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Rancho Santa Fe Real Estate: 2012 January-April Performance Summary

Rancho Santa Fe Real Estate: 2013 Summary

By linda sansone on Tuesday, February 11, 2014 12:04 PM
Rancho Santa Fe real estate (defined for the purpose of this analysis as all attached and detached residential properties listed with the San Diego Multiple Listing Service for the 92067 and 92091 zip codes) continues to appreciate. Overall median sold price rose from $2,090,750 in 2012 to $2,147,850 in 2013 while annual sales rose 15.6%, from 262 properties to 303 properties, respectively.


Rancho Santa Fe real estate (defined for the purpose of this analysis as all attached and detached residential properties listed with the San Diego Multiple Listing Service for the 92067 and 92091 zip codes) continues to appreciate. Overall median sold price rose from $2,090,750 in 2012 to $2,147,850 in 2013 while annual sales rose 15.6%, from 262 properties to 303 properties, respectively.
Average marketing time also declined year-over-year from 270 days to 192 days, almost a 30% decline.
All of this occurred under more volatile 2013 inventory levels than those of 2012.

Original Listing Price: less than $3 million

This submarket of Rancho Santa Fe real estate had the largest median sold price appreciation. 2013 median sold price was $1,775,000, 6.0% more than the 2012. Helping to support this price appreciation was a 6.5% declining inventory with sales increasing 14.8%. There appears to be little slowing demand over supply in this price segment.

Original Listing Price: $3 million - $5 million

This market had an outstanding 2013. The number of properties sold in this submarket for 2013 was 51.0% more than 2012. 51 properties were sold in 2012 while 77 properties in 2013. Not only did 51% more properties sell in 2013, but they also sold 21.3% faster on average. Better yet, they also created a 4.2% higher median sold price than that of 2012. Median sold price went from $3,000,000 in 2012 to $3,125,000 in 2013.

Original Listing Price: $5 million or more

When assessing this submarket’s 2012-2013 performance, everything looks positive except its 41.4% sales decline. The number of properties sold in 2013 dropped to 17 from 29 properties in 2012.
While this was a large relative decline in sales, the decline was to a prior year level. 2011 sales were 16 properties; 2010 were 19; 2009 were 19, 2008 were 14. It appears that 2013 simply failed to continue the crest of 2012.
However, the rest of this submarket continues unshaken. In 2013, median sold price climbed 4.8% to $4,875,000 from $4,650,000 in 2012. Average marketing time also declined 30.5% from 596 days in 2012 to 414 days in 2013. The consistent, steady pace of improvement in this submarket should not be understated.



Author
linda sansone

Blog for the statistical report for the year 2013