What’s the Value of my Escondido Home?
Escondido Home Sales for November 2017
Escondido is an inland community, about 17 miles from the beaches 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 November 2017 there were 136 homes sold in Escondido, a decrease of 16% from last month. Average sale prices decreased modestly for attached homes, but rose for single family detached homes. Buyers were able to negotiate an average of 3% off their sales price; however, 34% of the homes sold for asking price or more. 13% of the transactions were cash, compared to 16% last month. Days on market remained at about a month for single family detached but declined modestly for attached homes.
Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
136 (down 16%), 30 Days on Market, Ave. Sales Price $544,226 (up 4%) Ave. sale 97% of asking price,
Detached Homes Sold
110 (down 17%), 31 Days on Market, Ave. Sales Price $599,646 (up 6%), Ave. sale 97% of asking price
Attached Homes Sold
26 (down 7%), 29 Days on Market, Ave. Sales Price $309,757 (down 3%), Ave. sale 97% of asking price
The MEDIAN price of the detached homes sold was $547,500 (up 6%), with $293,500 (up 4%) for attached homes compared to last month.
There were 19 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), versus 15 last month and more than likely many of the same homes still awaiting approval. These are included in the statistics below.
At the end of November there were 286 homes for sale in Escondido, another decrease in inventory, by 6% from last month (303). This represents an inventory of less than 1 month for attached properties (the same as last month), and 1.8 months for detached homes (the same as the last 2 months), based on the current rate of sales over the last 6 months. The market remains very competitive for buyers, and is a very strong seller’s market based on inventory levels, especially for buyers of attached homes (condos, townhomes).
In November 159 homes came on the market, a decrease in new listings by 11% from last month. Similarly, the number of homes going pending (124), excluding homes that closed escrow, declined by 5% from October 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, as well as to assist you with the purchase OR sale of a home in Escondido. Please contact me at (760) 840-1360 so we can find the best time to get together!
SEARCH FOR ESCONDIDO HOMES FOR SALE
READ MORE:
What’s my Escondido Home Worth? Escondido Real Estate in October 2017
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