What’s my Escondido Home Worth? Escondido Real Estate in January 2017

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

What’s the Value of my Escondido Home?

 

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

 

It’s important for buyers and sellers in the Escondido housing market to 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 January 2017 there were 123 homes sold in Escondido, a significant decrease in sales volume by 31% from last month, a pattern we saw in other nearby communities. Average sale prices increased modestly across the board. Buyers were able to negotiate, on average, 1 - 6% off sales price; however, 32% of the homes sold for asking price or more. 11% of the transactions were cash, compared to 12% last month. Days on market increased for detached homes but decreased for attached.

 

Here’s the breakdown of overall activity.

 

TOTAL HOMES SOLD

123 (down 31%), 53 Days on Market, Ave. Sales Price $540,386 (up 8%), Ave. sale 95% of asking price,

Detached Homes Sold
103 (down 31%), 57 Days on Market, Ave. Sales Price $588,388 (up 9%), Ave. sale 94% of asking price

Attached Homes Sold
20 (down 29%), 33 Days on Market, Ave. Sales Price $293,175 (up 2%), Ave. sale 99% of asking price

 

Rimrock Estates in Escondido

 

The MEDIAN price of the detached homes sold was $505,000 (up 5%), with $300,000 (up 5%) for attached.

 

There were 17 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, down by 4 (20%) from December. These are included in the statistics below.

 

At the end of January there were 240 homes for sale in Escondido, a decline in inventory by 10% from last month, following a significant drop in inventory from November to December. This represents an inventory of less than 1 month for attached properties (the same as last month), and 1.6 months for detached homes (up from 1.3 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 January 179 homes came on the market, a significant increase in new listings by 41% from last month – good news for buyers. In contrast the number of homes going pending (129), excluding homes that closed escrow, decreased by 10% from December pendings.

 

I am happy to provide more information about current real estate activity in the Escondido real estate market, specific zip codes, and neighborhoods, 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 December 2016

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Rainmaker
381,170
Steven Nickens
Elite Pacific Properties Maui - Wailea, HI
R(S)GRI ABR, Maui Real Estate Hawaii

Jeff, excellent report as always.  Looks like the market is moving along just fine.  You really stay on top of the market, that's why you're such a great real estate agent.

Feb 14, 2017 02:30 PM #1
Rainmaker
332,501
Nina Rogoff
RE/MAX Executive Realty - Medfield, MA
Selling Norfolk County Homes

Truly, Jeff Dowler, you are the master of real estate reports! I have learned so much from you! I know Sellers and Buyers learn so much, too, and when they are guided by you, they are in the best hands in Escondido and all of the surrounding communities that you represent! 

Feb 14, 2017 04:27 PM #2
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Hi, Jeff....this is great real estate information for Excondido, CA. Both buyers and sellers will find this information very useful. 

Feb 14, 2017 04:32 PM #3
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Steven Nickens 

I appreciate the kind words! I think it's essential for us to know our local market conditions so we can properly advise buyers and sellers who need our help.

Jeff

Feb 14, 2017 04:55 PM #4
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Nina Rogoff  - so nice to hear from you! I'm flattered, and appreciate the compliment!!

It's been an interesting market to watch, and a competitive one, Debbie Laity  Thanks for stopping by.

Jeff

Feb 14, 2017 05:01 PM #5
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Jim Crawford
RE/MAX Paramount Properties - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Jeff Dowler Thank you for taking the time to prepare and share this information.  Excellent!  It's most informative.

Feb 15, 2017 06:42 AM #6
Rainmaker
1,956,654
Will Hamm
Hamm Homes - Denver, CO
"Where There's a Will, There's a Way!"

Hello Jeff Dowler,  As always, I would call you right away if I wnated to sell my home in your area.  Make it a great day!

 

Feb 15, 2017 08:29 AM #7
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Thanks for the kind words Jim Crawford  - I appreciate your stopping by to read and comment!

Hi Will Hamm  What a nice compliment! Thank you .

Jeff

Feb 15, 2017 09:19 AM #8
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thanks for sharing.

Feb 15, 2017 05:08 PM #9
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Jeff Dowler

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What's my Carlsbad CA Area Home Worth??
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