What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Home Sales for June 2023
It’s essential for buyers and sellers in Rancho Santa Fe to 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 in San Diego County on average. You’ll find 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 21 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 June 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 11 single family homes sold in June, compared to 25 in May. There were 3 condos and townhomes sold versus none last month.
- Sales prices ranged from $1,455,000 to $8,700,000
- The average sales price of the single family homes was $4,885,636, 12% lower than the average sales price in May. The average sale price of the condos and townhomes was $1,785,000.
- The single family homes were on the market for an average of 59 days, with 2 selling in 1 week or less. Marketing time averaged 26 days for the condos and townhomes.
- The median sales price for single family homes was $4,500,000, up 7% from last month. The median price of the condos and townhomes was $1,850,000.
- On average, single family homes sold for 92% of the original list price. 2 homes sold for the asking price or more. The condos and townhomes sold, on average, for 95% of asking price – 2 sold for list price.
- As of the end of June there was 1 home in the Rancho Santa Fe housing market with an Active Under Contract status, compared to 2 last month.
At the end of June there were 85 Rancho Santa Fe homes for sale (80 are single family detached homes), ranging in price from $1,325,000 to $98,500,000, compared to 69 last month. This is a supply of 4.5 months for detached single family homes at the current rate of sales (based on a 3-month period), up from 3.2 months in May. At the time this report was written there were 5 condo and townhouse listings, a supply of 1.7 months at the current rate of sales.
The high end market continues to change in Rancho Santa Fe, and remains a sellers’ market for single family homes, luxury properties and estates. Rancho Santa Fe is a very strong seller’s market for buyers of condos, townhomes and duplexes.
32 Rancho Santa Fe homes came on the market in June compared to 28 last month. The number of homes going pending increased slightly from 15 to 16 (excluding homes that closed escrow in June).
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 directly or by text at (760) 840-1360.
I am happy to discuss your particular housing needs, lifestyle and budget, and help develop a strategy for you 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 market and equity analysis. Then we’ll 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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What’s my Rancho Santa Fe Home Worth? Homes for Sale for May 2023
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