What’s my Escondido Home Worth?
Escondido Real Estate Market in June 2017
Escondido 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 local market conditions in order to make informed decisions about buying and selling Escondido homes.
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 and manufactured homes). The data are believed to be reliable at the time this report was written but are not guaranteed.
In June 2017 there were 215 homes sold in Escondido, another increase in sales volume, by 12% from last month. Average sale prices increased for attached but declined for detached homes. Buyers were able to negotiate, on average, 1 - 2% off sales price; however, 42% of the homes sold for asking price or more. 11% of the transactions were cash, compared to 14% last month. Days on market decreased slightly for single family detached homes but increased for attached homes.
Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
215 (up 12%), 29 Days on Market, Ave. Sales Price $519,003 (down 6%) Ave. sale 98% of asking price,
Detached Homes Sold
176 (up 10%), 30 Days on Market, Ave. Sales Price $560,966 (down 7%), Ave. sale 98% of asking price
Attached Homes Sold
39 (up 22%), 21 Days on Market, Ave. Sales Price $329,633 (up 9%), Ave. sale 99% of asking price
The MEDIAN price of the detached homes sold was $520,000 (down 7%), with $320,000 (up 10%) for attached compared to past month.
There were 18 Escondido homes (7% of all active properties) on the market with a Contingent status (i.e., in most cases these are short sale or REO homes that have offers being considered by lenders), the same as last month and more than likely the same homes. These are included in the statistics below.
At the end of June there were 356 homes for sale in Escondido, an increase in inventory by 6% from last month. This represents an inventory of less than 1.1 months for attached properties (up from 1 month last month), and 2.4 months for detached homes (the same as last month), 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).
In June 246 homes came on the market, an increase in new listings by 5% from last month. In contrast the number of homes going pending (169), excluding homes that closed escrow, decreased by 16% from May 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. I can also assist you with the purchase OR sale of your home in Escondido. Please contact me at (760) 840-1360 so we can find the best time to get together and create plan for your success in buying and selling in 2017!
SEARCH FOR ESCONDIDO HOMES FOR SALE
READ MORE:
What’s my Escondido Home Worth? Escondido Real Estate in May 2017
Comments(12)