Local Market Stats & Where Centi-Millionaires are Buying (hintš„right here!)
There were 14 sales in Rancho Santa Fe (92067 & 92092) in February - see the full list and HOMEDEX sales reports below. The number of sales is down from 25 in 2022 but inventory remains exceptionally tight at 55 homes compared to 64 in 2022 and 134 in 2021. With so few homes for sale and the markets and interest rates in flux buyers and sellers are hesitating, keeping demand and supply suppressed.
In a new report San Diego was ranked #7 in the 10 most popular towns for American centi-millionaires (those with net worth over $100 million) to purchase second homes. The same report by Henley & Partners also ranked the main wealth creating industries, naming REAL ESTATE as the #3 wealth creator for those same centi-millionaires.
Rancho Santa Fe has always been a hub for both primary and secondary homes for this exclusive group thanks to the privacy, space, and lifestyle here. Not to mention the value in luxury compared to some of the other top zip codes. While homes are definitely selling, I had 5 closings in about 6 days last week, it will take more inventory to get back to a “normal” spring market.
If you find yourself hesitating to jump in and need to talk through different scenarios, call me! I can help you sift through the data and the headlines to see what is right for you and what is true in our local market.
Here are links to HomeDex Market Reports for 92067, 92091, 92075, and 92014.
I'm proud to be recognized by SDAR, the San Diego MLS, and the SDUT for Excellence in Real Estate with production levels of 40+ units or more than $50 million between January 2022 and December 2022. Platinum is the highest level awarded and I'm grateful for my clients and all the support of Pacific Sotheby's for another incredible year. š¾
