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Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for June 2010

By
Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

Rancho Santa Fe Real Estate Market for June 2010

 

Rancho Santa Fe Real Estate Market Report for June 2010

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 Home Buyer's Paradise in San Diego

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Here is a summary of the Rancho Santa Fe real estate market for June 2010 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed. 

 

 

TOTAL

DETACHED

ATTACHED

# SOLD

23 (up 10%)

23 (up 10%)

0

Average $

$2,032,278 (up 13%)

$2,032,278 (up 13%)

0

DOM

118

118

0

Sale $/List $

92%

92%

0

 

The number of homes sold in Rancho Santa Fe rose over last month, but no attached homes closed in June.  Average prices also increased after reaching the lowest average in many months. As is common in expensive communities, the marketing time has remained fairly high increase fairly significantly after 3 months of decline.

 As of the end of June there were 14 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) and, thus, are included in the Active statistics below.

As of June 2010 there were 317 Ranch Santa Fe homes for sale (95% of these are detached), just 3 more than last month. This represents an inventory of 12 months for attached homes (down from 16.5 in May), and 17.9 months for detached homes at the current rate of sales (based on a 6-month period), which is down substantially from 23.3 months in May.

A few more Rancho Santa Fe homes came on the market in June: 61 as opposed to 59 last month, with 16 homes going pending during the same period, about the same (1 less) than in May.

While higher end homes are selling in the Rancho Santa Fe real estate market (relative to their average price), all the sales thus far this year are under $10 million. There are currently 13 homes on the market in the $10 to $30 million range, some of which have been on the market well over 1 year.

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 - Rancho Santa Fe Real Estate Market Report for May 2010

Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for April 2010

Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for March 2010

Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for February 2010

Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for January 2010

Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for December 2009

Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for November 2009

Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for October 2009

Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for September 2009

Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for August 2009

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (2)

Nevin Williams
Fairway Independent Mortgage Corporation - Cary, NC
Senior Mortgage Advisor

Jeff - Nice market report!  Amazing how the second highest priced home zip code is moving homes.

Jul 11, 2010 07:25 AM
William Johnson
Retired - La Jolla, CA
Retired

Hi Jeff, Looks like the top end is moving again or maybe just pent up demand. Maybe they know know something we don't, :-). Let's hope so.

Jul 11, 2010 07:37 AM