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2012-01-30 14:03:07
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 square footage sales price dropped 3.66%
Buyers enter the Covenant with mostly homes under 2 Million Sales Price, 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 in the Covenant?
Data and time will show.
If you are interested in homes for sale in the Covenant or in Rancho Santa Fe, visit our Website www.theindras.com.

Work with the Indras, a fresh approach to Real Estate, Luxury Home Market Specialists.

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

 
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