WHERE’S THE RANCHO SANTA FE REAL ESTATE MARKET HEADED IN 2013?
Year over Year Comparisons in Rancho Santa Fe (92067 & 92091) – Single Family Detached
Year
# Sales
Median Sale $$
Highest Sale $$
Lowest Sale $$
2012
242
$2,153,125.00
$9,200,000.00
$599,000.00
2011
197
$1,950,000.00
$9,225,000.00
$690,000.00
2010
193
$2,009,400.00
$9,575,000.00
$725,000.00
2009
124
$2,287,500.00
$8,920,000.00
$670,000.00
2008
148
$2,750,000.00
$15,000,000.00
$720,000.00
2007
195
$2,730,000.00
$21,500,000.00
$925,000.00
2006
225
$2,778,000.00
$16,000,000.00
$850,000.00
2005
259
$2,825,000.00
$14,150,000.00
$875,000.00
2004
321
$2,350,000.00
$17,000,000.00
$755,000.00
2003
312
$1,799,500.00
$9,500,000.00
$692,000.00
I’ve compiled the chart above (from SANDICOR MLS data) for the last 10 years to give an idea of the current state of the real estate market in Rancho Santa Fe, and also provide some clues as to where we are headed for 2013.
Overall, 2012 was as a considerable rebound year. The total number of transactions completed was 242, a level not seen since 2005. The median home price rose 10.4% from the recent low realized in 2011. While a new 10 year low sale price was recorded at $599,000, the high sale price of $9,200,000 remained relatively consistent for the last 4 years.
So where are we headed for 2013? All indications are that this will be a very robust year for luxury real estate sales in Rancho Santa Fe. If I had to project, I would say the number of transactions will increase again this year. In addition, I feel we will begin to see some higher dollar sales occurring this year due to continually increasing buyer confidence. Most have now accepted that the market is rising from the real estate downturn. Another major factor that is positively influencing the market is the historically low interest rates. Real Estate is positioned as a very attractive investment since the yields are VERY low on domestic fixed income securities.
All signs point to 2013 being an excellent year for Rancho Santa Fe real estate for sellers. Values are on the rise, and there remains an abundance of buyers ready and waiting for their ideal property to hit the market. If you have considered putting your home on the market, the time is NOW….before the flood of inventory hits the market in the Spring.
Thinking of selling, but you would like to know what your home is worth?
I would like to provide you a detailed Home Value Report and Custom Marketing Plan for your home. The Home Value Report will contain my opinion of value/suggested list price, while the Custom Marketing Plan will outline the exact advertising system I would use that is tailored specifically to sell YOUR home. Please fill out the brief form below, and I will get to work on this right away.
