For current MLS data on active, pending and closed Covenant properties please see the tables below.
Rancho Santa Fe Snapshot – In keeping with the rest of the San Diego luxury home market, Rancho Santa Fe homes for sale in 2010 continue to outpace the sales activity for the first half of 2009. Through June 25th of this year there have been 103 Rancho Santa Fe homes sold as opposed to just 60 sales in the same time period last year, a 72% increase! On a price/square foot basis Rancho Santa Fe homes have seen a 10% drop as buyers have focused on distressed and lower priced Rancho Santa Fe properties. Market times have increased 21%, making it all the more important to carefully choose Rancho Santa Fe realtors who have a dynamic marketing plan for today’s changing market.
Rancho Santa Fe Covenant Homes – Sales activity for Rancho Santa Fe Covenant homes in the first half of 2010 has been noticeably stronger than the beginning of 2009, with 33 sales to date vs. 23 a year ago, representing a 43% increase. As we’ve seen in other San Diego real estate submarkets the average buyer is targeting a lower price point with 5 REO/foreclosure sales so far and another 5 Rancho Santa Fe short sales sold or in escrow. While not a significant portion of the sales, these distressed properties have pulled down the average price about 13% over last year. The average time on the market remains just under 5 months and this is not likely to decrease as jumbo financing remains tight. Fortunately there remains a fair number of Rancho Santa Fe home buyers that are in cash positions to take advantage of unique buying opportunities for Rancho Santa Fe luxury estates.
As activity traditionally slows in the second half of the year, it becomes vitally important to select Rancho Santa Fe realtors who know how to correct price and market your Rancho Santa Fe Covenant homes, so call the Dalzell Group at (858) 755-7740 for an analysis of your home’s value and to find out the details about our customized property marketing plans.
