What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Real Estate Market Report for December 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 for sale at over $10,000,000, with 1 estate at $98,500,000!
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Here is a summary of the Rancho Santa Fe housing market for December 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 32 sales of single family homes for December, 5 more than last month (up 19%)! There were 5 townhome sales in December, as there were in November.
- Sales prices ranged from $850,320 to $11,500,000
- The average sales price of the single family homes was $3,495,259, up 11% from the average sales price last month, and $1,223,064 for the condos and townhomes, an increase of 13%. The median sales price for single family homes was $2,747,500 (14% lower), and $1,150,000 for the condos, townhomes and duplexes (up 15%).
- The single family homes sold, on average, for 93% of the original asking price, and the condos, townhomes and duplexes sold at 96%; 8 buyers (22%) paid full price or more for their new homes.
- As of the end of December there were 3 homes in the Rancho Santa Fe real estate market with an Active Under Contract status, the same as the last 2 months.
At the end of December 2020 there were 119 Rancho Santa Fe homes for sale (97% of these are single family homes), ranging in price from $1,150,000 to $98,500,000, 8% fewer than in November. This represents an inventory of only 25 days for condos, townhomes and duplexes (down from 1.9 months in November) and 2.9 months for single family homes at the current rate of sales (based on a 6-month period), down from 3.1 months last month.
The high end market continues to shift in Rancho Santa Fe, and is a very strong sellers’ market for single family homes, luxury properties and estates, and for condos, townhomes and duplexes with only 3 listings available.
The number of Rancho Santa Fe homes coming on the market in December, 25, was about the same as last month (24). Buyers were busy in December, 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 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 free market and equity analysis, and create a plan to get your home sold in the time frame that works for you!