What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Home Sales for October 2021
Buyers and sellers in the Rancho Santa Fe real estate market should have up-to-date information about the local market conditions so they can make educated decisions about Rancho Santa Fe homes for sale, whether they are selling, buying, or investing.
The Rancho Santa Fe housing market is the most expensive community, on average, in San Diego County. There are large estates, gated communities, and luxury and equestrian properties on expansive lots commonly measured in acres. At the time of this writing there are 20 properties listed at over $10,000,000, including 1 at $98,500,000!
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Rancho Santa Fe - Luxury Home Buyer's Paradise in San Diego
Here is a summary of the Rancho Santa Fe housing market for October 2021 based on data from the MLS (private sales are not included). These data are considered reliable at the time this report was written but are not guaranteed.
- There were 23 sales of single family homes in October, 30% fewer than last month. There were only 2 condo sales in October, compared to 8 last month.
- Sales prices ranged from $1,125,000 to $10,600,000
- The average sales price of the single family homes was $4,586,391, up 5% from the average sales price last month (no doubt in part due to the sale of 5 homes over $7M with 1 at $10,600,000); the condos/townhomes averaged $1,187,500, down 26% from last month’s average
- The median sales price for single family homes was $4,300,000 (up 16%).
- On average the single family homes sold for 98% of the original asking price, while condos and townhomes averaged 106%. 36% of the homes (9) sold for list price or higher.
- As of the end of October there was 1 home in the Rancho Santa Fe real estate market with an Active Under Contract status, the same as last month.
At the end of October 2021 there were 62 Rancho Santa Fe homes for sale (all but 1 are single family detached homes), ranging in price from $1,150,000 to $98,500,000, about the same as last month (61). This represents a supply of 2.1 months for single family homes at the current rate of sales (based on a 6-month period), compared to 1.8 months in September. There is only 1 attached home for sale as of this writing.
The high end market continues to shift in Rancho Santa Fe, and is a strong sellers’ market for single family homes, luxury properties and estates (a dramatic change from June 2020 when it was a strong buyer’s market), and is a very strong seller’s market for condos, townhomes and duplexes, with only 2 properties available at the time this report was posted.
The number of Rancho Santa Fe homes coming on the market in October rose significantly from last month, from 14 to 26. In contrast 11 homes went pending, 5 fewer pendings than last month (excluding those that closed escrow).
If you would like more specifics about the Rancho Santa Fe real estate market with regard to current activity as well as particular areas such as Fairbanks Ranch and the Covenant, please reach out to me at (760) 840-1360.
I am happy to discuss your specific housing needs and budget, and help you develop a strategy to buy your new Rancho Santa Fe home.
If you are considering selling your Rancho Santa Fe home I am happy to discuss your specific plans and timing, a free market and equity analysis, and help 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 September 2021
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