What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Real Estate Market Report March 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 in order to make educated 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 17 properties listed at over $10,000,000, including 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 March 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 36 sales of single family homes for March, 3 more than last month! There were only 2 townhome sales in March, compared to 5 in February.
- Sales prices ranged from $1,044,000 to $7,400,000
- The average sales price of the single family homes was $3,151,232, down 30% from the average sales price last month (likely the result of last month’s sale of 8 homes over $4M, with 1 at $12,500,000, which raised the average); the average sales price for the condos and townhomes, was $1,111,375, an increase of 6%.
- The median sales price for single family homes was $2,765,000 (16% lower). The median for the condos and townhomes was $1,111,375.
- The single family homes sold, on average, for 96% of the original asking price, with 11 properties selling for list price or higher. The 2 condos sold for 100% and 102% of asking price.
- As of the end of March there were 2 homes in the Rancho Santa Fe real estate market with an Active Under Contract status, the same as last month.
At the end of March 2021 there were 91 Rancho Santa Fe homes for sale (97% of these are single family detached homes), ranging in price from $1,350,000 to $98,500,000, 5% fewer than in February. This represents an inventory of only 1 month for condos, townhomes and duplexes, and 2.9 months for single family homes at the current rate of sales (based on a 6-month period), a decrease from 3.3 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 has shifted to a very strong seller’s market for condos, townhomes and duplexes, with only 2 listings available at the time this was written.
The number of Rancho Santa Fe homes coming on the market in March rose substantially from 36 to 52. Buyers were busy again in March, with 41 homes going pending, compared to 35 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 February 2021
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