What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Real Estate Market Report for January 2021
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 14 properties listed at over $10,000,000, with 1 at $98,500,000!
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Rancho Santa Fe - Luxury Home Buyer's Paradise in San Diego
Here is a summary of the Rancho Santa Fe housing market for January 2021 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 22 sales of single family homes for January (MLS shows 23 sales but 1 home was listed twice), 31% fewer than last month! There were only 2 townhome sales in January, compared to 5 in December.
- Sales prices ranged from $850,000 to $22,995,000
- The average sales price of the single family homes was $4,495,182, up 29% from the average sales price last month (no doubt due to the sale of 6 homes over $5M, with 2 of them over $10M and 1 at $22,995,000 which raised the average), and $850,000 for the condos and townhomes, a decrease of 31% (both homes sold for $850,000).
- The median sales price for single family homes was $3,500,000 (27% higher, clearly impacted by the $22,995,000 sale).
- The single family homes sold, on average, for 95% of the original asking price, and the 2 townhomes both sold for full price; 9 of the 24 buyers (36%) paid full price or more for their new homes.
- As of the end of January there were 4 homes in the Rancho Santa Fe real estate market with an Active Under Contract status, compared to 3 last month.
At the end of January 2021 there were 109 Rancho Santa Fe homes for sale (96% of these are single family homes), ranging in price from $999,000 to $98,500,000, 8% fewer than in December. This represents an inventory of 1 month for condos, townhomes and duplexes (up from 25 days in December) and 3.8 months for single family homes at the current rate of sales (based on a 6-month period), an increase from 2.9 months last month.
The high end market continues to shift in Rancho Santa Fe, and is a strong sellers’ market for single family homes, luxury properties and estates, and a very strong sellers’ market for condos, townhomes and duplexes with only 4 listings available.
The number of Rancho Santa Fe homes coming on the market in January rose substantially from 25 to 38. Buyers were fairly busy in January, with 23 homes going pending, compared to 27 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 specific housing needs and budget, and help you develop a strategy to buy your new Rancho Santa Fe home in 2021.
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!
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READ MORE:
What’s my Rancho Santa Fe Home Worth? Homes for Sale for December 2020
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