What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Home Sales for July 2023
It’s important that buyers and sellers in Rancho Santa Fe have current information about local market conditions in order to make educated 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 25 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 July 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 15 single family homes sold in July, compared to 11 in June. There were 2 condos and townhomes sold versus 3 last month.
- Sales prices ranged from $1,300,000 to $7,000,000
- The average sales price of the single family homes was $4,583,716, 6% lower than the average sales price in June. The average sale price of the condos and townhomes was $1,471,250 down 18% from last month.
- The single family homes were on the market for an average of 49 days, with 3 selling in 1 week or less.
- The median sales price for single family homes was $4,240,000, down 6% from last month. There is no median price for condos, townhomes and duplexes because only 2 homes sold
- On average, single family homes sold for 96% of the original list price. 2 homes sold for the asking price or more. The condos and townhomes sold, on average, for 92% of asking price.
- As of the end of July 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 July there were 90 Rancho Santa Fe homes for sale (86 are single family detached homes), ranging in price from $1,649,000 to $98,500,000, compared to 85 last month. This is a supply of 5.1 months for detached single family homes at the current rate of sales (based on a 3-month period), up from 4.5 months in June. At the time this report was written there were only 4 condo and townhouse listings, a supply of 2.4 months at the current rate of sales, up from 1.7 months.
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.
24 Rancho Santa Fe homes came on the market in July compared to 32 last month. The number of homes going pending decreased slightly from 16 to 14 (excluding homes that closed escrow in July).
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 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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READ MORE:
What’s my Rancho Santa Fe Home Worth? Homes for Sale for June 2023
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