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 17, 2010…
Below is a snapshot of this week’s activity with Rancho Santa Fe Homes For Sale:
Average List Price $3,947,558 …..Trend is up
Asking Price/SqFt. $668
Least Expensive Listing $465,000
Most Expensive Listing $29,950,000
Average Days on Market 144 …..Trend is level
Total Inventory 320 …..Trend is down
The Bottom Line – Our Rancho Santa Fe real estate market remains in a bit of a “coasting mode” as activity is down slightly from the summer months but prices remain stable. One encouraging trend recently has been the increase in activity with the high end Rancho Santa Fe luxury homes priced above $7 million. Buyers still appear to be in a wait and see mindset, though considering the low current mortgage rates and good inventory now is an opportune time to buy. We continue to keep a close eye on the local jobs market for San Diego as this will be a leading factor in the local Rancho Santa Fe and Del Mar real estate markets. Private sector hiring has been improving for several months and this bodes well for the stability of Rancho Santa Fe homes prices and overall consumer confidence.
Rancho Santa Fe CA homes buyers continue to target newer construction communities like Santaluz homes, Verrazzano, Rancho Santa Fe The Bridges real estate and remodeled Fairbanks Ranch homes for sale. The Rancho Santa Fe real estate market had 5 homes go into escrow this past week, and 4 Rancho Santa Fe homes that sold, 1 of which was a short sale. Distressed Rancho Santa Fe bank owned REO sales are still attractive with value opportunities for buyers but are still not dominating the high end market as the perception might be.
Now continues to be a unique buying opportunity for investors and move-up buyers in Rancho Santa Fe. To find the next great real estate value call the Dalzell Group, Rancho Santa Fe real estate agents, at (858) 755-7740 for a private consultation.
