Rancho Santa Fe Homes for Sale - What Happened in the Rancho Santa Fe Real Estate Market in December 2012?
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 decisionregarding what to do with regard to Rancho Santa Fe homes for sale.
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 an informed 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 December 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 December did not shift dramatically from November, with 20 detached Rancho Santa Fe homes sold (down 9%), and 1 attached home sold (there are only 4 on the market currently).
· The average sales price of the detached homes sold was $2,204,787, down 7% from the November average sales price
· The attached home sold for $685,000 (compared to the average sales price of the 2 attached homes sold last month at $750,000), but only taking 3 days to sell at the asking price
· Average marketing time for the detached homes was 121 days (compared to 84 days last month)
· The detached homes sold, on average, for 91% of asking price. Buyers negotiated an average of 9% off the asking prices on their home purchases, with some homes selling for less and other selling at or above asking price
As of the end of December there were 9 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), the same number as last month, and these are included in the Active statistics below.
As of December 2012 there were 197 Ranch Santa Fe homes for sale (98% of these are detached), down 5% from last month, another decline, no doubt in part due to the time of year. This represents an inventory of 2.7 months for attached homes (up from 1.3 months in November), and 9.5 months for detached homes at the current rate of sales (based on a 6-month period), the same as in November. The high end market continues to be competitive in Rancho Santa Fe, especially for the very limited number of attached homes but tends to favors buyers for detached single family properties.
The number of Rancho Santa Fe homes coming on the market in December (26) was down 24% from last month, with 14 homes going pending during the same period, about the same as in November (15).
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:
Comments(2)