Rancho Santa Fe Homes for Sale - What Happened in the Rancho Santa Fe Real Estate Market Report in May 2012?

Rancho Santa Fe Homes for Sale - Homes for Sale in Rancho Santa Fe CA

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. 

Rancho Santa Fe Homes for Sale - Homes for Sale in Rancho Santa Fe CA  Rancho Santa Fe Homes for Sale - Homes for Sale in Rancho Santa Fe CA

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 May 2012 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed. 

·         Total sales for May rose from April, with 29 detached Rancho Santa Fe homes sold (up 71%); 2 attached home2 sold as in May, twice the number in April (there are only 6 attached home listings currently).

·         The average sales price of the detached homes sold was $2,776,629, up 45% from April’s average sales price (where 10 homes sold at $3 million or above, 1 at $7.225M)

·         The average price of the attached homes sold was $708,750 (compare to the sale of 1 home last month at $425,000), taking 61 days to sell on average at 93% of the list price

·         Average marketing time for the detached homes was 143 days (compared to 83 days last month)

·         The detached homes sold, on average, for 92% of asking price. Buyers negotiated an average of 7-8% off the asking prices on their home purchases

As of the end of May there were 4 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), less than half the number last month, and these are included in the Active statistics below.

As of May 2012 there were 240 Ranch Santa Fe homes for sale (98% of these are detached), 6 more than last month (up 3%), one of the few communities locally where inventory rose. This represents an inventory of only 3 months for attached homes (down from 4.6 months in April), and 13.4 months for detached homes at the current rate of sales (based on a 6-month period), which is down from 15.4 months in April.

The number of Rancho Santa Fe homes coming on the market in May increased to 53 (up 26%), with 21 homes going pending during the same period, an increase in pendings by 17% over last month (18).

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 HOMES FOR SALE IN RANCHO SANTA FE CALIFORNIA

SEARCH FOR CONDOS FOR SALE IN RANCHO SANTA FE CALIFORNIA

 

READ MORE:

Rancho Santa Fe Homes for Sale – What Happened in the Rancho Santa Fe Real Estate Market in April 2012?

Rancho Santa Fe Homes for Sale – What Happened in the Rancho Santa Fe Real Estate Market in March 2012?

Rancho Santa Fe Homes for Sale – What Happened in the Rancho Santa Fe Real Estate Market in February 2012?

 

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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com

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This post has been included in California Real Estate News San Diego County, CA Real Estate News Rancho Santa Fe, CA Real Estate News
Post is included in group: CALIFORNIA REAL ESTATE
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6 Comments on Rancho Santa Fe Homes for Sale - What Happened in the Rancho Santa Fe Real Estate Market Report in May 2012?

JUN
16
594,206 Points 22 Featured Posts Localism Sponsor Outside Blog Called Shot Master

I love driving through Rancho Santa Fe on the way to the beach!  Such a lovely leisurely drive!
7:22am • #1
941,827 Points 94 Featured Posts Outside Blog Attended Rain Camp

29 detached homes sold in Rancho Santa Fe; that seems like a lot. Wow! 
7:30am • #2
861,517 Points 174 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Wow, that's keeping up with Los Altos Hills (#3 market in the US)!  Nice to hear one of the marquis luxury markets in that area has turned around so nicely.
8:05am • #3
1,913,487 Points 386 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Jeff, with skies that blue, Rancho Sante Fe has to be an amazing place to live!
8:33am • #4
1,361,045 Points 244 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Jeff it is easy to se why those house in Rancho Santa Fe command high prices.  That is a gorgeous area.
6:23pm • #5
JUN
17
1,585,526 Points 430 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Jane - it is a special community in many ways, and NOT just because of how pricey it is. But that does add to the allure. And they have a terrific Art Fair in the town center each year.

Melissa - the high end market bounces around a bit but this was a surprise.

Bryan - yep. And RSF has showed up on Forbes list of the most expensive zips a few times, a year or so ago at #1 or 2.

Jeff
7:36pm • #7


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