What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Home Sales for April 2023
It’s important that buyers and sellers in Rancho Santa Fe have current 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 this report was written there are 13 properties listed for more than $10,000,000, with 1 estate at $98,500,000 (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 April 2023 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 18 single family homes sold in April, compared to 20 in March. There were 5 condos and townhomes sold versus 2 condo sales last month.
- Sales prices ranged from $1,250,000 to $16,000,000
- The average sales price of the single family homes was $5,348,333, 20% higher than the average sales price in March. The condos and townhomes averaged $1,640,000, up 22% from March.
- The single family homes were on the market for an average of 27 days, with 6 selling in 1 week or less.
- The median sales price for single family homes was $3,990,000, down 7% from last month.
- On average, single family homes sold for 95% of the original list price. 4 homes sold for the asking price or more with 1 at 109%. One townhome sold for asking price.
- As of the end of April there was 1 home in the Rancho Santa Fe housing market with an Active Under Contract status, the same as last month.
At the end of April there were 69 Rancho Santa Fe homes for sale (63 are single family detached homes), ranging in price from $1,499,500 to $98,500,000, about the same as last month (68). This is a supply of 3.4 months for detached single family homes at the current rate of sales (based on a 3-month period), down from 3.8 months in March. At the time of this report there are 5 condo and townhouse listings, a supply of 1.9 months at the current rate of sales.
The high end market continues to shift in Rancho Santa Fe, and remains a sellers’ market for single family homes, luxury properties and estates. There is a reasonable supply of condos and townhomes, and based on the last 3 months of sales (8 sales) is a strong sellers’ market.
25 Rancho Santa Fe homes came on the market in April compared to 35 last month. Similarly the number of homes going pending decreased from 21 to 16 (excluding homes that closed escrow in April).
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 particular housing needs, lifestyle and budget, and help develop a strategy to buy a new Rancho Santa Fe home.
If you are considering selling your Rancho Santa Fe home let’s discuss your specific plans and timing. I’ll also provide a free market and equity analysis. Then we can create a plan to get your home sold, for the best price, terms, and conditions, and in the time frame that works for you!
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READ MORE:
What’s my Rancho Santa Fe Home Worth? Homes for Sale for March 2023
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