What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Home Sales for March 2024
Buyers and sellers in Rancho Santa Fe need 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 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 compiled there were 27 homes listed at over $10,000,000.
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Rancho Santa Fe - Luxury Home Buyer's Paradise in San Diego
Here’s what happened in the Rancho Santa Fe housing market in March 2024 based on data in the MLS (private sales are not included). The information is believed reliable when this report was written but is not guaranteed.
- There were 14 single family homes sold in March, compared to 11 in February. 1 townhome sold (1 condo sold last month).
- Sales prices ranged from $1,700,000 to $10,500,000.
- The average sales price of the single family homes was $6,078,428, 48% more than the average sales price in February (no doubt due, in part, to the sale of 6 homes over $7M that raised the average). The 1 townhome sale was $1,700,000.
- 11 of the transactions (73%) were cash buyers.
- The single family homes were on the market for an average of 82 days, with 3 selling in less than 7 days. The townhome sold in 2 days.
- The median sales price for single family homes was $5,547,500, up 66% from last month.
- On average, single family homes sold for 94% of the original list price. The condo sold for $50K more than asking price.
- As of the end of March there were 3 homes in the Rancho Santa Fe housing market with an Active Under Contract status, the same as last month.
At the end of March there were 88 Rancho Santa Fe homes for sale (85 are single family detached homes), ranging in price from $1,075,000 to $98,500,000, up from 74 last month. This is a supply of 6.5 months for detached single family homes at the current rate of sales (based on a 3-month period), the same as last month. At the time this report was written there were 3 condo listings, a supply of 1.1 months at the current rate of sales, up from 26 days last month.
The high end market continues to shift in Rancho Santa Fe and is a balanced market for single family homes, luxury properties and estates. In contrast, Rancho Santa Fe continues to be a very strong seller’s market for buyers of condos, townhomes and duplexes.
33 Rancho Santa Fe homes came on the market in March compared to 22 last month. The number of homes going pending also increased from 11 to 14 (excluding homes that closed escrow in March).
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 when the time is right.
If you are considering selling your Rancho Santa Fe home let’s discuss your plans and timing. I’ll also provide a market and equity analysis for your home. Then we’ll develop a plan to get your home sold, for the best price, terms, and conditions, 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 February 2024
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