What’s my Escondido Home Worth? Escondido Real Estate September 2016

By
Real Estate Agent with eXp Realty of California CA DRE #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.

 

Buyers and sellers in the Escondido housing market should 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 September 2016 there were 155 homes sold in Escondido, a decrease in sales volume by 10% from last month. Average sale prices decreased for detached homes but rose modestly for attached homes. Buyers were able to negotiate, on average, 2 - 3% off sales price; however, 32% of the homes sold for asking price or more. 10% of the transactions were cash, compared to 9% last month. Days on market decreased slightly for both detached and attached homes.

 

Here’s the breakdown of overall activity.

 

TOTAL HOMES SOLD

155 (down 10%), 36 Days on Market, Ave. Sales Price $481,776 (down 3%), Ave. sale 98% of asking price,

Detached Homes Sold
123 (down 12%), 39 Days on Market, Ave. Sales Price $530,946 (down 3%), Ave. sale 97% of asking price

Attached Homes Sold
32 (down 9%), 26 Days on Market, Ave. Sales Price $292,780 (up 6%), Ave. sale 101% of asking price

 

Escondido home

 

The MEDIAN price of the detached homes sold was $476,000 (down 6%), with $311,000 (up 12%) for attached.

 

There were 30 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, 7% more than in August. These are included in the statistics below.

 

At the end of September there were 439 homes for sale in Escondido, a slight drop b y 1% from last month. This represents an inventory of 1.7 months for attached properties (up from 1.4 months last month), and 2.7 months for detached homes (down from 2.8 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 September 244 homes came on the market, down 10% from last month. The number of homes going pending (183), excluding homes that closed escrow, however increased, by 3%, from August pendings.

 

I am happy to provide more information about current real estate activity in the Escondido real estate market 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 August 2016

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Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington - Tacoma, WA
South Puget Sound Washington Agent/Broker!

If I ever had questions about Escondido homes, I would make it a point to call you first!

Happy Monday Jeff Dowler I hope this is the start of a great week!

Oct 17, 2016 09:52 AM #1
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Anna Banana Kruchten Broker/Owner, CRB, CRS
Phoenix Property Shoppe - Phoenix, AZ
602-380-4886

Jeff very good Escondidio CA market report.  You write in such an easily to understand way!  You clearly are the go to expert in Escondido.

Oct 17, 2016 10:11 AM #2
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Mark Don McInnes, Sandpoint
Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Hello Jeff,  Seems your market is giving mixed signals.  It is good buyers and sellers alike can come to Jeff Dowler for professional Real Estate counsel.  mark

Oct 17, 2016 01:01 PM #3
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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Hi Paul S. Henderson, REALTOR®, Broker, Tacoma Washington 

Thanks for the kind words. The week is starting off great. Winding down on another Carlsbad closing and a new listing coming on board. And some wonderful family time in LA planned for late in the week!

Jeff

Oct 17, 2016 01:27 PM #4
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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Thank you kindly Anna Banana Kruchten . I suppose it's alot of information but buyers and sellers need to gain a perspective on the market  that I can define further when we work together.

Mark Don McInnes, Sandpoint  - there are definitely nuances of the market that impact both buyers and sellers. It's an important part of the education we do to help our clients make the right decisions.

Jeff

Oct 17, 2016 01:30 PM #5
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Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Hi Jeff, you are doing such a good jub informing the folks in the Escondido area who may be thinking about a move in the near future.

Oct 18, 2016 08:03 AM #6
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