What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Home Sales for October 2022
It’s important that buyers and sellers in the Rancho Santa Fe housing market have up-to-date information about local market conditions so they can make informed decisions about Rancho Santa Fe homes for sale, whether buying, selling, or investing.
The Rancho Santa Fe housing market is the most expensive community in San Diego County on average. There are large estates, gated communities, and luxury and equestrian properties on expansive lots often measured in acres. At the time of this report there are 18 properties listed for more than $10,000,000, with 1 estate at $98,500,000 (it’s co-listed with a Los Angeles 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 October 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 14 single family homes sold in October, 3 more than in September. There was only 1 condo sale compared to 2 last month.
- Sales prices ranged from $2,100,000 to $12,900,000
- The average sales price of the single family homes was $5,498,142, 22% higher than the average sales price in September (no doubt due, in part, to the sale of 9 homes over $4M that raised the average). The sales price of the condo that sold was $2,400,000.
- Single family homes were on the market for an average of 53 days, with 4 selling in 1 week or less; the condo sale took 50 days to go pending.
- The median sales price for single family homes was $4,700,000, up 8% from last month.
- On average, single family homes sold for 92% of the original list price; the condo sold for 91% of asking price.
- As of the end of October there were no homes in the Rancho Santa Fe housing market with an Active Under Contract status, versus 1 last month.
At the end of October there were 70 Rancho Santa Fe homes for sale (69 are single family detached homes), ranging in price from $1,800,000 to $98,500,000, a slight drop from last month (71). This is a supply of 5.5 months for detached single family homes at the current rate of sales (based on a 3-month period), up from 4.9 months in September. At this writing there are 2 condo and townhouse listings, a supply of 10 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 October dropped to 18 from 22 last month. The number of homes going pending also decreased by 4 to 7 (excluding homes that closed escrow in October).
If you would like more detailed 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 September 2022
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