Monday, January 30, 2012

Covenant Rancho Santa Fe Market Update 2012

Covenant Rancho Santa Fe Market Update 2012

Covenant, Rancho Santa Fe, Market Update 2012 / Comparing 2010 - 2011

SINGLE FAMILY HOMES
2010
2011
% +/-

Number of Sales
65
70
+7.7%

Lowest Sale
845,000
690,000
-18.35%

Highest Sale
8,500,000
8,000,000
-5.89%

Average List Price
3,291,198
2,748,489
-16.46%

Average Sales Price
2,881,745
2,458,358
-14.7%

Average Square Footage List Price
541.66
520.09
-3.99%

Average Square Footage Sales Price
484.18
466.97
-3.66%

Number of Sales 1M – 1.99M
28
33
+17.85%

Number of Sales 2M – 2.99M
12
18
+50%

Number of Sales 3M – 3.99M
5
5
+-0%

Number of Sales over 4M
17
11
-35.3%

Average days on Market
155
167
+7.74


An interesting year has passed in the Covenant, Rancho Santa Fe, luxury Real Estate in San Diego.
A total of 70 homes changed owners in 2011 that's 7.7% more than in 2010.
The least expensive single family home sold for 690,000 the most expensive for 8 Million Dollars.
The average list price and average sales price is down about 15% from 2010.
Also the average sqaure footage sales price dropped 3.66%
Buyers find their way into the highe end market with mostly homes under 2 Million, 33 Sales in 2011.
Homes over 4 Million USD are still selling slow in the Covenant, Sales down -35.3% in 2011.
Also homes stay slightly longer on the market, average days on market 5.5%.
Prices are still falling in the Covenant but homes are selling, buyers are in the market.
The lower end has already turned around, so how long will it take to finally see a price increase again?

If you are interested in homes for sale in the Covenant or in Rancho Santa Fe, visit our Website www.theindras.com.

Work with INDRA Group, a fresh approach to Real Estate and Luxury Home Market Specialists.

Oliver Indra, 760 805 9336 Melia Indra, 760 681 9960