What’s my Escondido Home Worth? Escondido Real Estate October 2016

By
Real Estate Agent with Solutions Real Estate CalBRE License #01490977

What’s the Value of my Escondido Home?

 

California Center for the Arts in EscondidoEscondido is an inland community, about 17 miles from the coast and just east of San Marcos.

 

Buyers and sellers in the Escondido housing market should understand recent trends and current market conditions in order to make informed decisions about buying and selling Escondido homes; media reports focus on general market conditions and do not provide an accurate picture of the local Escondido real estate market nor how it impacts buyers and sellers.

 

READ MORE:

 A Tour of Escondido – A Diverse Inland San Diego Community

 

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 at the time this report was written but are not guaranteed.

 

In October 2016 there were 168 homes sold in Escondido, an increase in sales volume by 8% from last month, a contrast to a number of other nearby communities. Average sale prices increased for detached homes but declined modestly for attached homes. Buyers were able to negotiate, on average, 4 - 7% off sales price; however, 25% of the homes sold for asking price or more. 14% of the transactions were cash, compared to 10% last month. Days on market increased slightly for both detached and attached homes.

 

Here’s the breakdown of overall activity.

 

TOTAL HOMES SOLD

168 (up 8%), 38 Days on Market, Ave. Sales Price $508,255 (up 5%), Ave. sale 96% of asking price,

Detached Homes Sold
142 (up 15%), 40 Days on Market, Ave. Sales Price $549,134 (up 3%), Ave. sale 96% of asking price

Attached Homes Sold
26 (down 19%), 31 Days on Market, Ave. Sales Price $284,007 (down 3%), Ave. sale 93% of asking price

 

Escondido luxury home for sale

 

The MEDIAN price of the detached homes sold was $508,500 (up 7%), with $300,000 (down 4%) for attached.

 

There were 31 Escondido homes (7% 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, 1 more than in September. These are included in the statistics below.

 

At the end of October there were 410 homes for sale in Escondido, a decrease of 7% from last month. This represents an inventory of 1.6 months for attached properties (down from 1.7 months last month), and 2.5 months for detached homes (down from 2.7 months last months), based on the current rate of sales over the last 6 months.  The market remains very competitive for buyers, and is a strong seller’s market based on inventory levels, especially for buyers of attached homes (condos, townhomes).

 

READ MORE:   

How Important is Inventory when Buying or Selling? Very!!

 

In October 190 homes came on the market, down 22% from last month. The number of homes going pending (153), excluding homes that closed escrow, also decreased, by 17%, from September 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:

What’s my Escondido Home Worth? Escondido Real Estate in September 2016

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Rainmaker
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Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Jeff, love the photos you used on this post. Increase in price for detached homes in Escondido is great news for sellers, those who've been thinking about selling should take advantage of the market and give you a call. Very detailed, informative market update.

Nov 15, 2016 01:41 AM #1
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Another wonderful report Jeff Dowler on Escondido . You are the agent to call to find out exactly what a home is worth in this fantastic area of southern Ca

Nov 15, 2016 01:53 AM #2
Rainmaker
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Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

So the home pictured in that last photo, the home for sale in Escondido, would that be about a half million? Or is that a multi-million dollar home? You can see I have no idea about how much homes are worth in Escondido.

Nov 15, 2016 02:02 AM #3
Rainmaker
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Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Good morning, Jeff -- a nice snapshot look at the Escondido real estate market. Lots of great details and some healthy inventory levels of homes available for sale too.   

Nov 15, 2016 02:04 AM #4
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Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Escondido sounds like a very hot California market.  The days on market are extremely short.  Home sellers and buyers need an expert like yourslef to guide them through the journey.

Nov 15, 2016 03:19 AM #5
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Beth Atalay  Thanks o much. Escondido was hit pretty hard by the recession but has recovered in a lot of ways. Being inland, prices are much more affordable thank coastal, but it also gets quite a bit warmer

Thank you Hannah Williams  There is a lot of diversity in housing options in Escondido

Jeff

Nov 15, 2016 03:52 AM #6
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents  I think that particular home would be around $1.1M or so. You can find some homes in the mid to high $300s, while there are at least 30 homes on the market in the $1M to $3M range and a spectacular mountain-top contemporary home at $6.95M.

Jeff

Nov 15, 2016 04:01 AM #7
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Michael Jacobs  Thanks for stopping by! Despite the drop in inventory there are plenty of good options, but it remains pretty competitive for buyers.

Belinda Spillman Thank YOU! Buyer need to decide quickly, at least in the lower price ranges.

Jeff

Nov 15, 2016 04:05 AM #8
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