Your #1 source for Rancho Santa Fe CA homes for sale and market updates. We follow the trends of both existing Rancho Santa Fe homes for sale and recent Rancho Santa Fe real estate that enters into escrow. Our goal is to help provide you direction and analysis of the current conditions and future trends.
June 18, 2010…
Below is a snapshot of this week’s activity with Rancho Santa Fe Homes for Sale:
Rancho Santa Fe MLS Listings on the Market:
Average List Price $3,870,886 …..Trend is up
Asking Price/SqFt. $671
Least Expensive Listing $475,000
Most Expensive Listing $29,950,000
Average Days on Market 147 …..Trend is level
Total Inventory 307 …..Trend is level
The Bottom Line – It was another solid week for Rancho Santa Fe CA homes for sale this past week with 7 luxury homes going into escrow with list prices from the mid $1M range to almost $4M. Once again properties with Rancho Santa Fe golf course locations or view lots are commanding attention, and in particular Fairbanks Ranch homes, Santaluz homes and Rancho Santa Fe Covenant homes have once again been going into escrow with consistency. Rancho Santa Fe foreclosures and short sales are still a factor in the market but are not at levels that are significantly affecting prices or appraisal values. In the broader economy and in looking at an overall Rancho Santa Fe real estate market update, the recovery is showing mixed signals and we are not yet out of the woods with home valuations. The jumbo markets will need to keep loosening and jobs show steady improvement for sustained price appreciation to take hold.
Last week there were rumors about potentially good news for those waiting on banks to complete their approvals for short sales. Congress has now passed a bill extending the Federal deadline until September for homes already in escrow by May 31st. The bill still needs to be signed by the President. Finally, with instability in Europe the bond market continues to provide us with historically low interest rates (30-year fixed in the mid to high 4% range) so now is a GREAT time to refinance or make a purchase of homes in Rancho Santa Fe.
Now is a great time for those looking to buy property in Rancho Santa Fe – call the Dalzell Group today at (858) 755-7740 to begin your search.
