What Happened in the Escondido Real Estate Market in December 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 so you can 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 December 2011 there were 154 homes sold in the Escondido real estate market, up 9% from November. Sales were up as were average prices for detached homes, and buyers negotiated a bit more on sales price, on average, than they did in November, about 3 – 4%.
Here’s the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold |
154 (up 9%) |
130 (up 7%) |
24 (up 20%) |
|
Average $ |
$332,378 (up 7%) |
$369,645 (up 9%) |
$133,516 (down 4%) |
|
Days on Market |
81 |
77 |
101 |
|
Sale Price/List Price |
96% |
96% |
97% |
There were 203 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 December 2011 there were 618 Escondido homes for sale, about 13% fewer homes than in November, the 5th month of decline and a fairly significant one. This represents an inventory of 3.7 months for attached homes (down from 4.9 months in November) and 4.2 months for detached homes (down from 4.8 months in November), based on the current rate of sales over the last 6 months. Thus the market remains tight for buyers and in some areas seems to favor sellers.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In December 127 homes came on the market, 7% fewer newly listed homes than in November, the 3rd month of decline; the number of homes going pending (100) also decreased 15% from November pendings (118).
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.
SEARCH FOR ESCONDIDO HOMES FOR SALE
READ MORE:
Escondido Homes for Sale – What Happened in the Escondido Real Estate Market in December 2011?
Escondido Homes for Sale | Escondido Real Estate Market Report for October 2011
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
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