What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Home Sales for February 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 February 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 33 sales of single family homes for February, 50% more than last month! There were 5 townhome sales in February, compared to 2 in January.
· Sales prices ranged from $880,000 to $12,500,000
· The average sales price of the single family homes was $4,495,182, down 26% from the average sales price last month (no doubt the result of last month’s sale of 6 homes over $5M, with 2 of them over $10M and 1 at $22,995,000, which raised the average); the average sales price for the condos and townhomes, was $1,046,800, an increase of 23%.
· The median sales price for single family homes was $3,290,930 (6% lower). The median for the condos and townhomes was $1,100,000.
· The single family homes sold, on average, for 95% of the original asking price. The condos and townhomes sold, on average, for full price, with some selling below and some above asking (one sold at 15% above the list price).
· As of the end of February there were 2 homes in the Rancho Santa Fe real estate market with an Active Under Contract status, compared to 4 last month.
At the end of February 2021 there were 96 Rancho Santa Fe homes for sale (all of these are single family homes), ranging in price from $1,350,000 to $98,500,000, 12% fewer than in January. This represents an inventory of 7.5 months for condos, townhomes and duplexes (up from 25 days in January), and 3.3 months for single family homes at the current rate of sales (based on a 6-month period), a decrease from 3.8 months last month.
The high end market continues to shift in Rancho Santa Fe, and is a sellers’ market for single family homes, luxury properties and estates, but has shifted to a buyers’ market for condos, townhomes and duplexes with only 2 listings available at the time this article was posted.
The number of Rancho Santa Fe homes coming on the market in February dropped slightly from 38 to 36. Buyers were busy in February, with 35 homes going pending, compared to 23 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 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 January 2021
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