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 11, 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 $4,360,716 …..Trend is down
Asking Price/SqFt. $717
Least Expensive Listing $575,000
Most Expensive Listing $29,900,000
Average Days on Market 157 …..Trend is level
Total Inventory 356 …..Trend is level
The Bottom Line – First of all and most importantly, we remember today those that lost their lives in the September 11 attacks – you are never forgotten.
The Rancho Santa Fe real estate market once again this week stays locked in a plateau of activity with another 4 homes going into escrow, but after the end of summer several others have been taken off the market. The overall inventory dropped sharply this week after 19 Rancho Santa Fe homes for sale with an average list price of just over $5M came off the market. It again shows that the mid to high end luxury homes in Rancho Santa Fe are struggling in this market. That being said a Rancho Santa Fe Covenant home just went into escrow with a list price of $8,495,000. A closer look though shows that this property was reduced from $11,995,000 showing significant motivation by the seller.
Rancho Santa Fe continues to be driven by value buyers targeting homes for sale in The Covenant, Fairbanks Ranch, The Crosby and Santaluz real estate. As interest rates continue to be low we expect to see a pick up in activity leading up to the holiday season.
