What Happened in the Rancho Santa Fe Real Estate Market Report in December 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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Here is a summary of the Rancho Santa Fe real estate market for December 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 December rose substantially over November, with 18 detached homes sold (up 63%); there were 3 attached homes sold in contrast to 1 last month.
· The average sales price of the detached homes sold was $2,088,436, a decrease of 26% from November’s average sales price. This is likely due to the sale of a $9.225M home in the prior month that raised the average substantially
· The average sales price of the attached homes was $554,666, taking 131 days to sell at 90% of asking
· Average marketing time for the detached homes was 151 days (compared to 99 last month).
· The detached homes sold, on average, for 90% of asking price, the same for the attached homes. Buyers negotiated a fair amount off asking prices on their home purchases, averaging 10%.
As of the end of December 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 December 2011 there were 230 Ranch Santa Fe homes for sale (93% of these are detached), down 17% from last month, a trend we have seen in other North San Diego County communities. This represents an inventory of 16.1 months for attached homes (down from 20.4 months in November), and 10 months for detached homes at the current rate of sales (based on a 6-month period), which is down from 17.6 months in November.
The number of Rancho Santa Fe homes coming on the market in December decreased significantly: only 13, down from 34 last month, which means a further tightening of the Rancho Santa Fe real estate market, with 14 homes going pending during the same period, about the same as last month (15).
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, Cielo 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
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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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Home sales increasing; that is excellent news! We are seeing that here in Florida as well!
Barbara-Jo
It's something we like to see, especially the sellers!
Jeff