Rancho Santa Fe Real Estate Market Report for January 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 January 2011 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
|
14 (down 30%) |
13 (down 28%) |
1 (down 50%) |
Average $
|
$1,803,887 (down 31%) |
$1,897,271 (down 33%) |
$589,900 (down 7%) |
DOM
|
169 |
168 |
187 |
Sale $/List $
|
92% |
92% |
98% |
The number of detached homes sold in Rancho Santa Fe decreased substantially over the prior month; average prices for detached homes also decreased as did the overall average price. Only 1 attached home sold during January, an REO.
As of the end of December 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), 2 less than last month, and, thus, are included in the Active statistics below..
As of January 2011 there were 256 Ranch Santa Fe homes for sale (96% of these are detached), 3% more than last month, the first inventory increase following 4 months of decline. This represents an inventory of 6.6 months for attached homes (up from 3.4 months in December), and 17.9 months for detached homes at the current rate of sales (based on a 6-month period), which is up from 16.4 months in December.
The number of Rancho Santa Fe homes coming on the market in January rose substantially: more than 3 times as many homes were listed as in December, 67 vs. 20, with 17 homes going pending during the same period, 5 more than in December (up 42%).
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 December 2010
Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for November 2010
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
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