What’s my Escondido Home Worth? Escondido Homes Sales for August 2020

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

What’s the Value of my Escondido Home?

Escondido Real Estate Market in August 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 204 homes sold in August, an increase of 6 homes from last month despite the pandemic, and a similar trend seen in other communities. Here’s the breakdown of activity.

 

Detached Homes Sold
166 (up by 3), 26 Days on Market, Average Sales Price $686,666 (down by 6%), Average sales price was 100% of original asking price

 

Attached Homes (condos, town homes) Sold
38 (up by 3), 21 Days on Market, Average Sales Price $353,690 (down 1%), Average sales price was 100% of original asking price

 

Overall home sales in August rose, with slight increases in both detached and attached home sales. The average sales price was modestly lower for detached homes, but slightly less for attached homes compared to July prices. Sales prices ranged from $187,000 to $2,200,000.

 

Buyers did not negotiate much off the original list price, and well over half of the home buyers (60%) paid full price or more for their homes, despite the pandemic, no doubt due to competitive bidding. 9% of the Escondido home buyers paid cash. The average marketing time declined by 9 days for detached single family homes, and was 1 day shorter for attached home sales; many buyers made quick decisions with 51% of the homes going pending in 1 week or less!

 

The MEDIAN sales price of the detached homes sold was $633,000 (down 3%), and $318,750 (down 13%) for attached homes compared to last month.

 

There were 12 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), compared to 5 last month; 1 is a short sale and the rest are first right of refusals. These are included in the statistics below.

 

Home in Rimrock Estates in Escondido CA

 

At the end of August there were 141 homes for sale in Escondido, ranging in price from $229,000 to $3,575,000, 2 fewer than last month. This represents an inventory of less than 1 month for attached properties (the same as last month), and less than 1 month for detached homes (also like last month), based on the current rate of sales over the last 3 months. Escondido remains a very strong seller’s market despite the pandemic and became even more competitive in August.

 

In August 214 homes came on the market, 12% more than in July, despite the pandemic, which was good news for buyers with an average of 7 homes listed per day. In contrast, the number of homes going pending dropped in August, from 205 to 179 (down 13%); both buyers and sellers were busy in the Escondido housing market during the month.

 

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 personal 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.

 

Be aware there are specific recommendations in place to help keep everyone safe for showings, and some new procedures as the result of the SIP Order that impacts the buying and selling process in our area. I am happy to share information with you and answer any questions about what to expect when buying or selling a home in today’s housing market.

 

SEARCH FOR ESCONDIDO HOMES FOR SALE

 

READ MORE:

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

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Show All Comments
Rainmaker
3,445,150
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff always enjoy your market reports, I hope you have contributed to these statistics Endre

Sep 14, 2020 10:11 PM #1
Rainmaker
3,290,350
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Jeff.

Even the smallest price is above my pay grade.  I guess that is why I'm here and you're there.  Enjoy

Sep 15, 2020 01:14 AM #2
Rainmaker
3,710,906
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. California prices and demand continues to be impressive. Enjoy your day.

Sep 15, 2020 06:30 AM #3
Rainmaker
306,637
Shannon Jones
The Shannon Jones Team - Long Beach, CA
Long Beach CA Real Estate

Great update! Thank you.

Sep 15, 2020 09:24 AM #4
Ambassador
4,297,447
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thanks Endre Barath, Jr.  No, can't say I helped the market in Escondido this month.

Jeff

Sep 15, 2020 10:20 AM #5
Rainmaker
2,820,494
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Escondido home buyers and sellers are sure to value your real estate market report, Jeff!

Sep 15, 2020 12:43 PM #6
Rainmaker
3,445,150
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff we expect you to contribute to the September Market Reports:)Endre

Sep 15, 2020 10:29 PM #7
Ambassador
3,372,053
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Hi Jeff!  I for one, just love saying the name 'Escondido.'

I hope you are having a wonderful Wednesday, Jeff Dowler, CRS 

Sep 16, 2020 09:45 AM #8
Rainmaker
5,978,513
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Prospective home sellers will be in very good hands when they seek your professional real estate advice and assistance.

Sep 17, 2020 05:38 AM #9
Rainmaker
4,443,709
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jeff, very nice market update for Escondido, and you have lots of valuable information for any buyers looking there! 

Sep 17, 2020 01:51 PM #10
Rainmaker
2,229,422
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Escondido is the place to find a wide range of prices and it appears there is a lot of inventory to choose from too. Buy don't take my word - ask the man, the expert, the specialist, the person who knows this area better than me or anyone else I know. That person is Jeff Dowler, CRS and he's great!

Sep 22, 2020 08:32 AM #11
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Jeff Dowler, CRS

The Southern California Relocation Dude
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