What’s the Value of my Escondido Home? Escondido Home Sales March 2019

By
Real Estate Agent with Solutions Real Estate CA DRE #01490977

What’s my Escondido Home Worth? Escondido Real Estate Market in March 2019

 

California Center for the ArtsEscondido is an inland community, about 20 miles from the beaches, depending on your route, and just east of San Marcos.

 

Buyers and sellers in the Escondido housing market need 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.

 

A total of 150 homes sold in March, an increase of 33% from February. Here’s the breakdown of activity.

 

Detached Homes Sold
118 (up 26%), 35 Days on Market, Average Sales Price $600,221 (up 1%), Average sale 98% of original asking price

 

Attached Homes (condos, town homes) Sold
32 (up 68%), 44 Days on Market, Average Sales Price $297,355 (down 7%), Average sale 98% of original asking price

 

Home sales increased significantly, especially for attached homes, and are a good indicator of our spring housing market activity. Average sale prices increased slightly for detached homes, but declined for attached homes.

 

Buyers were able to negotiate an average of 2% off the list price; however, 39% of the home buyers ended up paying full price or more, which is likely due to competitive bidding. 13% of the Escondido home buyers paid cash, compared to 4% last month. Marketing time increased slightly for attached (condos, town homes) home but dropped modestly for detached single family homes.

 

The MEDIAN price of the detached homes sold was $542,000 (down 1%), and $279,000 (down 4%) for attached homes compared to last month.

 

There were 13 Escondido homes 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), the same as last month; most of these are first right of refusals, while 3 are short sales. These are included in the statistics below.

 

At the end of March there were 337 homes for sale in Escondido, just 1 less than last month. This represents an inventory of 1.5 months for attached properties (down from 2.5 months last month), and 3 months for detached homes (down from 3.2 months last month), based on the current rate of sales over the last 3 months. Escondido remains a strong seller’s market.

 

Rimrock homes in Escondido

 

In March 251 homes came on the market, 39% more new listings than in February which is good news for buyers. Similarly, the number of homes going pending (175), excluding homes that closed in March, shifted up by 33% from February pendings, more indications of the active market in Escondido.

 

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 needs and budget, and plan a strategy for you 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 February 2019

 

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Rainmaker
3,149,957
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff what  a great detailed Market Trends Report of the Escondido area, Endre

Apr 24, 2019 11:11 PM #1
Rainmaker
3,132,239
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. Thinventory is a way of life in California. Thanks for the update. Enjoy your day!

Apr 25, 2019 05:52 AM #2
Rainmaker
1,825,932
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Jeff - another great report.  The inland communities offer some great opportunities.

Apr 25, 2019 09:38 AM #3
Rainmaker
1,137,358
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Jeff Dowler, CRS - When buyers are ready to learn more about Escondido they just need to contact you to get the latest scoop!

Believe it or not - I have not spent any time in Escondido, so I can't speak of it personally. 

Apr 25, 2019 01:21 PM #4
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