What’s the Value of my Escondido Home Worth?
Escondido Real Estate Market in June 2022
The western edge of Escondido is approximately 20 miles inland from the beaches, and east of San Marcos and Fallbrook, in North San Diego County.
It’s essential buyers and sellers in the Escondido housing market are aware of current local market conditions so they can 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 based on the MLS (private sales are not included in these statistics, nor are multifamily properties, or mobile and manufactured homes). The statistics are believed to be reliable at the time this report was compiled but are not guaranteed.
159 homes sold in June, the same as last month. Here’s the breakdown of activity
Single Family Homes Sold
125 (down by 4); 15 Average Days on Market; Average Sales Price $1,029,846 (down by 2%); Average Sales Price was 102% of original asking price
Condos, Townhomes & Duplexes Sold
34 (up by 4); 15 Average Days on Market; Average Sales Price $503,720 down 3%); Average sales price was 104% of original asking price
Overall home sales in June remained the same, with 4 fewer single family sales, but 4 more condo, townhome and duplex sales. The average sales price decreased slightly for single family homes, as well as for condos, townhomes and duplexes, compared to May.
The time on the market (DOM) was shorter for single family homes, as well as for condos, townhomes and twinhomes. Sales prices ranged from $325,000 to $3,950,000.
A number of buyers were able to negotiate their purchase prices down from original asking price. However, about 3 out of 5 (67%) paid over list price for their new homes. There is no doubt buyer demand and competition continue to have an impact.
The data reveal that almost half of the buyers decided quickly about touring homes and making successful offers; 45% of the homes were pending in 1 week or less.
The median sales price of the single family homes was $900,000 (down 2%), and $486,250 (down 4%) for condos, townhomes and duplexes compared to April.
There were 11 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 June there were 236 homes for sale in Escondido, another, and substantial 24%, increase from last month and more positive news for home buyers. List prices range from $395,000 to $3,999,000.
This represents an inventory of 26 days for condos, townhomes and duplexes (vs. 23 days last month). There is a 1.5 month supply of single family detached homes (up from 1.2 months last month), based on the current rate of sales over the last 3 months. Escondido continues to be a very strong seller’s market for buyers.
189 homes came on the market in June, 7% fewer new listings than last month, but still good news overall. The number of homes going pending was also lower, at 106 (vs. 127 in May) in June, excluding homes that closed escrow. It was another active month of buying and selling!
I’m happy to share more detailed information about current real estate activity in the Escondido housing market, in specific zip codes, and for neighborhoods that interest you, and to answer your questions about the local market conditions. I can also assist you with the purchase and/or sale of an Escondido home.
Please contact me at (760) 840-1360 so we can discuss your particular housing needs, lifestyle, and budget. Then we can plan a strategy to buy your new Escondido home when the timing is right for you!
If you are planning to sell your home in Escondido, I will provide a market value and equity analysis, and we can discuss your specific plans and timing. With that information we can create a plan to get your home sold quickly for the best price, terms, and conditions.
SEARCH FOR ESCONDIDO HOMES FOR SALE
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What’s my Escondido Home Worth? Escondido Real Estate in May 2022
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