What’s My Rancho Santa Fe Home Worth? Market Report for January 2024

By
Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

What’s the Value of My Rancho Santa Fe Home?

Rancho Santa Fe Home Sales for January 2024

 

It’s important that buyers and sellers in Rancho Santa Fe have current information about local market conditions in order to make informed buying or selling decisions about Rancho Santa Fe homes for sale

 

The Rancho Santa Fe housing market is the most expensive in San Diego County in general. 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 were 20 homes listed at over $10,000,000.

 

LEARN MORE ABOUT RANCHO SANTA FE: 

 Rancho Santa Fe - Luxury Home Buyer's Paradise in San Diego

 

Here’s what took place in the Rancho Santa Fe housing market in January 2024 based on data in the MLS (private sales are not included). The information is believed to be reliable at the time this report was written but is not guaranteed.

 

  • There were 13 single family homes sold in January, compared to 9 in December. 5 condos and townhomes sold, versus 1 last month.
  • Sales prices ranged from $1,140,000 to $16,400,000.
  • The average sales price of the single family homes was $4,413,444, 13% higher than the average sales price in December. The average price of the condos and townhomes that sold was $1,667,000, compared to last month’s 1 condo sale at $1,230,000.
  • The single family homes were on the market for an average of 54 days, with 3 selling in 7 days or less. 2 of the condos sold in 3 days.
  • The median sales price for single family homes was $4,000,000, down 10% from last month. The median price for the condos and townhomes was $1,795,000.
  • On average, single family homes sold for 93% of the original list price. The condos and townhomes sold for an average of 97% of asking price – 3 of the 5 sold for the list price.
  • As of the end of January 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 January there were 67 Rancho Santa Fe homes for sale (66 are single family detached homes), ranging in price from $1,099,900 to $98,500,000, down from 73 last month. This is a supply of 5.8 months for detached single family homes at the current rate of sales (based on a 3-month period), up from 5.7 months in November. At the time this report was written there was only 1 condo listing, a 13-day supply at the current rate of sales.

 

Cielo homes in Rancho Santa Fe CA

 

The high end market continues to shift in Rancho Santa Fe and is becoming more of a balanced market for single family homes, luxury properties and estates. However, Rancho Santa Fe remains a very strong seller’s market for buyers of condos, townhomes and duplexes.

 

22 Rancho Santa Fe homes came on the market in January compared to 23 last month. The number of homes going pending also decreased from 14 to 11 (excluding homes that closed escrow in January).

 

If you would like more detailed information about the Rancho Santa Fe housing market regarding current activity, as well as for specific 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 personal housing needs, lifestyle 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 plans and timing. I’ll also provide you with a market and equity analysis for your home. 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!

 

SEARCH RANCHO SANTA FE HOMES FOR SALE

 

READ MORE:

What’s my Rancho Santa Fe Home Worth? Homes for Sale for December 2023

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (4)

Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Another high home market report that would have value for those that are looking at that price range.

Feb 12, 2024 12:13 PM
Jeff Dowler, CRS

Thanks Ed Silva, 203-206-0754 It's likely quite the eye opener for some.

Jeff

Feb 12, 2024 04:37 PM
Dennis Neal
RE/MAX, Big Bear - Big Bear Lake, CA
Your Home Sold in 21 Days or We Sell It For Free

Hi Jeff. Thanks for sharing your expertise with us! Have a wonderful week ahead!

Feb 12, 2024 12:21 PM
Jeff Dowler, CRS

Thank you Dennis Neal  You as well.

Jeff

Feb 12, 2024 04:38 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff loved the report but the photo made me smile clearly not taken in the last few days with all the rain:)Endre

Feb 12, 2024 09:50 PM
Jeff Dowler, CRS

Hi Endre Barath, Jr. 

We have actually had now 3 sunny days in a row here but there's more rain headed our way.

Jeff

Feb 13, 2024 04:43 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I think I have learned from your reports that Ranch Santa Fe is the most expensive area that you keep track of, is that correct?

Feb 13, 2024 07:25 AM
Jeff Dowler, CRS

Yes Brian England on average that's true. But close rivals include La Jolla and Del Mar, as well as Coronado Island downtown.

Jeff

Feb 13, 2024 04:53 PM