Escondido Homes for Sale – What Happened in the Escondido Real Estate Market for April 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.
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 April 2012 there were 212 homes sold in the Escondido real estate market, up 12% from March. Sales volume rose for both detached and attached homes; average sale prices also increased for attached home sales but declined for detached single family homes. Buyers were able to negotiate, on average, about 3- 4% off sales price.
Here’s the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold |
212 (up 12%) |
179 (up 16%) |
33 (up 32%) |
|
Average $ |
$333,437 (up 7%) |
$356,603 (down 8%) |
$207,775 (up 46%) |
|
Days on Market |
82 |
80 |
92 |
|
Sale Price/List Price |
97% |
97% |
96% |
There were 263 Escondido homes (45% 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 April 2012 there were 583 Escondido homes for sale, about 5% fewer homes on the market than at the end of March, the 3rd month of inventory decline. This represents an inventory of 2.1 months for attached homes (down from 3.8 months in March), the lowest in North San Diego County communities, and 3.7 months for detached homes (the same as in March), based on the current rate of sales over the last 6 months. Thus the market has gotten even tighter for buyers, and one might argue the Escondido real estate market is now one that favors sellers, especially those selling attached homes.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In April 248 homes came on the market, down 6% from new listings in March. The number of homes going pending (216) also decreased again, by 6%, from March pendings.
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 March 2012?
Escondido Homes for Sale – What Happened in the Escondido Real Estate Market in February 2012?
Escondido Homes for Sale – What Happened in the Escondido Real Estate Market in January 2012?
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