Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for December 2010

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Real Estate Agent with eXp Realty of California CA DRE #01490977

Rancho Santa Fe Real Estate Market Report for December 2010

Inn at Rancho Santa Fe

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 buying or selling a Rancho Santa Fe home. 

The Rancho Santa Fe real estate market is very localized, and the most expensive community, on average, in San Diego County. Knowing what is going on in the market with regard to inventory and sales is important for making a buying or selling decision. Finding comparables for determining price for either a listing or a purchase can sometimes be tricky since many high-end properties are unique. 

READ MORE: 

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Rancho Santa Fe Homes - The Crosby: Golf Community Extraordinaire

Here is a summary of the Rancho Santa Fe real estate market for December 2010 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed. 

 

TOTAL

DETACHED

ATTACHED

# SOLD

20 (up 33%)

18 (up 50%)

2 (down 50%)

Average $

 

$2,605,565 (up 20%)

$2,824,461 (up 10%)

$635,500 (no change)

DOM

129

136

62

Sale $/List $

90%

89%

100%

The number of detached homes sold in Rancho Santa Fe increased substantially over the prior month; average prices for detached homes also increased as did the overall average price. Both attached homes that sold were distress sales - 1 short sale and 1 REO, selling at list price in one case and slightly over in the over.

As of the end of December there were 12 homes in the Rancho Santa Fe real estate market with a Contingent status (i.e., short sale and REO homes that had offers being reviewed), the same as last month, and, thus, are included in the Active statistics below. We are seeing more high end homes (over $1 million) that are short sales and REOs with offers being reviewed.

As of December 2010 there were 248 Ranch Santa Fe homes for sale (97% of these are detached), 9% less than last month, the 4th month of inventory decline, perhaps not surprising at this time of year. This represents an inventory of 3.4 months for attached homes (down from 5.5 months in November), and 16.4 months for detached homes at the current rate of sales (based on a 6-month period), which is down from 16.8 months in November.

The number of Rancho Santa Fe homes coming on the market in December declined again: 20 as opposed to 25 last month, with 12 homes going pending during the same period, 8 less than in November.

READ MORE: How Important is Inventory when Buying or Selling? Very!! 

Data are based on information provided by the MLS 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 let me know. 

READ MORE:

Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for November 2010

Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for October 2010

Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for September 2010

Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for August 2010

Rancho Santa Fe Homes for Sale - Rancho Santa Fe Real Estate Market Report for July 2010

Rancho Santa Fe Homes for Sale - Rancho Santa Fe Real Estate Market Report for June 2010

 

 

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Rainer
253,769
Randy Elliott
RE/MAX Gold - Lodi, CA
REALTOR : Lodi / Stockton, CA

Jeff, it sure is nice to see the word "up" when any form of market results are listed.

Jan 02, 2011 09:36 PM #1
Rainmaker
1,816,979
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Jeff, always enjoy your market reports...it's interesting too how the east-west differences in what is important such as attached vs. detached...are the attached similar to 'condo' style living but the homeowner actually owns the land?  like to know  thanks

Jan 02, 2011 10:49 PM #2
Ambassador
4,209,954
Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Randy - except, perhaps days on market. LOL

Ginny - attached homes are generally condos, but they can be single family homes in some cases (e.g., a twin home which if called a duplex elsewhere). Typically the land is not owned (definitely not with condos) but it is in the case of twin homes (fee simply ownership).

Jeff

Jan 03, 2011 02:15 AM #3
Rainmaker
1,074,684
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Jeff I just wanted to drop by and say hello and wish you an awesome year in Real Estate for 2011!

Jan 03, 2011 06:38 AM #4
Anonymous
Saeed
Probably not.The Trustee's are so often court appointed and will run from such a resqeut. This is because you become a new liability to the estate, while the probate is in process.If the Trustee is will appointed, you might have a shot at it but in my experience this is subject to court approval anyway, so not very likely.
Aug 06, 2012 12:29 AM #5
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Jeff Dowler, CRS

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