What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Real Estate Market Report for November 2020
It’s important that buyers and sellers in the Rancho Santa Fe real estate market have up to date information about current local market conditions so they can 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 13 properties listed at over $10,000,000, with 1 at $98,500,000 (a remarkable estate with multiple lots and residences)!
READ 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 November 2020 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.
- There were 27 sales of single family homes for November, less than half the number for last month! There 5 townhome sales in November versus 1 last month.
- Sales prices ranged from $760,000 to $6,995,000
- The average sales price of the single family homes was $3,161,226, down 1% from the average sales price last month, and $1,080,590 for the condos and townhomes. The median sales price for single family homes was $3,200,000 (17% higher), and $999,950 for the condos, townhomes and duplexes.
- The single family homes sold, on average, for 95% of the original asking price, and the condos, townhomes and duplexes sold at 98%; 9 buyers (28%) paid full price or more for their new homes.
- As of the end of November there were 3 homes in the Rancho Santa Fe real estate market with an Active Under Contract status, the same as last month.
At the end of November 2020 there were 130 Rancho Santa Fe homes for sale, ranging in price from $850,000 to $98,500,000, 16% fewer than in October. 94% of these are single family homes.This represents an inventory of only 1.9 months for condos, townhomes and duplexes (down from 4 months in October) and 3.1 months for single family homes at the current rate of sales (based on a 6-month period), down from 3.4 months last month.
The high end market continues to shift in Rancho Santa Fe, and is a market that strongly favors sellers for single family homes, luxury properties and estates, having shifted from a buyers’ market several months ago, and is a very strong sellers’ market for condos, townhomes and duplexes with only 5 available listings.
The number of Rancho Santa Fe homes coming on the market in November, 24, was about half the number of new listings last month (46). Buyers were fairly busy again in November, with 27 homes going pending, about 1 per day, the same as last month (excluding those that closed escrow).
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 2020.
If you are considering selling your Rancho Santa Fe home we should discuss your plans and timing, a market and equity analysis, and create a strategy to get your home sold in the time frame that works for you!
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READ MORE:
What’s my Rancho Santa Fe Home Worth? Homes for Sale for October 2020
