Buyers Are Eager for Luxury Rancho Santa Fe Homes

The luxury real estate market had an incredible year in 2020 despite (or perhaps even because of) the pandemic. This momentum has continued into 2021. Buyers of upmarket homes have flooded the market looking for exceptional homes, including right here in Rancho Santa Fe. But the market has not been able to keep up with such strong demand. Inventory in the luxury market has been tight even as buyers are eager to find a Rancho Santa Fe property to call home. Now is a great time to sell, and this is what you can expect if you do put your home on the market.

There’s less competition among sellers

Right now is an excellent time to list if you don’t want to face serious competition. Inventory (the number of homes on the market) remains low as sellers haven’t been as eager to rejoin the market as buyers have. With fewer homes on the market and more buyers than usual, sellers are in an enviable position. We’re in a strong seller’s market, which is an ideal time to sell your home.

Sales prices continue to increase

In addition to facing less competition, sellers can expect to see home prices increase. Across the nation, many luxury sellers have sold their homes for prices that would have been inconceivable just a year or two ago. Some properties may even have bidding wars, where multiple buyers are competing to purchase the same home. But there are some things to keep in mind when it comes to pricing your home. While many buyers are willing to pay more for a luxury home to beat out the competition, they can still be price sensitive. Pricing your home appropriately is still essential so that your home doesn’t sit on the market for too long. Are you curious about what your Rancho Santa Fe home may be worth? Then visit our website for a home valuation. Simply supply us with a few key details and get a comprehensive report in under a minute. There’s no obligation and the report is free.

The market could shift in the second half of the year

While experts do not expect to see a sudden change in the luxury real estate market in the coming year, things could shift. As the pandemic eases and prices increase, more sellers will feel comfortable entering or re-entering the market. More homeowners will be enticed by the prospect of bidding wars or closing quickly. If you want to enter the market in as strong a position as possible, then now is the time to do it. As the year goes on and more people are vaccinated, the market will likely become more balanced.

Contact the Lucy Kelts Collection today

Now is the perfect time to sell your luxury Rancho Santa Fe home. If you want to work with an expert team with years of experience in the RSF market, then contact the Lucy Kelts Collection today at 858-775-8843 or [email protected]. We are ready to sit down with you personally to discuss all your real estate needs.

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