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What Happened in the Escondido Real Estate Market in January 2012?
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.
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.
101 (down 34%)
84 (down 35%)
17 (down 29%)
$317,138 (down 5%)
$354,475 (down 4%)
$132,647 (down 1%)
Days on Market
Sale Price/List Price
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.
In January 242 homescame 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.
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
DISCLAIMER: I must disclaim liability for any damages or losses, direct or indirect, that may result from use of, or reliance on, any information contained in this blog, or for the accuracy of comments or opinions expressed by visitors to my blog. The information contained in the articles is deemed reliable but is not guaranteed, and the opinions expressed in these articles are mine.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.