Escondido is an inland community, about 15 miles from the coast adjacent to San Marcos. Like its neighbors, San Marcos, Vista and Oceanside, Escondido has seen fairly significant shifts in the real estate market with a large number of short sales and foreclosures.
READ MORE: A Tour of Escondido - A Diverse Inland San Diego Community
As a buyer or seller in the Escondido real estate market, understanding recent trends and current market conditions is essential in order to make informed decisions; media reports focus on general market conditions and therefore will not provide an accurate picture of the local Escondido real estate market.
The following data are taken from the San Diego MLS (private sales are not included in these statistics, nor are multifamily properties or mobile/manufactured homes). The data are believed to be reliable but are not guaranteed.
In January 2010 111 homes sold in the Escondido real estate market, 38% fewer than in December. Here's the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold
|
111 (down 38%) |
82 (down 40%) |
29 (down 33%) |
|
Average $
|
$286,211 (up 16%) |
$339,234 (up 1%) |
$138,964 (up 18%) |
|
Days on Market
|
53 |
45 |
77 |
|
Sale Price/List Price
|
101% |
100% |
105% |
The volume of sales dropped from December, however prices rose fairly substantially for attached homes, and on average homes are selling at/above asking price. This is likely due to the number of short sales and REOs.
There were 254 Escondido homes (39% of all active properties) on the market with a Contingent status, i.e., short sale or REO homes that have offers being considered by lenders. These are included in the statistics below.
At the end of January 2010 there were 646 Escondido homes for sale, a boost in inventory of 4% over December. This represents an inventory of 2.7 months for attached homes (down from 2.9 months last month) and 3.4 months for detached homes (down from 3.6 months), based on the current rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In January 239 homes (up 37% over last month) came on the market, and 143 homes went pending, a drop of 15% from December pendings.
I am happy to provide you with more information about current real estate activity in the Escondido real estate market and answer any questions that you may have about current market conditions.
READ MORE: Escondido Real Estate - Escondido Real Estate Market Report for December 2009
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If I can provide more information about Escondido real estate and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2010 Jeff Dowler "The California Relocation Dude" Carlsbad Homes and Real Estate Tidbits
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