Rancho Santa Fe Real Estate Market Update January 2014


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Rancho Santa Fe Real Estate Market Data

For January 2014

Get the latest real estate market information on Rancho Santa Fe Real Estate. Find out how many current listings there currently are in the desired Rancho Santa Fe this easterly neighborhood of North County San Diego, California. Find out if prices are increasing or decreasing and find out what homes are selling for right now. The real estate market data is analyzed from the San Diego SANDICOR MLS and presented by REALTOR and Broker Michael Gaddis. To get more information or view one of the available Rancho Santa Fe homes for sale, call 760.487.8266 or email contact@MichaelGaddis.com.

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RANCHO SANTA FE REAL ESTATE MARKET UPDATE VIDEO TRANSCRIPT

**This transcript is auto generated by YouTube, pardon any errors, it’s just a poor machine.

Hi I’m Michael Gaddis your local Rancho Santa Fe real estate expert, and this is the January  2014 Rancho Santa Fe market conditions report. What I basically do is basically pull a bunch of data from the MLS and gonna go through with you to give you an idea kinda what the status is the real estate market is in your area. In this case we’re talking about Rancho Santa Fe and I pulled the information going to talk to you about from the SANDICOR MLS. I pulled the active, contingent, pending and sold listings would be sold listings occurring from December 1st last year to January 17 this year and kinda a numbers guy, so I enjoy kinda going to enter numbers and kinda looking at everything from a raw numbers perspective. Because it kinda gives me an idea what what the objective a real estate situation is in Rancho Santa Fe. So currently in Rancho Santa Fe, there are 141 active listings. The average square foot the active listings is seven thousand  280 square feet with an average list price five million 357,000 average list price per square foot is 756 dollars a square foot. The average days on market is a 166 days. That’s a fairly large number but considering the dollar amount the list price: the average list price and in the fact that lending is getting even more difficult, so the buyer pool is down a little bit. It’s not that unusual. There are currently two contingent listings on the market. Contingent listings typically refer to you a listing that requires some sort of your lender court approval. They usually for short sales and we categorize them discontinued because they’re not necessarily fully approved in escrow yet as a pending listing would be. So they can to go to an interim category which is called contention. There are two of those. The average square foot those is 8700 86 square feet the average list price for the continued listing just two million  422,000  the average list price per square foot is 278 dollars a square foot which is really really low. The average days on market for these two hundred ninety days and now I will say for the record as far as the active  a listings are concerned the price per square foot is slightly skewed by the currently listed hi and property. There’s a property is currently listed to 21,000 square-foot home  the list price is $40 million dollars the average price per square foot optical properties 13,600 95’s  dollars per square but so that number is somewhat skewing the numbers a little bit and I’m sure there’s a few others like that but a deaths probably artificially raising that list price per square foot up to senator 56 stars. But we’ll take a look at the sold listings and that will give us a better indication of what actually is selling which is the most important number. So currently there are 20 pending listings in Rancho Santa Fe and the average pending listing is 5500 29 square feet. It is listed at 2.8 million dollars or so in the average list price per square foot. For those pending listings is 530 dollars  a square foot with an average days on market up to 110 dollars I tune in 10 days so you can see that the houses that are pending were on the market for a while by the nature I mean at least six months. That’s typically tends to be kinda where it’s coming in and price per square foot coming in around 530 which is lower than what the listing. I mean the active listings are but significantly higher than what the contingent listings are, but here’s the important data set the important data set is what is sold. So let’s go through that the average their artwork there have been 26 home sold in Rancho Santa Fe from December  first to 1000 and 13 and chill  January 17 to 2014  and the average price per square I meant sorry the average square foot those homes at five thousand seven hundred sixty nine square. But the average list price for those properties as 2.98 for which is almost three million dollars. The average list price per square foot is 521 dollar square, but now here’s the important data the average sold price of these properties  is to points 69 so almost 2.7. So in the average sold price per square foot is 473 dollars a square foot. So you can see that that particular number is  kept probably gives you a better  reflection up where the current price per square foot is. Because it doesn’t matter necessarily what you listed for matters what you sell it for. So until a property sells  the dad is nice to know is just not overly relevant so as far as the sold price per square foot concerns about 473 based on the data here now. Of course you know nap just so you know the average days on market for those sold  listings I 111 which is you know a lot of those were probably market in a little bit towards the end of summer and fall when it was still a little bit hotter market than it is now versus the pending listings which have a average days on market 210 which is on the two hundred days more almost three months more. So on dark sometimes people like to know with the most expensive home that sold in their area was. In this case the most expensive house sold in Rancho Santa Fe from December 1st Feb 2013 to January 17 2014 was $71.99 Rancho Las team a dry and that one sold was a 80221 square foot home in. It’s sold for 4.8 million on January 10 so that is the most expensive listing that was sold during the time period. Again my name is Michael Gaddis. If you have any more questions or comments or would like to talk to me about anything at all, please feel free to do so. You can give me a call. The area code is 760-692-5950 760-692-5950 or you can visit me on my website at WWW.Michael.Gaddis.com. Yhank you so much and I look forward to meeting you in the future.

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