 homes for sale priced at over $10 million (up to around $25 million)
· The attached home sold for $580,000, taking 69 days to sell at 94% of asking
· Average marketing time for the detached homes was 99 days (compared to 113 last month).
· Detached homes sold, on average, for 95% of asking price.
As of the end of November there were 16 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 more than last month, and these are included in the Active statistics below.
As of November 2011 there were 278 Ranch Santa Fe homes for sale (93% of these are detached), down 4% from last month, a trend we have seen in other North San Diego County communities. This represents an inventory of 20.4 months for attached homes (up from 17 months in October), and 17.6 months for detached homes at the current rate of sales (based on a 6-month period), which is up from 165 months in October.
The number of Rancho Santa Fe homes coming on the market in November decreased slightly, to 34 from 35 last month, with 15 homes going pending during the same period, almost twice as many as last month (8).
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 Reports for October 2011
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
**************************************
ALL ABOUT THE CALIFORNIA RELOCATION DUDE
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
Serving Carlsbad (including Aviara, La Costa & Carlsbad Village), Encinitas (including Leucadia & Olivenhain), Cardiff, Solana Beach, Del Mar, La Jolla, Rancho Santa Fe, San Marcos (including San Elijo Hills), Oceanside, Carmel Valley, Escondido, and San Diego
Carlsbad Breaking News ~ Oceanside Breaking News ~ Encinitas Breaking News
All content ©Copyright by Jeff Dowler. All rights reserved.
Good report, Jeff. It is a time of great opportunity for home buyers.
Happy Holidays!
Autumn Blooms in Kentlands IMG_2565
Photograph by Roy Kelley
Roy and Dolores Kelley Photographs
Hi Jeff I really like your market report and love that name "Rancho Santa Fe"
Jeff - Great real estate market report for Rancho Santa fe homes, it's very detailed and easy to follow.
Gorgeous photo as always! Jeff Dowler you really know your market and can give sellers and buyers the detailed information they need to make a great decision about selling or buying real estate in Rancho Santa Fe!