What’s the Value of My Rancho Santa Fe Home?
Real Estate Market Report for December 2017
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 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 on expansive lots. Indeed, the 2 most expensive listings in San Diego County, at $30,000,000 and $39,900,000 - $44,975,000, are in RSF.
READ MORE ABOUT RANCHO SANTA FE:
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 2017 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 increased by 41% to 24. There were 0 attached home sales in December, compared to 2 last month. 21% of the transactions were cash, compared to 47% in November
- The average sales price of the detached homes sold was $2,823,870, an increase by 4% from the November average sales price. The MEDIAN sales price for detached homes was $2,357,500 (down 9%)
- Average marketing time for the detached homes was 86 days compared to 96 in November.
- The detached homes sold, on average, for 89% of asking price; 3 homes sold for the asking price or better (13%).
- As of the end of December there was 1 home in the Rancho Santa Fe real estate market with a Contingent status (i.e., typically short sale and REO homes that have offers being reviewed by the lenders).
As of the end of December 2017 there were 178 Rancho Santa Fe homes for sale (97% of these are detached single family homes), down 10% from last month, another decrease in inventory. This represents an inventory of 4.6 months for attached homes (up from 4 months in November) and 8.6 months for detached homes at the current rate of sales (based on a 6-month period), up from 7.2 months in October.
The high end market continues to shift in Rancho Santa Fe, and is a market that is a buyers market for detached single family homes, luxury properties and estates, but remains a seller’s market for buyers of attached homes.
The number of Rancho Santa Fe homes coming on the market in December, 24, was down 29% from last month. The number of homes going pending in December, 12 (excluding those that closed escrow), also decreased, by 25%!
Data are based on MLS information 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 get in touch with me at (760) 840-1360. I am also happy to discuss your housing needs and budget and help you develop a strategy to get you into your new Rancho Santa Fe home in 2017.
And if you wish to sell your Rancho Santa Fe home we should discuss your plans and timing, the current market value, and create a strategy to get your home sold in the time frame that works for you!
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READ MORE:
What’s my Rancho Santa Fe Home Worth? Homes for Sale for November 2017
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