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.
December 11, 2009…
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 $4,197,051 …..Trend is down
Asking Price/SqFt. $695
Least Expensive Listing $489,000
Most Expensive Listing $29,900,000
Average Days on Market 173 …..Trend is up
Total Inventory 298 …..Trend is down
The Bottom Line – After a slow Thanksgiving week for Rancho Santa Fe real estate the market is still sluggish as we look to close out 2009. While there were just 3 Rancho Santa Fe homes for sale that opened escrow this past week it is interesting to note that 2 of them were priced above $3 million. To this point the majority of Rancho Santa Fe property for sale has been at the low end as move up buyer look for deals shile the bulk of homeowners sit tight and wait out this recessionary cycle. There has of late though been signs of the higher end segment of the Rancho Santa Fe luxury real estate market moving again.
The challenge for a sustained rebound for high end luxury homes in the Bridges, Covenant, Fairbanks Ranch, Rancho Santa Fe Farms, Del Mar Country Club and other prestigious communities is somewhat dependant on the super jumbo mortgage market becoming more liquid. While the luxury Rancho Santa Fe market has shown signs of improvement over the past month it has been almost exclusively from cash buyers taking advantage of once-in-a-lifetime value opportunities. 2010 promises to offer overall support to the San Diego luxury real estate market and this stability will increase the chances for improvements in the area of financing.
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.
