What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Home Sales for June 2021
It’s important for buyers and sellers in the Rancho Santa Fe real estate market to have current information about the local market conditions so they can 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. There are currently 19 properties priced at over $10,000,000, including 1 at $98,500,000!
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Here is a summary of the Rancho Santa Fe housing market for June 2021 based on information from the MLS (private sales are not included). These data are considered reliable at the time this report was written but are not guaranteed.
- There were 40 sales of single family homes for June, 7 fewer than last month and another decrease. There was only 1 condo sale in June, compared to 2 in May.
- Sales prices ranged from $675,000 to $13,500,000
- The average sales price of the single family homes was $4,214,357, up 9% from the average sales price last month (likely the result of 5 homes sold in June for more than $7M); the condo sold for $675,000
- The median sales price for single family homes was $3,550,000 (3% lower than May).
- The single family homes sold, on average, for 99% of the original asking price, with 15 properties (37%) selling for list price or higher. The condo sold for the asking price.
- As of the end of June 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 June 2021 there were 83 Rancho Santa Fe homes for sale (all but 3 are single family detached homes), ranging in price from $1,200,000 to $98,500,000, 3 more than in May. This represents an inventory of 25 days for condos, townhomes and duplexes, and 1.8 months for single family homes at the current rate of sales (based on a 3-month period), a decrease from 1.9 months last month.
Homes sold, on average, fairly quickly. The condo sold in 8 days, and the single family homes averaged a little over a month. But at the same time 32% of the single family homes sold in 1 week or less!
The high end market continues to change in Rancho Santa Fe, and is a strong sellers’ market for single family homes, luxury properties and estates (a dramatic shift from 1 year ago when it was a strong buyer’s market), and is a very strong seller’s market for condos, townhomes and duplexes, with only 1 condo available at the time this was written.
The number of Rancho Santa Fe homes coming on the market in June declined from 53 to 41. Buyers were fairly busy in June, with 34 homes going pending, 2 more than 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!