What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Home Sales for February 2022
It’s essential for buyers and sellers in the Rancho Santa Fe real estate market to have current information about local market conditions so they can make informed decisions about Rancho Santa Fe homes for sale, whether selling, buying, or investing.
The Rancho Santa Fe housing market is the most expensive community in San Diego County, on average. There are large estates, gated communities, and luxury and equestrian properties on expansive lots that tend to be measured in acres. At the time of this report there are 18 properties priced over $10,000,000, with 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 February 2022 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 24 sales of single family homes in February, 10 more sales than last month. There were 2 condo/townhomes sales in February compared to none for the last 2 months.
- Sales prices ranged from $1,150,000 to $9,600,000
- The average sales price of the single family homes was $5,131,583, down 4% from the average sales price in January (no doubt in part due to the sale last month of 5 homes over $5M with 1 at $17,000,000 that had raised the average). The condo and townhome sold for $1,150,000 & $2.4M respectively
- Single family homes were on the market an average of 42 days, with 11 selling in 1 week or less; the townhome sold in 7 days, the condo took 40 days
- The median sales price for single family homes was $4,595,000, up 14%.
- On average the single family homes sold for 95% of the original asking price. 8 of the homes sold for list price or more, with 1 at about $800,000 over asking!
- As of the end of February there was 1 home in the Rancho Santa Fe housing market with an Active Under Contract status, compared to 2 last month.
At the end of February 2022 there were 49 Rancho Santa Fe homes for sale (all are single family detached homes), ranging in price from $1,800,000 to $98,500,000, the same as last month. This represents a supply of 2.7 months for single family homes at the current rate of sales (based on a 6-month period), down from 3.3 months in January.
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. At the time this report was compiled there was only 1 condo listing.
The number of Rancho Santa Fe homes coming on the market in February remained stable from last month at 27, which is good news for buyers. The number of homes going pending declined from 21 last month to 15 (excluding homes that closed escrow in February).
If you would like more detailed information about the Rancho Santa Fe housing market regarding current activity, as well as for particular areas such as Fairbanks Ranch and the Covenant, please reach out to me via call or text 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 particular plans and timing, and provide a free market and equity analysis. Then we can develop a plan 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 January 2022
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