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

 

RAncho Santa Fe Country ClubBuyers 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.

 

LEARN MORE ABOUT RANCHO SANTA FE: 

 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.

 

Whispering Palms homes in Rancho Santa Fe, CA

 

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!

 

SEARCH RANCHO SANTA FE HOMES FOR SALE

 

READ MORE:

What’s my Rancho Santa Fe Home Worth? Homes for Sale for February 2024

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Loved your post and the short answer is it is worth a lot more than 10 years ago:)Endre

Apr 13, 2024 11:07 PM
Jeff Dowler, CRS

So true Endre Barath, Jr. 

Thanks for stopping by and for the kind words.

Jeff

Apr 14, 2024 10:09 AM
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good morning Jeff. Must say the numbers are staggering for this midwest guy but your reports are providing an understanding of California Dreaming. Thanks. Enjoy your day.

Apr 14, 2024 05:48 AM
Jeff Dowler, CRS

No doubt they are pretty staggering for a number of people Wayne Martin 

Thank you! Enjoy what's left of your weekend!

Jeff

Apr 14, 2024 10:13 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

A significant number of new listings in March, and even though the values are high the sales are still brisk.

Apr 14, 2024 09:22 AM
Jeff Dowler, CRS

I'd say the Spring market is here in Rancho Santa Fe Ed Silva, 203-206-0754 .

Jeff

Apr 14, 2024 10:15 AM