What Happened in the Escondido Real Estate Market in January 2012?

 

Escondido Homes for Sale - Homes for Sale in Escondido CA

 

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 January 2011 there were 101 homes sold in the Escondido real estate market, down 34% from December. Sales dropped fairly significantly as we have seen in other communities; average sale prices also decline but modestly. Buyers were able to negotiate, on average, about 4% off sales price.

 

Here’s the breakdown of overall activity.

 

 

TOTAL

DETACHED

ATTACHED

# Sold

101 (down 34%)

84 (down 35%)

17 (down 29%)

Average $

$317,138 (down 5%)

$354,475 (down 4%)

$132,647 (down 1%)

Days on Market

98

107

53

Sale Price/List Price

96%

96%

96%

 

There were 236 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 January 2011 there were 657 Escondido homes for sale, about 6% more homes than in December, in contrast to the drop in inventory we saw for many communities in January. This represents an inventory of 4.1 months for attached homes (up from 3.7 months in December) and 4.8 months for detached homes (up from 4.2 months in December), based on the current rate of sales over the last 6 months.  Thus the market remains tight for buyers but loosened up a bit.

 

READ MORE:   How Important is Inventory when Buying or Selling? Very!!

 

In January 242 homes came on the market, a whopping 90% increase from December…good news for Escondido home buyers following 3 months of declining inventory. The number of homes going pending (132) also increased, by 32%, from December pendings (100), a good sign for the Escondido real estate market.

 

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 – What Happened in the Escondido Real Estate Market in November 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

 

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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com

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This post has been included in California Real Estate News San Diego County, CA Real Estate News Escondido, CA Real Estate News
Post is included in group: CALIFORNIA REAL ESTATE
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3 Comments on Escondido Homes for Sale - What Happened in the Escondido Real Estate Market in January 2012?

FEB
12
2012
1,356,628 Points 242 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Jeff, that is a lot of house for buyers to choose from.  Around here Realtors are starting to say that our inventory is starting to go down so less to choose from.
8:57pm • #1
985,940 Points 49 Featured Posts Outside Blog Called Shot Master

Jeff - That's fantastic sales only declined a tad even though sales were down compared to December.  While I'm not in your market I'm confident sales will be increasing in the upcoming months.
9:58pm • #2
758,607 Points 105 Featured Posts Outside Blog Called Shot Master

Jeff, you always provide such good market information for Escondido CA real estate. It's easy to see why a buyer or seller should pick up the phone to call you.
10:21pm • #3


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