What’s My Rancho Santa Fe Home Worth? Home Sales for March 2019

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Real Estate Agent with Solutions Real Estate CA DRE #01490977

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

Rancho Santa Fe Real Estate Market Report for March 2019

 

Rancho Santa Fe Country ClubIt’s important for buyers and sellers in the Rancho Santa Fe real estate market to have up to date information about current local market conditions to be able to make informed decisions about Rancho Santa Fe homes for sale, whether buying, selling, or investing. 

 

The Rancho Santa Fe housing market is the most expensive community, on average, in San Diego County, with large estates, gated communities, and luxury and equestrian properties on expansive lots often measured in acres. Rancho Santa Fe currently has 10 properties listed at over $10,000,000, with 1 at $39,000,000!

 

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 March 2019 based on information from the MLS (private sales are not included). These data are deemed reliable at the time this report was written but are not guaranteed. 

 

  •         Sales of detached homes for March dropped from 8 last month to 7. There were 3 attached home sales in March, compared to 1 last month. Only 10% of the transactions were cash, compared to 78% in February.
  •         The average sales price of the detached homes was $2,147,714, down 47% from the average sales price last month (no doubt impacted by the sale of 5 homes for over $3M, including 2 at more than $6M, last month that raised the average substantially). The average price of the attached homes was $978,391. The median sales price for detached homes was $2,150,000 (down 39%), again impacted by lower priced sales compared to last month.
  •         Average marketing time for the detached homes was 96 days compared to 114 in February; the attached properties sold in an average of 24 days.
  •         The detached homes sold, on average, for 91% of the original asking price; the attached homes sold at 98% of original list price.
  •         As of the end of March there were 2 detached homes in the Rancho Santa Fe real estate market with a Contingent status (i.e., typically these are short sale and REO homes that have offers being reviewed by the lenders) versus 5 last month. 1 is a short sale and 1 is an REO, both awaiting approvals.

 

As of the end of March 2019 there were 194 Rancho Santa Fe homes for sale (95% of these are detached single family homes), up 2% from February and the 3rd consecutive increase in inventory. This represents an inventory of 5.1 months for attached homes (up from 5 months last month) and 20.8 months for detached homes at the current rate of sales (based on a 6-month period), up from 14.7 months last month.

 

Golf course homes in Rancho Santa Fe

 

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

 

The number of Rancho Santa Fe homes coming on the market in March rose, from 47 in February to 54 (up 15%). The number of homes going pending in March, 23 (excluding those that closed escrow), increased again, compared to 16 February pendings!

 

Data are based on MLS information for homes that went under contract in the last couple of months or sold in March. 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 call me at (760) 840-1360.

 

I am happy to discuss your housing needs and budget, and help you develop a strategy to buy your new Rancho Santa Fe home in 2019, or to sell your current home.

 

And if you wish to sell your Rancho Santa Fe home we should discuss your plans and timing, a free market analysis, and create a strategy to get your home sold in the time frame that works for you!

 

SEARCH RANCHO SANTA FE HOMES FOR SALE

 

READ MORE:

What’s my Rancho Santa Fe Home Worth? Homes for Sale for January 2019

 

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Rainer
336,123
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

Apr 22, 2019 09:40 PM #1
Rainmaker
993,044
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good evening 

Thank you for sharing your information with us Jeff Dowler, CRS 

Have a great night.

Monday April 22, 2019

Apr 22, 2019 09:57 PM #2
Rainmaker
3,147,775
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff, I have to smile you and I can relate to those astronomically high asking prices... unlike many on this platform can have a hard time fathoming such list price points:)Endre

Apr 22, 2019 10:35 PM #3
Rainmaker
4,826,473
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Jeff Dowler, CRS I had to look twice and recount the zeros in those numbers!!!  but that's the flavor of your area.... anyone who is thinking of buying and/or selling in Rancho Santa Fe would be wise to call Jeff Dowler for guidance.... Jeff has a clear understanding of that area and the history of it....

Apr 23, 2019 03:41 AM #4
Rainmaker
3,128,396
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. Unlike Endre Barath, Jr. my jaw drops when seeing so many commas in your numbers. Then again, it's California! Enjoy your day!

Apr 23, 2019 05:44 AM #5
Rainmaker
1,136,140
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Jeff Dowler, CRS - I stayed at the Inn at Rancho Santa Fe (a long time ago) but it stayed in my mind.  It is a beautiful area not far from the avocado terraced land just north of it.  It does not shock me that the home prices are high. I lived about 40 minutes from this area in Corona.

Buyers and sellers would be smart to enlist your services to get the best out of their real estate experience.

Apr 23, 2019 05:58 PM #6
Rainmaker
1,505,754
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Alexandria Virginia Homes For Sale

Jeff, something I always notice and like about your market reports is you provide the numbers and then explain what they mean. Anyone can share numbers but, knowing what they translate too really shows that you understand the market. Rancho Santa Fe sounds incredible. I did a double take when I saw the prices. Wow!

Apr 24, 2019 06:40 AM #7
Rainmaker
2,453,600
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

That's valuable real estate market data for home buyers and sellers in Rancho Santa Fe, Jeff.

Apr 25, 2019 02:40 AM #8
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