What’s the Value of my Vista Home?
Vista Home Sales Report for August 2020
Vista is an inland community in North San Diego County, bordering Carlsbad, Oceanside and San Marcos. The community offers diverse housing in tract home communities, rental complexes and 55+ communities, as well in rural settings.
There are mixed use and agricultural areas, plus a growing downtown offering a wide range of shopping, dining and services. The Moonlight Amphitheater (outdoor stage productions and concerts) near the Village is a popular area attraction during the summer months.
It’s important for buyers and sellers in the Vista housing market to understand recent trends and current local market conditions in order to make informed decisions about buying and selling Vista homes for sale.
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 120 homes sold in August, about the same as last month (121), despite the pandemic. Here’s the breakdown of activity.
Detached Homes Sold
91 (down by 2), 27 Days on Market, Average Sales Price $688,230 (up 2%), Average sales price was 100% of original asking price
Attached Homes (condos, town homes) Sold
29 (up by 1), 41 Days on Market, Average Sales Price $443,667 (no change), Average sales price was 99% of original asking price
Total home sales in August was about the same as last month, with a slight drop in detached sales and a slight increase for attached sales. The average sales price rose slightly for detached homes but did not shift for attached. Marketing time was the same for the detached home sales but shorter for attached (still over 1 month).
While buyers were able to negotiate an average of 1% off the original list price, over half the buyers (58%) paid full price or more for their homes, likely due to competitive bidding in many cases. 9% of the Vista home buyers paid cash for their homes, about the same as last month.
The MEDIAN sales price of the detached homes sold was $639,900 (no change), and $415,000 (down 12%) for attached homes compared to last month.
At the end of August there were 90 homes for sale in Vista, ranging in price from $359,000 to $7,900,000, down 7% from last month, the 3rd decline in inventory. This represents an inventory of less than 1 month for attached properties (down from 1.4 months last month), and less than 1 month for detached homes (the same as last month), based on the current rate of sales over the last 3 months. Vista remains a very strong seller’s market, despite the pandemic, and became more competitive in August.
It was a busy month for sellers in August, with 125 homes coming on the market, a substantial increase in new listings by 29% from July, despite the pandemic. The number of homes going pending (114), excluding homes that closed in August, was about the same as last month (115), thus it was a busy month during the pandemic for buyers as well.
I am happy to provide more information about current real estate activity in the Vista 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 Vista.
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 Vista 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. Are you interested in the estimated value of your Vista home? Visit my home valuation site here.
Be aware there are specific state and county recommendations in place to help keep everyone safe, and some new procedures that impact the buying and selling process in our area. I am happy to share more details with you, and tell you more about what to expect when buying or selling a home in today’s housing market.