In 2020 and 2021, Rancho Santa Fe saw impressive growth in average property values, jumping from around $7-8M to ~$14M. Since then, prices remained steady over the past few years. Since the peak of 2021, the market moved sideways, and 2024 clocks in at $14M, comparable with the previous year.
Highlights
Compared to pre-pandemic years, Rancho Santa Fe retains its elevated valuations
Average sales prices are $14M in 2024, comparable to previous years
Rancho Santa Fe properties average 187 DOM, significantly less than the US average
Steady prices in an active market
Although a steady market sounds somewhat unremarkable, this is great news in the broader context of Southern California. Where adjacent markets saw prices drop 23% compared to 2022, Rancho Santa Fe is holding steady.
Interestingly, Rancho Santa Fe properties sell significantly faster than the US or Southern California averages, with an average of 187 Days On Market (DOM) in 2024, continuing a 10-year downward trend which signifies appropriately priced listings, on average. Homeowners looking to sell their property can expect to transact quickly and sell at a final sales price as high as 88% of original listing prices. Across all metrics, Rancho Santa Fe is one of the strongest-performing markets in 2024 in Southern California.
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