What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Real Estate Market Report
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 selling, buying, or investing.
The Rancho Santa Fe housing market is the most expensive community, on average, in San Diego County. There are large estates, gated communities, and luxury and equestrian properties on expansive lots commonly measured in acres. At the time of this writing there are 17 properties listed at over $10,000,000, with 1 priced at $98,500,000!
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Here is a summary of the Rancho Santa Fe housing market for September 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 33 sales of single family homes in September, 2 more than last month. There were 8 condo sales in September, compared to only 2 last month.
- Sales prices ranged from $825,000 to $14,500,000
- The average sales price of the single family homes was $4,366,144, up 11% from the average sales price last month (no doubt in part due to the sale of 8 homes over $5M with 1 at $14,500,000); the condos/townhomes averaged $1,596,875, up 41% from last month’s average
- The median sales price for single family homes was $3,700,000 (no change), and $1,237,500 for condos and townhomes.
- On average the single family homes sold for 96% of the original asking price, while condos and townhomes averaged 99%. 35% of the homes (14) sold for list price or higher.
- As of the end of September there was 1 home in the Rancho Santa Fe real estate market with an Active Under Contract status, the same as last month.
At the end of September 2021 there were 61 Rancho Santa Fe homes for sale (all but 1 are single family detached homes), ranging in price from $789,900 to $98,500,000, 12% fewer than in August. This represents a supply of only 1.8 months for single family homes at the current rate of sales (based on a 6-month period), the same as 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 (a dramatic change from June 2020 when it was a strong buyer’s market), and also is a very strong seller’s market for condos, townhomes and duplexes, with only 2 properties available at the time this report was posted.
The number of Rancho Santa Fe homes coming on the market in September dropped dramatically from last month, from 37 to 14. 16 homes went pending, half the number of pending for 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 I am happy to discuss your specific 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!