November 11, 2013
The median list price in Rancho Santa Fe, CA 92067 is $3,297,000.
Inventory of Rancho Santa Fe homes for sale and days-on-market has basically remained unchanged and the Market Action Index (MAI) has been decreasing. The Rancho Santa Fe real estate market is not sending strong directional signals for the near-term outlook.
Rancho Santa Fe home sales have been exceeding new inventory for several weeks. Since this is a buyer’s market prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the Rancho Santa Fe real estate market moves into the seller’s zone and we are likely to see upward pressure on pricing.
REAL-TIME MARKET PROFILE
Median List Price $3,297,000
Asking Price per Square Foot $573
Average Days on Market 167
Percent of Properties with Price Decrease 34%
Median House Size 5,923 sq. ft.
Median Number of Bedrooms 5.0
Median Number of Baths 5.0
Market Action Index BUYER’S ADVANTAGE 25.5
We continue to see prices for Rancho Santa Fe real estate bounce around this plateau. Look for a persistent up-shift in the MAI before we see prices move from these levels.
The Market Action Index answers the question “how’s the market?” by measuring the current rate of Rancho Santa Fe home sales versus the amount of inventory. Index above 30 implies seller market conditions. Below 30 conditions favor the buyer.