Rancho Santa Fe Real Estate Market Report for July 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. 

READ MORE: 

 Rancho Santa Fe - Luxury Home Buyer's Paradise in San Diego

Walkable Neighborhoods – Rancho Santa Fe Real Estate Near Ranch Santa Fe Village

Rancho Santa Fe Homes – The Crosby: Golf Community Extraordinaire

Here is a summary of the Rancho Santa Fe real estate market for July 2011 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed. 

·        13 Detached homes were sold, about half the number sold in June (24); no attached homes sold in July.

·        The average sales price of homes sold was $2,402,302, an increase of 22% over June’s average sales price for detached homes ($1,965,000). Over half the homes sold for over $2M with one close to $6M, helping to raise the average.

·        Average days on market for the detached homes was 137, down from last month’s 158 days, and homes sold, on average, for 89% of asking price (93% in June).

As of the end of July there were 13 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 more than last month, and these are included in the Active statistics below..

As of July 2011 there were 310 Ranch Santa Fe homes for sale (94% of these are detached), up 4% from last month, another inventory increase. This represents an inventory of 15.4 months for attached homes (up from 12.7 months in June), and 13.5 months for detached homes at the current rate of sales (based on a 6-month period), which is down from 14.5 months in May.

The number of Rancho Santa Fe homes coming on the market in July rose by 12%, to 47 from 42 last month, with 14 homes going pending during the same period, an increase of 2 over June 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. 

Search for Rancho Santa Fe Homes for Sale

READ MORE:

Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for June 2011

Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for May 2011

Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for July 2011

Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for March 2011

Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for February 2011

Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for January 2011