Escondido Real Estate Market Report for August 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 August 2010 there were 162 homes sold in the Escondido real estate market, 9 more than last month. Here's the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold
|
162 (up 6%) |
126 (up 7%) |
36 (up 1) |
|
Average $
|
$338,713 (up 5%) |
$391,613 (up 4%) |
$153,564 (up 9%) |
|
Days on Market
|
68 |
74 |
47 |
|
Sale Price/List Price
|
98% |
98% |
99% |
There were 215 Escondido homes (28% 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 August 2010 there were 778 Escondido homes for sale, just 2 fewer than in July. This represents an inventory of 3.3 months for attached homes (the same as in July) and 4.8 months for detached homes (down from 5.1 in July), based on the current rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In August 250 homes (down just 1% from last month) came on the market, and 142 homes went pending, a decrease of 17% over July 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 Homes for Sale - Escondido Real Estate Market Report for July 2010
Escondido Homes for Sale - Escondido Real Estate Market Report for June 2010
Escondido Homes for Sale - Escondido Real Estate Market Report for May 2010
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
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