What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Home Sales for August 2021
It’s important that buyers and sellers in the Rancho Santa Fe real estate market have up-to-date information about the local market conditions so they can make educated decisions about Rancho Santa Fe homes for sale, whether they are 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 commonly measured in acres. At of this writing there are 17 properties listed for sale at over $10,000,000, with 1 at $98,500,000!
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Here is a summary of the Rancho Santa Fe housing market for August 2021 based on information from the MLS (private sales are not included). These data are considered reliable at the time this report was compiled but are not guaranteed.
- There were 31 sales of single family homes in August, 9 fewer than last month, and another decrease! There were only 2 condo sales in August, the same as last month.
- Sales prices ranged from $775,000 to $6,750,000
- The average sales price of the single family homes was $3,925,790, down 14% from the average sales price last month; the 2 condos averaged $1,135,000
- The median sales price for single family homes was $3,687,500 (6% higher than in July).
- On average the single family homes sold for 99% of the original asking price; however, 13 properties (39%) sold for list price or higher. Both condos sold for the list price.
- As of the end of August there was 1 home in the Rancho Santa Fe real estate market with an Active Under Contract status, the same as for last month.
At the end of August 2021 there were 69 Rancho Santa Fe homes for sale (all but 2 are single family detached homes), ranging in price from $789,900 to $98,500,000, 2 fewer than in July. This represents a supply of only 1.2 months for condos, townhomes and duplexes (down from 2.5 months in July), and only 1.8 months for single family homes at the current rate of sales (based on a 6-month period), an increase from 1.6 months last month.
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 about 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 2 properties available at the time this report was written.
The number of Rancho Santa Fe homes coming on the market in August rose from last month, from 30 to 37. Buyers were busy in August, with 32 homes going pending, up 28% 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 in 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 I am happy to discuss your specific plans and timing, provide a free market and equity analysis, and create a plan to get your home sold in the time frame that works for you for the best price, terms and conditions!