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 October 2009 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed. 

*Only 1 home sold so no average calculated nor change in average pricing.

The number of homes sold in Rancho Santa Fe in October was just slightly less than in the previous month. As is common in expensive communities, the marketing time remains fairly high and, in fact, rose substantially for homes sold in October. Two of the 11 detached homes sold were REOs. 50% of the homes sold in October were cash transactions.

 As of the end of October there were 10 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), 2 more than last month. Until approved these homes are considered active and, thus, are included in the Active statistics below.

As of October 2009 there were 345 Ranch Santa Fe homes for sale (95% of these are detached), a 3% decline from September. This represents an inventory of 6.9 months for attached homes (down a couple of months), but 30.9 months for detached homes at the current rate of sales (based on a 6-month period), which is, however, down from 36 months in September. 

43 Rancho Santa Fe homes came on the market in October, about 1/3 more than in September, with 16 homes going pending during the same period, twice the number going pending last month. 

While higher end homes are selling in RSF (relative to their average price), all the sales thus far this year are under $10 million. There are currently 14 homes on the market in the $10 to $29 million range, some of which have been on the market more than 1 year and 2 for well more than 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:

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 © 2009 Jeff Dowler "The California Relocation Dude" Carlsbad Homes and Real Estate Tidbits