Escondido Real Estate Market Report for October 2011
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 October 2011 there were 132 homes sold in the Escondido real estate market, down 15% from September. Here’s the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold |
132 (down 15%) |
111 (down 3%) |
21 (up 17%) |
|
Average $ |
$300,012 (down 4%) |
$330,953 (down 2%) |
$136,497 (down 12%) |
|
Days on Market |
83 |
88 |
55 |
|
Sale Price/List Price |
97% |
97% |
98% |
There were 221 Escondido homes (29% 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 October 2011 there were 759 Escondido homes for sale, about 3% fewer homes than in September, the 3rd month of decline although small. This represents an inventory of 4.5 months for attached homes (up from 3.4 months in September) and 5.2 months for detached homes (down from 5.5 months in September), based on the current rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In October 198 homes came on the market, 4% fewer than newly listed homes in August; the number of homes going pending (132) increased 6% from September pendings (124).
I am happy to provide 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.
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READ MORE:
Escondido Homes for Sale | Escondido Real Estate Market Report for September 2011
Escondido Homes for Sale | Escondido Real Estate Market Report for August 2011
Escondido Homes for Sale | Escondido Real Estate Market Report for July 2011
Escondido Homes for Sale | Escondido Real Estate Market Report for June 2011
Escondido Homes for Sale | Escondido Real Estate Market Report for May 2011
Escondido Homes for Sale | Escondido Real Estate Market Report for April 2011
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