Are we taking steps in the right direction?
The numbers in Rancho Santa Fe for October:
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17 homes sold in Rancho Santa Fe in Oct 2022 (see full list below)
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This is down from 32 in Oct 2021 and 62 in Oct 2020 – (last month we considered whether the numbers from 2020 & 2021 should be considered outliers or benchmarks)
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Our 2022 Oct sales totals are more in line with those from 2019 – 20 homes sold and 2018 - 25 homes sold
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The median home price is still increasing – up 21% at $4,700,000*
Positive inflation news sent Wall Street surging this week and mortgage rates fell sharply on the same reports. Steps in the right direction, but we are still on a ride that can go two steps forward and one step back.
One constant is the inherent value in real estate. In a recent survey of 2,000 U.S.-based high-net-worth consumers by CBRE - 46.7% are investing in property to diversify their portfolio, 46.1% are doing so for a long-term investment, and 45.3% as an inheritance for their children. Real estate remains a cornerstone to building wealth.
Keep reading to see the new monthly HOMEDEX* reports breaking down market numbers in 92067, 92091, 92014, and 92075. And don't miss my brand new listing in Senterra - a highly desired gated community in the Villages of Fairbanks!
