Escondido Real Estate Market Report for June 2010
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 June 2010 there were 158 homes sold in the Escondido real estate market, substantially fewer than last month. Here's the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold
|
158 (down 20%) |
131 (down 16%) |
27 (down 34%) |
|
Average $
|
$338,274 (up 7%) |
$367,253 (up 3%) |
$138,528 (up 8%) |
|
Days on Market
|
79 |
85 |
54 |
|
Sale Price/List Price
|
99% |
98% |
102% (94-139%) |
Sales volume shifted downwards over the previous month overall, however average sales prices all increased over May numbers, which had increased overall from April.
There were 253 Escondido homes (33% 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 June 2010 there were 765 Escondido homes for sale, an uptick in inventory of 7% over May. This represents an inventory of 3.7 months for attached homes (up from 3.1 months last month) and 5.1 months for detached homes (up from 4.8 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 June 228 homes (4% more than last month) came on the market, and 144 homes went pending, an increase of 20% over May 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 April 2010
Escondido Real Estate - Escondido Real Estate Market Report for March 2010
Escondido Real Estate - Escondido Real Estate Market Report for February 2010
Escondido Real Estate - Escondido Real Estate Market Report for January 2010
Escondido Real Estate - Escondido Real Estate Market Report for December 2009
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