By Janet Lawless Christ
Welcome to a New Year, and a revitalized local market on the rebound. Throughout San Diego, home prices are on the rise; and here in
are regaining value at an impressive rate. Looking back at market data from the past thirteen years, it is clear that Rancho Santa Fe is on the verge of a real estate renaissance. Not only that, a host of community developments, investments and campaigns are underway to further strengthen buyer and tourist appeal – making 2013 a golden year for local investors and sellers alike.
The numbers are in: 2012 was a good year
As of 2011, Rancho Santa Fe saw a total sales volume of $172,455,057 – a figure reflective of the nationwide post-recession slump. However, by 2012 that number jumped to $300,084,604, constituting a 9.89% boost in prices and ushering in the first sign of pre-recession sales volume in nearly five years. This is undeniably good news for residents and prospective buyers here in the Ranch. But the best part is, it’s only the tip of the proverbial iceberg.
Last year saw long-awaited improvements to the real estate market. But it also saw the initiation of various projects and plans throughout Rancho Santa Fe that promise to yield even greater dividends – both literal and otherwise – in the years to come. Here are some highlights:
- As noted in a past column, the Inn at Rancho Santa Fe is currently undergoing renovation at the hands of new owners JMI Realty – a project that brings with it much anticipation among locals as well as the travel and lifestyle-driven media, not to mention heightened value and vitality for the surrounding community.
- Local officials are working to position the Covenant as a destination community alongside the likes of Napa, Montecito and Sonoma in an effort to raise awareness among visitors and residents alike and encourage exploration and discovery of everything Rancho Santa Fe has to offer.
- Upcoming commercial projects and a proposed Farmer’s Market in the village have the potential to build community spirit and enrich the lives of residents.
- A lack of planned building projects leaves inventory low and buyer competition stiff, posing favorable conditions for homeowners looking to sell in the year ahead.
With so much to look forward to in the New Year, and all signs pointing towards a continuing upward trend in home prices, the future looks rosy for Rancho Santa Fe. Whether you are looking to buy or sell, invest or build your local business, prospects are bright and getting brighter. To learn more about
, discuss listings or go over plans to put hour home on the market, contact me,
, for a down-to-earth conversation about how to make the market work for you this year. Get in touch today: visit