What’s the Value of My Rancho Santa Fe Home?
Rancho Santa Fe Home Sales for August 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 in general. The community offers 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 32 homes listed for more than $10,000,000, including 1 at $100,000,000.
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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 August 2024 based on information in the MLS (private sales are not included). The data are believed reliable when this report was written but not guaranteed.
- There were 10 single family homes sold in August, compared to 19 in July. 3 condos were sold (1 townhome and 1 condo sold last month).
- Sales prices ranged from $1,510,000 to $9,995,000.
- The average sales price of the single family homes was $4,796,000, down 19% from the average sales price in July. The 3 condo sales averaged $1,611,666, down 10% from last month.
- The single family detached homes were on the market for an average of 32 days, with 3 homes selling in 7 days or less.
- The median sales price for single family homes was $4,450,000, up 3% from last month. The median price for the 3 condo sales was $1,625,000.
- On average, single family homes sold for 96% of the original list price. 2 of these homes sold for asking price.
- As of the end of August 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 August there were 109 Rancho Santa Fe homes for sale (101 are single family detached homes), ranging in price from $1,685,000 to $100,000,000, up from 106 last month. This is a supply of 7 months for detached single family homes at the current rate of sales (based on a 3-month period), up from 5.7 months last month. At the time this report was written there were 4 condo and townhome listings, a supply of 1.5 months at the current rate of sales, down from 1.9 months last month.
The high end market continues to evolve in Rancho Santa Fe and has become a buyers market for single family homes, luxury properties and estates. Rancho Santa Fe remains a very strong seller’s market for buyers of condos, townhomes and duplexes with limited inventory.
32 Rancho Santa Fe homes came on the market in August compared to 34 last month. The number of homes going pending dropped by 1 to 11 (excluding homes that closed escrow in August).
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 via text at (760) 840-1360.
I am happy to discuss your personal housing needs, lifestyle and budget, and help you create 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 July 2024
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