What’s my Escondido Home Worth? Escondido Home Sales for May 2018

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Real Estate Agent with Solutions Real Estate CalBRE License #01490977

What’s the Value of my Escondido Home?

Escondido Real Estate Market in May 2018

 

California Center for the ArtsEscondido 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 for sale.

 

 

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.

 

Here’s the breakdown of overall activity.

 

TOTAL HOMES SOLD

183 (up 22%), 24 Days on Market, Ave. Sales Price $595,654 (up 7%), Ave. sale 98% of asking price,

Detached Homes Sold
153 (up 24%), 25 Days on Market, Ave. Sales Price $642,051 (up 6%), Ave. sale 98% of asking price

Attached Homes (condos, town homes) Sold
30 (up 11%), 14 Days on Market, Ave. Sales Price $359,030 (up 7%), Ave. sale 99% of asking price

 

In May 2018 there were 183 homes sold in Escondido, a substantial increase of 22% from last month! Average sale prices increased modestly for detached homes and for attached. Buyers were able to negotiate an average of 1 - 2% off their sales price; however, 41% of the homes sold for asking price or more. 11% of the transactions were for cash, compared to 8% last month. Days on market dropped for attached homes (condos, town homes) but moved up modestly for detached, but remain under 1 month.

 

The MEDIAN price of the detached homes sold was $570,000 (up 3%), with $359,000 (up 9%) for attached homes compared to last month.

 

There were 16 Escondido homes (6% 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 19 last month and more than likely some of the same homes still awaiting approval. These are included in the statistics below.

 

At the end of May there were 339 homes for sale in Escondido, another significant bump up in inventory, by 10% from last month. This represents an inventory of 1.2 months for attached properties (down from 1.6 months last month), and 2.5 months for detached homes (the same as last month), based on the current rate of sales over the last 3 months. Escondido remains a very strong seller’s market. That likely means competition and multiple offers.

 

Escondido homes at Rimrock Estates

 

In May 252 homes came on the market, an increase in new listings by 6% from last month. In contrast, the number of homes going pending (153), excluding homes that closed, dropped by 15% from April 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 to discuss your housing needs and budget, and plan a strategy to buy or sell a home in Escondido!

 

SEARCH FOR ESCONDIDO HOMES FOR SALE

 

READ MORE:

What’s my Escondido Home Worth? Escondido Real Estate in April 2018

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Rainmaker
4,260,640
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Good morning, Jeff Dowler, CRS I know the answer to that question.... to find out what your Escondido home is worth, call Jeff Dowler for a Free Market Analysis.... his presentation will share the right price range with you and Jeff will answer all of your questions.

Jun 14, 2018 03:59 AM #1
Rainmaker
3,995,878
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing.

Jun 14, 2018 05:08 AM #2
Rainmaker
2,646,317
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Good morning Jeff. Thanks for the update. Always interesting to hear about the California market. Enjoy your day!

Jun 14, 2018 06:00 AM #3
Rainmaker
862,430
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Jeff Dowler, CRS - 17 miles is not far from the San Diego County beaches and one can get a lot more home for a lot less money.  This is a great alternative to live in San Diego area and you are the right agent to work with. 

Jun 14, 2018 01:00 PM #4
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Thank you Barbara Todaro  There's a lot going on in the Escondido market that sellers, and buyers, need to know.

Jeff

Jun 16, 2018 12:23 PM #5
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Gita Bantwal  - Thanks for the kind words.

Hey Wayne Martin No doubt it's an interesting comparison for many.

Jeff

Jun 16, 2018 12:24 PM #6
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Sheri Sperry - MCNE® 

That's so true. There are plenty of opportunities and the pricing IS definitely a plus compared to the coast.

Jeff

Jun 16, 2018 12:25 PM #7
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