What’s My Rancho Santa Fe Home Worth?
Rancho Santa Fe Home Sales for August 2022
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 in order to make informed decisions about Rancho Santa Fe homes for sale, whether they are buying, selling, 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 are often measured in acres. At the time of this report there are 19 properties listed for more than $10,000,000, with 1 estate at $98,500,000 and also co-listed with an LA brokerage.
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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 August 2022 based on data 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 13 sales of single family homes in August, 5 fewer than in July. There were 6 condo/townhome sales compared to only 1 last month.
- Sales prices ranged from $1,450,000 to $16,595,000
- The average sales price of the single family homes was $4,055,277, 44% higher than the average sales price in July (no doubt due to the sale of 6 homes over $4M with 3 of them for $12M or more that raised the average). The average sales prices of the condos/townhomes was $1,553,333.
- Single family homes were on the market for an average of 31 days, with 4 selling in 1 week or less; 1 condo sale took 6 days to go pending, 1 townhome sold in 5 days.
- The median sales price for single family homes was $3,570,000, down 9% from last month. The median sales price for condos and townhomes was $1,500,000.
- On average, single family homes sold for 94% of the original list price, and the condos/townhomes for 96%. Overall, 3 Rancho Santa Fe properties sold for asking price or better.
- As of the end of August there were 2 homes in the Rancho Santa Fe housing market with an Active Under Contract status, versus 1 last month.
At the end of August 2022 there were 76 Rancho Santa Fe homes for sale (73 are single family detached homes), ranging in price from $1,595,000 to $98,500,000, a 12% drop from last month. This is a supply of 4 months for detached single family homes at the current rate of sales (based on a 3-month period), down from 4.2 months in July. At this writing there are 3 condo and townhouse listings, a supply of 27 days at the current rate of sales if no new listings come on the market.
The high end market continues to shift in Rancho Santa Fe, and remains a sellers’ market for single family homes, luxury properties and estates, with a limited supply of condos and townhomes which is fairly typical.
The number of Rancho Santa Fe homes coming on the market in August dropped to 17 from 35 last month. The number of homes going pending declined by 1 to 10 (excluding homes that closed escrow in August).
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 let’s discuss your specific plans and timing, and I’ll provide a free market and equity analysis. Then we’ll 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 July 2022
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