Escondido is found in the North county area of San Diego, California. It is home to one of the nicest indoor shopping malls in the county which has been going through so much remodeling, it is now an even more upscale mall. And guess what?
Thank you Westfield, for bringing North county residents their very own, “CHEESECAKE FACTORY”, Hip, hip hooray! I’m sure many are anticipating it’s opening this Winter, but the mall has added their Target store and now cheesecake is on the way? Wow, I have no idea how anyone could bypass this much temptation... great shopping in an upscale mall and delicious restaurants to boot!
Well, as if it can’t get any better, Escondido has become a much easier city to commute from, ever since the HOV lanes have been extended and the traffic in the metro area keeps moving along much faster than it does along the coast on interstate 5. So, with that being said, lets talk about the Escondido real estate market.
In the last 30 days, homes in the 92025 and 92029 zip codes have had 82 homes put into pending status, and 46 homes closed escrow and sold. The homes in pending have an average of 46 days on the market and selling for an average of $235/per square foot. As for the attached market in Escondido, the activity has been much less because there is scarcity in the market, inventory is lower and people are not doing much moving. This is what the last 30 days have shown us in Escondido’s attached market. It could be because the attached market in the Escondido area is just proportionately smaller than the detached market to begin with. Sure, there is attached living available, but much of that market is made up of income producing apartment buildings.
Homes in the 92026 and 92027 zip codes are boasting 157 homes in pending status and 91 homes in sold status in the last 30 days. The average selling price is $406,430 and the average market time is 54 days. That’s amazing to see so many homes in the “sold” category in the last 30 days. I’m sure there has been many more home sales, but this report has only taken a snapshot of the most recent closings. One would have to summarize that money is moving again.
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