Between 2020 and 2021, real estate prices across the country skyrocketed. This happened at a time when interest rates were dropping, plunging the market into a very precarious situation. Homes stayed longer on the market and attracted very few buyers, forcing nationwide prices to fall. In Santa Fe, however, things were different. The luxury home real estate market remained vibrant and continues to draw investors and homeowners from across the globe. Here is a closer look at why.
Rancho Santa Fe Real Estate
Rancho Santa Fe real estate is an active market, with the average single-family home selling for a median price of $4.95 million in 2023. This represents a 23.8 percent increase from 2022, indicating that the market is doing well. Moreover, luxury homes in the area are often listed for prices ranging between $10 and $20 million. The implication is that the Rancho Santa Fe real estate market continues to attract buyers at high prices, despite the rising inflation rates.
Luxury Homes in Rancho Santa Fe
Rancho Santa Fe is home to some of the most luxurious properties in the state. The homes are located in gated communities surrounded by breathtaking views of the mountains and waves, and beautiful terrain. Usually, the homes are very large and rival equivalent property sizes in similar markets.
For instance, $6 million in New York City may buy you a 3-bedroom apartment with three baths in an affluent neighborhood. And while this is impressive, the same amount could help you snag a 5-bedroom estate in Rancho Santa Fe with 6 baths – in an equally prestigious neighborhood.
Rancho Santa Fe homes are also airy and open and feature plenty of windows to allow in natural light. The indoors and outdoors also meld perfectly, with many amenities designed for outdoor living, such as outdoor kitchens, outdoor bar areas, fire pits, and covered pergolas.
The prominent styles in this area are ranch, Mediterranean, and traditional Spanish. The Art Jury must approve all house designs in Rancho Santa Fe to ensure they integrate harmoniously with the environment and don’t impede the privacy needs of the close-by properties.
Living in Rancho Santa Fe
The styles of Santa Fe’s luxury homes create a rural feel that combines perfectly with refined living. Residents are very careful to maintain this ambiance and are guided by specific guidelines set out in the Protective Covenant. A primary goal of these rules is to ensure privacy.
Many properties in Santa Fe are capped at a two-acre allotment so that homes have sufficient space between them. This helps create an air of seclusion around Santa Fe luxury homes. Moreover, there are no sidewalks, mail delivery, or street lights, so residents always feel like they are in the country.
In line with the privacy and exclusivity standards, the 26 miles of equestrian and hiking trails in Rancho Santa Fe are only open to residents.
Are You Ready to Buy Your Rancho Santa Fe Home?
Living in Rancho Santa Fe can be a dream come true if you crave the privacy, seclusion, and rural feel of a luxurious neighborhood. The area is one of California’s most exclusive communities, and you can join it by purchasing a home there. Of course, you will need the help of an experienced real estate attorney familiar with the Santa Fe real estate market and community. K. Ann Brizolis is one such agent who will avail insider access to this highly private town – which rarely lists homes for sale publicly – so you can get your dream home. Call today to get started.