San Diego real estate blog - Peter Toner

Had a recent enquiry about home prices in Rancho Santa Fe - here is what I told him:

“It’s true that there are some motivated sellers still out there – but the market in 92067 and 92091 is not dead by any means and seems to be holding up relatively well with 20 sales currently in escrow (12 of which occurred in January) and 21 closed sales since December 1^st (6 over $5mil). Interesting to note that some of these homes had been on the market for quite some time.  

Typical closed prices in the Ranch are between 5 and 10% less than asking price (with some exceptions for listings with over inflated asking prices) and this still seems to be the norm. Those with value range prices closed a little under the bottom of the range – except for two. Hope this gives you some added perspective to the picture …”

Written by Peter Toner.