What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Home Sales for November 2021
Buyers and sellers in the Rancho Santa Fe real estate market should have current information about local market conditions in order to make educated decisions about Rancho Santa Fe homes for sale, whether they are selling, buying, or investing.
On average, the Rancho Santa Fe housing market is the most expensive community in San Diego County. There are large estates, gated communities, and luxury and equestrian properties on expansive lots that are often measured in acres. As of this writing there are 17 active listings for more than $10,000,000, with 1 at $98,500,000!
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 housing market for November 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 13 sales of single family homes in November, 43% fewer sales than last month. There were 3 condo sales in November, compared to 2 last month.
- Sales prices ranged from $780,000 to $15,600,000
- The average sales price of the single family homes was $5,172,178, up 13% from the average sales price last month (no doubt in part due to the sale of 9 homes over $3M with 1 at $15,600,000 and 1 at $11,750,000); the condos/townhomes averaged $1,160,000, down 2% from last month’s average
- The median sales price for single family homes was $3,970,000 (down 8%), and was $1,250,000 for condos, townhomes and twinhomes.
- On average the single family homes sold for 100% of the original asking price, while condos and townhomes averaged 108%. 38% of the homes (6) sold for list price or higher.
- As of the end of November there was 1 home in the Rancho Santa Fe real estate market with an Active Under Contract status, the same as the last 2 months.
At the end of November 2021 there were 58 Rancho Santa Fe homes for sale (all but 2 are single family detached homes), ranging in price from $1,150,000 to $98,500,000, just a little less than last month (62). This represents a supply of 2.4 months for single family homes at the current rate of sales (based on a 6-month period), compared to 2.1 months in October. There were only 2 attached homes for sale as of the beginning of November.
The high end market has continued to shift in Rancho Santa Fe, and remains a strong sellers’ market for single family homes, luxury properties and estates (this is a significant shift from early 2020 when it was a strong buyer’s market), and is a very strong seller’s market for condos, townhomes and duplexes, with only 1 listing available as of today.
The number of Rancho Santa Fe homes coming on the market in November dropped from last month, from 26 to 16, perhaps not a surprise for this time of year. In contrast 15 homes went pending, 4 more pendings than last month (excluding homes that closed escrow in November).
If you would like more specifics about the Rancho Santa Fe real estate market regarding current activity as well as for 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, provide a free market and equity analysis, and help develop a strategy to get your home sold in the time frame that works for you for the best price, terms and conditions!
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READ MORE:
What’s my Rancho Santa Fe Home Worth? Homes for Sale for October 2021
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