Rancho Santa Fe Real Estate Market Report for November 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 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.
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Here is a summary of the Rancho Santa Fe real estate market for November 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
|
15 (down 12%) |
12 (down 14%) |
3 (no change) |
|
Average $
|
$2,177,706 (down 16%) |
$2,562,500 (down 15%) |
$638,533 (up 5%) |
|
DOM
|
157 |
151 |
178 |
|
Sale $/List $
|
91% |
90% |
94% |
The number of detached homes sold in Rancho Santa Fe declined over the prior month, and average prices for detached homes increased. For the 2nd month in a row there were several attached home sales occurring after 3 months of no closings.
As of the end of November there were 12 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. We are seeing more high end homes (over $1 million) that are short sales and REOs with offers being reviewed.
As of November 2010 there were 274 Ranch Santa Fe homes for sale (96% of these are detached), 7% less than last month, the 3rd month of inventory decline, perhaps not surprising at this time of year. This represents an inventory of 5.5 months for attached homes (up from 4.9 months in October), and 16.8 months for detached homes at the current rate of sales (based on a 6-month period), which is down from 17.4 months in October.
The number of Rancho Santa Fe homes coming on the market in November declined again: 25 as opposed to 34 last month, with 20 homes going pending during the same period, 1 more than in October.
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 Homes for Sale | Rancho Santa Fe Real Estate Market Report for October 2010
Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for September 2010
Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for August 2010
Rancho Santa Fe Homes for Sale - Rancho Santa Fe Real Estate Market Report for July 2010
Rancho Santa Fe Homes for Sale - Rancho Santa Fe Real Estate Market Report for June 2010
Rancho Santa Fe Real Estate - Rancho Santa Fe Real Estate Market Report for May 2010
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