What’s my Escondido Home Worth? Escondido Home Sales in February 2020

By
Real Estate Agent with eXp Realty of California CA DRE #01490977

What’s my Escondido Home Worth?

Escondido Real Estate Market in February 2020

 

California Center for the Arts in Escondido CAEscondido is an inland community in North San Diego County, about 20 miles from the beaches, depending on your route, 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 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 130 homes sold in February, 4 more than last month (up 3%). Here’s the breakdown of activity.

 

Detached Homes Sold
107 (no change), 42 Days on Market, Average Sales Price $647,565 (up 4%), Average sale 98% of original asking price

 

Attached Homes (condos, town homes) Sold
23 (up 15%), 18 Days on Market, Average Sales Price $323,017 (down 10%), Average sale 99% of original asking price

 

Home sales in February rose by 4 overall, with 1 more detached sale and 3 more attached sales. The average sales price rose modestly for detached homes, but declined for attached homes compared to January.

 

While buyers were able to negotiate an average of 1 - 2% off the original list price, almost half (47%) of the home buyers paid full price or more for their homes, which is likely due to competitive bidding in many cases. 5% of the Escondido home buyers paid cash. Average marketing time did not change for detached single family homes but was significantly shorter for attached home sales – 10 of the homes, almost half, went pending in 7 days or less!

 

The MEDIAN sales price of the detached homes sold was $639,000 (up 7%), and $314,000 (down 5%) for attached homes compared to last month.

 

There were 18 Escondido homes on the market with a Contingent status (i.e., in some cases these are short sale or REO homes that have offers being considered by lenders but others are first right of refusals), versus 15 last month; 6 are short sales and the rest are first right of refusals. These are included in the statistics below.

 

Home at Rimrock Estates in Escondido CA

 

At the end of February there were 215 homes for sale in Escondido, just 2 less than last month. This represents an inventory of only 1 month for attached properties (dropping from 1.1 months last month), and 1.6 months for detached homes (no change from last month), based on the current rate of sales over the last 3 months. Escondido remains a very strong seller’s market.

 

In February 192 homes came on the market, 85% more new listings than in January which was good news for buyers. Similarly, the number of homes going pending (141), excluding homes that closed in February, was 29% higher than in January.

 

I am happy to provide more information about current real estate activity in the Escondido real estate market, specific zip codes, and neighborhoods that interest you, and answer any questions about the current market conditions, as well as to assist you with the purchase and/or sale of a home in Escondido.

 

Please contact me at (760) 840-1360 so we can find the best time to get together and discuss your particular housing needs, lifestyle, and budget, then plan a strategy for you to buy your new Escondido home in 2020!

 

And if you are planning to sell your home, I will provide you with a market value and equity analysis, and discuss your timing and plans so we can create the right strategy to get your home sold quickly and for the best price, terms and conditions.

 

SEARCH FOR ESCONDIDO HOMES FOR SALE

 

READ MORE:

What’s my Escondido Home Worth? Escondido Real Estate in January 2020

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Rainmaker
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Joseph Doohan
Joseph Doohan - Las Vegas, NV
I offer business strategy advice for realtors

Thanks for sharing this information on your local market, great information. I hope you have a great day ahead.

Mar 19, 2020 01:56 AM #1
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. Demand high, inventory low! Time on market to contract extremely quick. Buyers needs professional guidance. Enjoy your day! 

Mar 19, 2020 04:17 AM #2
Rainmaker
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Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Escondido home buyers and sellers are certain to appreciate your real estate market report, Jeff.

Mar 19, 2020 01:24 PM #3
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hope you're doing well, Jeff. I'm sure our real estate markets are going to shake out of this current situation and continue on just fine. D 

Mar 21, 2020 11:24 AM #4
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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Thank you Joseph Doohan  You as well.

Wise words Wayne Martin  We all need to keep close tabs on the market so we can educate buyers and sellers in these challenging times.

Jeff

Mar 21, 2020 11:31 AM #5
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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Hi Myrl Jeffcoat 

Thanks for the kind words. I hope all is well with you!

Enjoy your weekend, at home!

Jeff

Mar 21, 2020 11:44 AM #6
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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Thanks Debb Janes EcoBroker and Bernie Stea JD 

I believe that as well, and we will have learned alot! I think it's essential to keep abreast of our local markets so we can be the voice of reason and reality for our clients and prospects over time.

Enjoy your weekend at home!

Jeff

Mar 21, 2020 11:46 AM #7
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