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.
READ MORE: Rancho Santa Fe - Luxury Residential Community in SouthernCalifornia
Here is a summary of the Rancho Santa Fe real estate market for September 2009 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed.
|
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TOTAL
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DETACHED
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ATTACHED
|
|
# SOLD
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13 (no change)
|
11
|
2
|
|
Average $
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$2,315,061 (up 7%)
|
$2,630,981 (down 1%)
|
$577,500 (up 4%)
|
|
DOM
|
114
|
118
|
93
|
|
Sale $/List $
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93%
|
93%
|
95%
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The number of homes sold in Rancho Santa Fe in September is the same as August. As is somewhat common in expensive communities, the marketing time remains fairly high, although lower than in many other areas in the US. Two of the detached home sales were REOs; of the attached properties both were distress sales - 1 REO and 1 short sale, both selling for under $650K.
As of the end of September there were 8 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), with no change from August. Until approved these homes are considered active and, thus, are included in the Active statistics below.
As of September 2009 there were 354 Ranch Santa Fe homes for sale (94% of these are detached), a 5% decline from August. This represents an inventory of 11 months for attached homes (minor change), but 36 months for detached homes at the current rate of sales (based on a 6-month period), down 7months from August.
36 Rancho Santa Fe homes came on the market in September, 33% fewer than in August, with 8 homes going pending during the same period, almost half the number going pending in August.
While higher end homes are selling in RSF (relative to their average price), all the sales thus far this year are under $8 million. There are currently 15 homes on the market in the $10 to $35 million range, some of which have been on the market more than 1 year and several over 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 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 Carlsbad Homes and Real Estate Tidbits
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