What’s the Value of my Escondido Home?
Escondido Real Estate Market in January 2021
Escondido is an inland community in North San Diego County, about 20 miles from the beaches, depending on your route, 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 for sale.
READ MORE:
A Tour of Escondido – A Diverse Inland San Diego Community
The following data are taken from the 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.
A total of 119 homes sold in January, 36% fewer sales than last month. Here’s the breakdown of activity:
Single Family Homes Sold
99 (down 32%); 19 Average Days on Market; Average Sales Price $727,019 (up 4%); Average Sales Price was 100% of original asking price
Condos, Townhomes & Duplexes Sold
20 (down 50%); 21 Average Days on Market; Average Sales Price $368,545 (up 1%); Average sales price was 99% of original asking price
Overall home sales in January declined significantly as we also saw in some other neighboring communities, and with fewer single family homes sold and fewer condo, townhome and duplex sales. The average sales price was modestly higher for single family homes, and slightly higher for condos, townhomes and duplexes compared to last month. Sales prices ranged from $240,000 to $1,840,000.
Some buyers were able to negotiate down from the original list price, but over half of the home buyers (56%) paid full price or more for their homes, no doubt due to multiple offers. Many buyers made quick decisions, with 45% of the homes going pending in 1 week or less, about the same as last month!
The MEDIAN sales price of the single family homes sold was $629,500 (up 3%), and $317,000 (down 10%) for condos, townhomes and duplexes compared to last month.
There were 9 Escondido homes on the market with an Active Under Contract status compared to 17 last month. These are included in the statistics below.
At the end of January there were 103 homes for sale in Escondido, just 3 fewer than last month, another decline although small. This represents an inventory of only 16 days for condos, townhomes and duplexes (down from 22 days in December), and 20 days for single family homes (up from 16 days last month), based on the current rate of sales over the last 3 months. Escondido remains a very strong seller’s market.
150 homes came on the market in January, 25% more than in December, an average of 5 new listings per day, and good news for buyers. The number of homes going pending also rose significantly in January (excluding those homes that sold that month), from 97 to 140 (up 44%); buyers and sellers were busy in the Escondido housing market during January.
I am happy to provide more information about current real estate activity in the Escondido real estate market, specific zip codes, and neighborhoods that interest you, and answer your questions about the current market conditions, as well as to assist you with the purchase and/or sale of a home in Escondido in 2021.
Please contact me at (760) 840-1360 so we can find the best time to get together and discuss your specific housing needs, lifestyle, and budget, then plan a strategy for you to buy your new Escondido home in 2021!
And if you are planning to sell your Escondido home, I will provide you with a market value and equity analysis, and we will discuss your timing and plans in order to create the best strategy to get your home sold quickly and for the best price, terms and conditions.
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READ MORE:
What’s my Escondido Home Worth? Escondido Real Estate in December 2020
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