As a buyer or seller in the Rancho Santa Fe real estate market, having information about the current market conditions will enable you to make an informed decision regarding what to do with regard to buying or selling a Rancho Santa Fe home.
The Rancho Santa Fe real estate market is very localized, and the most expensive community, on average, in San Diego County. Knowing what is going on in the market with regard to inventory and sales is important for making a buying or selling decision. Finding comparables for determining price for either a listing or a purchase can sometimes be tricky since many high-end properties are unique.
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Here is a summary of the Rancho Santa Fe real estate market for January 2011 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed.
· Total sales for January declined from December, with 15 detached Rancho Santa Fe homes sold (down 17%); only 1 attached home sold in contrast to 3 last month.
· The average sales price of the detached homes sold was $2,929,928, up 40% from December’s average sales price (no doubt due to the sale of 2 homes between $4 and $4.5 million and 1 at $6 million).
· The attached home sold for $650K as compared to the average sales price of attached homes in December at $554,666, taking only 26 days to sell at 98% of list price
· Average marketing time for the detached homes was 261 days (compared to 151 last month).
· The detached homes sold, on average, for 92% of asking price. Buyers negotiated a fair amount off asking prices on their home purchases, averaging 8%.
As of the end of January there were 13 homes in the Rancho Santa Fe real estate market with a Contingent status (i.e., short sale and REO homes that had offers being reviewed), the same as last month, and these are included in the Active statistics below.
As of January 2011 there were 226 Ranch Santa Fe homes for sale (95% of these are detached), just 4 fewer than last month. This represents an inventory of 10.3 months for attached homes (down from 16.1 months in December), and 15.7 months for detached homes at the current rate of sales (based on a 6-month period), which is up from 10 months in December.
The number of Rancho Santa Fe homes coming on the market in January increased significantly to 34, up from 13 last month, with 13 homes going pending during the same period, about the same as last month (14).
READ MORE: How Important is Inventory when Buying or Selling? Very!!
Data are based on information provided by the MLS for homes that went under contract in the last couple of months. If you would like more details about the Rancho Santa Fe real estate market with regard to current activity as well as the specific areas such as Fairbanks Ranch and the Covenant, please let me know.
SEARCH FOR HOMES FOR SALE IN RANCHO SANTA FE CALIFORNIA
READ MORE:
Rancho Santa Fe Homes – What Happened in the Ranch Santa Fe Real Estate Market in December 2011?
Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Reports for October 2011
Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for September 2011
Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for August 2011
Rancho Santa Fe Homes for Sale | Rancho Santa Fe Real Estate Market Report for July 2011
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I write about my passions - the SoCal lifestyle in the Carlsbad area (art, restaurants, beaches), relocation, & Carlsbad real estate. Call/text me at 760-840-1360 if I can help you in any way!
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