What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Home Sales for May 2022
It’s essential that sellers and buyers in the Rancho Santa Fe real estate market have current information about local market conditions so they can make educated decisions about Rancho Santa Fe homes for sale, whether they are selling, buying, or investing.
On average, the Rancho Santa Fe housing market is the most expensive community in San Diego County. There are large estates, gated communities, and luxury and equestrian properties on expansive lots that often are measured in acres. At the time of this report there are 17 properties for sale priced at more than $10,000,000, including 1 for $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 May 2022 based on data from the MLS (any private sales are not included). These data are considered reliable at the time this report was written but are not guaranteed.
- There were 17 sales of single family homes in May, 45% fewer sales than last month. 4 condo/townhomes sold in May, compared to 3 last month.
- Sales prices ranged from $1,325,000 to $11,000,000
- The average sales price of the single family homes was $5,238,235, down 9% from the average sales price in April. The condo and townhome sales averaged $1,593,750, 13% higher.
- Single family homes were on the market an average of 37 days, with 6 selling in 1 week or less; 3 of the 4 condo and townhome sales were less than 1 week.
- The median sales price for single family homes was $4,800,000, the same as last month. The median was $1,525,000 for condos and townhomes, up by 9%.
- On average single family homes sold for 100% of the original asking price. Overall, 11 Rancho Santa Fe properties sold for over asking price (52%).
- As of the end of May there was 1 home in the Rancho Santa Fe housing market with an Active Under Contract status, compared to 3 last month.
At the end of May 2022 there were 67 Rancho Santa Fe homes for sale (97% are single family detached homes), ranging in price from $1,599,000 to $98,500,000, up by 20% from last month. This is a supply of 3 months for detached single family homes at the current rate of sales (based on a 3-month period), up from 2.3 months in April. At this writing there are only 2 condo and townhouse listings.
The high end market has continued to change in Rancho Santa Fe, but remains a strong sellers’ market for single family homes, luxury properties and estates.
The number of Rancho Santa Fe homes coming on the market in May increased from last month from 24 to 39 (up 63%). Similarly, the number of homes going pending also increased, from 16 to 23 (excluding homes that closed escrow in May), up 44%.
If you would like more specific information about the Rancho Santa Fe housing market regarding current activity, as well as for particular areas such as Fairbanks Ranch and the Covenant, please reach out to me via call or text 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.
If you are considering selling your Rancho Santa Fe home I am happy to discuss your particular plans and timing, and provide a free market and equity analysis. Then we can develop a plan to get your home sold in the time frame that works for you, for the best price, terms, and conditions!
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READ MORE:
What’s my Rancho Santa Fe Home Worth? Homes for Sale for April 2022
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