Is The Covenant of Rancho Santa Fe, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, The Covenant of Rancho Santa Fe was a Seller's Market.
Key Takeaway
The Covenant of Rancho Santa Fe is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in The Covenant of Rancho Santa Fe, CA
How much do homes in The Covenant of Rancho Santa Fe, CA cost?
Median Sold Price
$4,647,500
$1,048/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in The Covenant of Rancho Santa Fe have sold for 3.2% less than they did a year ago.
Summary: The median home sold price in The Covenant of Rancho Santa Fe was $4,647,500 in April 2024, down 3.2% from last year, and the median price per square foot was $1,048.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $2.6M | N/A |
| 2 Bedrooms | $2.1M | $1.7M | -19.1% |
| 3 Bedrooms | $3.0M | $3.7M | +21.9% |
| 4 Bedrooms | $3.8M | $4.2M | +9.1% |
| 5+ Bedrooms | $6.3M | $6.3M | -0.4% |
Summary: The Covenant of Rancho Santa Fe housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 19.1%, 3 bedroom homes increased by 21.9%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 0.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Fairbanks Ranch Country Club | $2.4M | $2.7M | +14.2% |
| Fairbanks Ranch | $3.7M | $4.1M | +10.0% |
| Rancho Santa Fe | $4.0M | $4.2M | +6.7% |
| Morgan Run Resort | $1.5M | $1.5M | 0.0% |
| The Covenant of Rancho Santa Fe | $4.8M | $4.6M | -3.2% |
Housing Supply in The Covenant of Rancho Santa Fe, CA
How many homes are available in The Covenant of Rancho Santa Fe, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 47 | 62 | +31.9% |
Summary: The The Covenant of Rancho Santa Fe real estate market had 62 homes for sale in April 2024, a 31.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 4 | 10 | +150.0% |
| 4 Bedrooms | 7 | 11 | +57.1% |
| 5+ Bedrooms | 34 | 39 | +14.7% |
Summary: The The Covenant of Rancho Santa Fe housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 150%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes increased by 14.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in The Covenant of Rancho Santa Fe, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in The Covenant of Rancho Santa Fe in April 2024, the same as the previous month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for The Covenant of Rancho Santa Fe, CA
How long does it take to sell a home in The Covenant of Rancho Santa Fe, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 42 Days | 14 Days | -66.8% |
Summary: Homes in The Covenant of Rancho Santa Fe had an average of 14 days on market in Apr 2024, down by 66.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in The Covenant of Rancho Santa Fe are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in The Covenant of Rancho Santa Fe; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.