What’s My Rancho Santa Fe Home Worth? Market Report for February 2017

By
Real Estate Agent with Solutions Real Estate CA DRE #01490977

What’s the Value of My Rancho Santa Fe Home?

 

Rancho Santa Fe Country ClubAs 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 Rancho Santa Fe homes for sale.

 

The Rancho Santa Fe housing market is very localized, and the most expensive community, on average, in San Diego County, with large estates, gated communities, and luxury and equestrian properties. Knowing what is going on in the market with regard to inventory and sales is important for making an informed buying or selling decision.

 

READ MORE:

Rancho Santa Fe - Luxury Home Buyer's Paradise in San Diego

 

Here is a summary of the Rancho Santa Fe real estate market for February 2017 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed.

 

  • Sales of detached homes for February increased significantly, from 10 to 17 (up 70%). There were 5 attached home sales in February, versus 2 last month. 36% of the transactions were cash, compared to 75% in January

  • The average sales price of the detached homes sold was $2,127,310, a decrease by 36% from the January average sales price. The average price of the attached homes that were sold was $741,835, down 19% from the average of the 2 homes sold last month. The MEDIAN sales price for detached homes was $1,750,000 (up 2%); the median price of the attached homes was $758,000 (down 17%).

  • Average marketing time for the detached homes was 91 days (the same as last month). The attached homes sold in an average of 45 days

  • The detached homes sold, on average, for 90% of asking price; the attached homes sold, on average, at 96% of list price; 3 (14%) homes sold for asking price or better.

  • As of the end of February there was 1 home in the Rancho Santa Fe real estate market with a Contingent status (i.e., short sale and REO homes that had offers being reviewed), compared to 2 last month.

 

Rancho Santa Fe homes

 

As of the end of February 2017 there were 236 Rancho Santa Fe homes for sale (97% of these are detached single family homes), the same as last month. This represents an inventory of 2.4 months for attached homes (down from 2.8 months in January) and 11.2 months for detached homes at the current rate of sales (based on a 6-month period), up from 10.4 months in January.

 

The high end market continues to shift in Rancho Santa Fe, and overall is a market that strongly favors buyers of detached single family homes, luxury properties and estates, but is a strong seller’s market for buyers of attached homes.

 

The number of Rancho Santa Fe homes coming on the market in February, 47, was down 16% from the number of new listings in January. The number of homes going pending in February, 19 (excluding those that closed escrow), also decreased, by 19%!

 

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.

 

SEARCH FOR HOMES FOR SALE IN RANCHO SANTA FE CALIFORNIA

SEARCH FOR CONDOS FOR SALE IN RANCHO SANTA FE CALIFORNIA

 

READ MORE:

What’s my Rancho Santa Fe Home Worth? Homes for sale for January 2017

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Rainmaker
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Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Jeff, from the pictures and home prices, it's evident that Rancho Santa Fe area is a great place to call home, those looking for a luxury home will certainly fall in love with the area. Buyers and sellers would be wise to contact you for their real estate needs.

Mar 07, 2017 01:15 PM #1
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Thank you for the kind words Beth Atalay  It is a unique community with lots of luxury properties, many part time residents who own multiple homes, and a country-like feel with lots of trees, orchards and open space. It DOES come at a price.

Jeff

Mar 07, 2017 08:06 PM #2
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Jeff Dowler, CRS

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