Rancho Santa Fe, San Diego, Real Estate Market Trends and Community Information, August 2006

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COMMUNITY INFORMATION

Rancho Santa Fe is situated in the northern inland part of San Diego County within the state of California. There are approximately 4,009 residents in this Zip Code (92067) and 1,398 households. The median age of residents is 46.21years.

TEMPERATURE

The temperature in Rancho Santa Fe is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 76°F. The coldest time of year occurs in January with average temperatures falling to 55°F.

HOME AND REAL ESTATE PRICES

The housing options in Rancho Santa Fe include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:

- One bedroom townhouse/condominium start in the mid $500,000s.
- Two bedroom townhouse/condominium start in the low $600,000s.
- Three bedroom townhouse/condominium start in the high $700,000s.
- Two bedroom single-family homes start in the mid $1,000,000s.
- Three bedroom single-family homes start in the mid $1,100,000s
- Four bedroom single-family homes start in the mid $1,400,000s

REAL ESTATE MARKET TRENDS

As with most products and services in the United States, price shifts in the real estate industry are subject to the forces of supply and demand. Whether it's a buyers market or a seller's market, it is useful to evaluate home sales data for the most recent month available (June 2006), compared against the same period in the previous year (June 2005).

The median price of single-family homes dropped from $3,297,500 in June 2005 to $2,580,000 in June 2006, which represents a 21.80% decline. Fewer homes sold in June 2006 (22 homes) than in June 2005 (26 homes). The average time to sell a home decreased from 26 days in June 2005 to 22 days in June 2006.

The source of the market trends data above is ReReport.com.

Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to understand enduring market trends.

http://www.sdhomedatabase.com