Rancho Santa Fe Real Estate Market Trends August 2011

Rancho Santa Fe Graph | Rancho Santa Fe Real Estate Guide

Rancho Santa Fe Real Estate Update: 8/15/2011

Sales Activity: Over the past month, the total number of closed sales thus far in 2011 rose from 133 to 143, an increase of 10 closed sales. The number of homes in escrow as of August 15, 2011 increased to 39 compared to 36 a month ago. Of those, 13 are contingent sales with the majority being “Short Sales”. When factoring in the 10 properties which closed escrow since July 15, 2011, there were 13 new and contingent escrows reported as of August 15, 2011.

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Inventory levels: The number of homes listed for sale decreased from the previous month, down to 291 compared to 294 a month ago. The current listing inventory has risen slightly to just over a 16-month supply. While still the highest level of inventory when compared to other San Diego County luxury home communities, the pace of sales is consistent with last year.

The Silver Lining: With the number of sales increasing, we are continuing to move toward a more stabilized marketplace.. There continues to be a wide variety of homes that buyers can choose from. Sellers willing to become competitive with their pricing still have an opportunity to entice the right buyer and Buyers can take comfort that it remains a great time to buy luxury real estate.

Rancho Santa Fe Chart | Rancho Santa Fe Real Estate Guide

Mike Taylor | Community Contributor

Mike has had over 31 years of real estate and banking experience. Early on in his career, he spent gaining knowledge in the Savings and Loan industry where he successfully lead several institutions through the Savings and Loan crisis of the early 90′s. Real estate experience came earlier on in Mike’s career as he managed and supervised real estate loan matters as well as REO Sales. It wasn’t until 1997 that Mike made the switch and became one of the county’s most successful real estate agents. Mike has a unique perspective and overall knowledge of the industry by having spent more than 31 years in real estate sales and real estate banking.