Rancho Santa Fe Real Estate Market Report for February 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 February 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
|
13 (down 7%) |
12 (down 8%) |
1 (no change) |
|
Average $
|
$2,173,615 (up 20%) |
$2,309,333 (up 22%) |
$545,000 (down 8%) |
|
DOM
|
147 |
153 |
76 |
|
Sale $/List $
|
92% |
94% |
99% |
The number of detached homes sold in Rancho Santa Fe declined by only 1 home from the prior month; in contrast average prices rose fairly substantially. Only 1 attached home sold during February, the same as last month.
As of the end of February there were 11 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), 1 more than last month, and, thus, are included in the Active statistics below..
As of February 2011 there were 253 Ranch Santa Fe homes for sale (95% of these are detached), 3 less than last month. This represents an inventory of 7.1 months for attached homes (up from 6.6 months in January), and 16.9 months for detached homes at the current rate of sales (based on a 6-month period), which is down from 17.9 months in January.
The number of Rancho Santa Fe homes coming on the market in February was less than in January, down 43% (38 new listings; keep in mind January had over 60 new listings, a huge increase over December), with 26 homes going pending during the same period, up by 53% over January pendings.
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 January 2011
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
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