What’s My Rancho Santa Fe Home Worth? Market Report December 2016

By
Real Estate Agent with Solutions Real Estate CalBRE License #01490977
http://activerain.com/droplet/4YHp

What’s the Value of My Rancho Santa Fe Home?

 

Rancho Santa Fe Country ClubAs 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 Rancho Santa Fe homes for sale.

 

The Rancho Santa Fe housing market is very localized, and the most expensive community, on average, in San Diego County, with large estates, gated communities, and luxury and equestrian properties. Knowing what is going on in the market with regard to inventory and sales is important for making an informed buying or selling decision.

 

READ MORE:

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

 

Here is a summary of the Rancho Santa Fe real estate market for December 2016 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed.

 

  • Sales of detached homes for December declined, as we saw in other communities, from 26 to 20 (down 23%). There were no attached home sales in December, versus 1 last month. 40% of the transactions were cash, compared to 27% in November.

  • Home sales were down 5% for detached homes compared to December 2015, and down 100% attached (but keep in mind the volume was only 2 back in December 2015)

  • The average sales price of the detached homes sold was $3,342,330, a decrease by 7% from the November average sales price, despite the fact that 4 homes sold for over $6M; this is an increase of 24% in average sales price compared to December 2015. The MEDIAN sales price for detached homes was $2,450,000 (down 11%); there were no attached home sales so no median price.

  • Average marketing time for the detached homes was 121 days (compared to 122 days last month).

  • The detached homes sold, on average, for 91% of asking price; 2 homes (10%) sold for over asking price, at 102% and 104%.

 

Whispering Palms homes in Rancho Santa Fe

 

As of the end of December there was 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), up from 1 in November.

 

As of December 2016 there were 236 Rancho Santa Fe homes for sale (98% of these are detached single family homes), down by 7% from November. This represents an inventory of 5.5 months for attached homes (up from 2.8 months in November) and 10.2 months for detached homes at the current rate of sales (based on a 6-month period), down from 10.6 months in November.

 

The high end market continues to shift in Rancho Santa Fe, and overall is a market that strongly favors buyers of detached single family homes, luxury properties and estates, and is a seller’s market for buyers of attached homes but trending toward becoming a balanced market.

 

The number of Rancho Santa Fe homes coming on the market in December, 30, was down by 17% compared to November. The number of homes going pending in December, 8 (excluding those that closed escrow), increased, however, by 38%.

 

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:

What’s my Rancho Santa Fe Home Worth? Homes for sale for November 2016

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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Great report as always Jeff Dowler  . You are the agent to call in Rancho Santa Fe

Jan 08, 2017 02:01 PM #1
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Those considering the sale of their Rancho Santa Fe home would be well served by picking up the phone and giving you a call, Jeff.

Jan 08, 2017 04:19 PM #2
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

You are the expert in this area, Jeff. Buyers and sellers will be in the best hands with your representation.

Jan 08, 2017 08:08 PM #3
Rainmaker
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Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hi Jeff -- a very good overview of the Rancho Santa Fe real estate market.  It's interesting to see the high number of properties available.  It appears that buyers have choices in this very special community.    

Jan 09, 2017 06:49 AM #4
Rainmaker
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Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Alexandria Virginia Homes For Sale

Jeff, your knowledge of the Rancho Santa Fe area shines as always. You're truly the local expert and sellers would be in the best hands working with you. 

Jan 09, 2017 06:52 AM #5
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Getting the listing is key in your market more than others. In Oklahoma City our inventory is increasing and depending where you are the median price is anywhere from $165,000 to $290,000. Thanks for sharing a totally different market condition.

Jan 09, 2017 07:37 AM #6
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Thanks for the kind words Hannah Williams 

Hi Gabe Sanders  - I appreciate your stopping by. It's an interesting market to watch

Jeff

Jan 09, 2017 08:22 AM #7
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Thank you for the compliment Debbie Reynolds 

There ARE some pretty nice choices in a wide range of prices, although all over $1M Michael Jacobs 

Jeff

Jan 09, 2017 08:23 AM #8
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Jeff Dowler

The Southern California Relocation Dude - Carlsbad
What's my Carlsbad CA Area Home Worth??
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