Your #1 source for Rancho Santa Fe real estate market updates and luxury homes for sale. 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.
September 18, 2009…
So what has happened over the past week with Rancho Santa Fe Homes for Sale?
Rancho Santa Fe MLS Listings on the Market:
Average List Price $4,342,049 …..Trend is down
Asking Price/SqFt. $697
Least Expensive Listing $575,000
Most Expensive Listing $29,900,000
Average Days on Market 154 …..Trend is level
Total Inventory 356 …..Trend is level
The Bottom Line – Another slow week for Rancho Santa Fe homes for sale as the market goes through its summer-fall transition. There was just one new escrow this week but it is interesting that the Rancho Santa Fe home that sold was a high end luxury estate listed at $6,595,000 and it sold after just 4 months on the market. This Covenant home for sale still represented an excellent value and the buyer was attracted to its location close to Rancho Santa Fe schools and golf courses.
While the lack of activity is disconcerting the fact that high end San Diego luxury homes for sale are being bought is encouraging as the Rancho Santa Fe market works its way through a slow period. The Covenant Rancho Santa Fe has continued to attract the most attention along with Fairbanks Ranch homes and the newer construction areas of Cielo and The Crosby. News reports from the Fed Chairman stating that the US recession is coming to an end is good news for consumer confidence but there are still “red flags” with high unemployment and the existence of Rancho Santa Fe foreclosure and short sale properties. These are not widespread enough to be dragging down the market but nonetheless are to be closely monitored.
For investment opportunities in foreclosure properties in Rancho Santa Fe, San Diego and Southern California visit the Investment page at www.DalzellGroup.com.
