What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Market Report for September 2022
It’s essential for buyers and sellers in the Rancho Santa Fe real estate market to have current information about the local market conditions in order to make informed decisions about Rancho Santa Fe homes for sale, whether they are buying, selling, 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 commonly measured in acres. At the time of this report there are 23 properties listed for more than $10,000,000, with 1 estate at $98,500,000 and also co-listed with a Los Angeles brokerage.
LEARN 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 September 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 11 sales of single family homes in September, 2 fewer than in August. There were only 2 condo/townhome sales compared to 6 last month.
- Sales prices ranged from $1,330,000 to $6,550,000
- The average sales price of the single family homes was $4,503,606, 11% higher than the average sales price in August (no doubt due to the sale of 8 homes over $4M that raised the average). The average sales price of the condos/townhomes was $1,665,000, up 7% from August.
- Single family homes were on the market for an average of 34 days, with 4 selling in 1 week or less; the condo sale took 3 days to go pending, the townhome sold in 9 days.
- The median sales price for single family homes was $4,350,000, up 22% from last month.
- On average, single family homes sold for 89% of the original list price; the condo sold for 111% of asking price, the townhome went to slightly over the list price.
- As of the end of September there was 1 home in the Rancho Santa Fe housing market with an Active Under Contract status, versus 2 last month.
At the end of September there were 71 Rancho Santa Fe homes for sale (68 are single family detached homes), ranging in price from $1,549,000 to $98,500,000, a slight drop from last month. This is a supply of 4.9 months for detached single family homes at the current rate of sales (based on a 3-month period), up from 4 months in August. At this writing there are 3 condo and townhouse listings, a supply of 1 month at the current rate of sales if no new listings come on the market.
The high end market continues to shift in Rancho Santa Fe, and remains a sellers’ market for single family homes, luxury properties and estates, with a limited supply of condos and townhomes which is fairly typical.
The number of Rancho Santa Fe homes coming on the market in September rose from 17 to 22 last month. The number of homes going pending increased by 1 to 11 (excluding homes that closed escrow in September).
If you would like more specific 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 let’s discuss your specific plans and timing, and I’ll provide a free market and equity analysis. Then we’ll 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 August 2022
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