What’s the Value of my Escondido Home?
Escondido Real Estate Market in November 2020
Escondido 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 167 homes sold in November, 16% fewer than last month. Here’s the breakdown of activity.
Single Family Homes Sold
132 (down 16%); Average Sales Price $730,097 (up 5%); Average Sales Price was 100% of original asking price
Condos, Townhomes & Duplexes Sold
35 (17% fewer); 17 Average Days on Market; Average Sales Price $375,019 (up 2%); Average sales price was 99% of original asking price
Overall home sales in November dropped fairly significantly as we saw in other communities, with fewer single family homes sold as well as fewer condo, townhome and duplex sales. The average sales price was modestly higher for single family homes, and slightly higher for condos, townhomes and duplexes compared to last month. Sales prices ranged from $190,000 to $2,030,000.
Some buyers were able to negotiate some off the original list price, but well over half of the home buyers (60%) paid full price or more for their homes, no doubt due to multiple offers. Many buyers made quick decisions, with almost half (47%) of the homes going pending in 1 week or less!
The MEDIAN sales price of the single family homes sold was $658,450 (down 2%), and $379,000 (up 3%) for condos, townhomes and duplexes compared to last month.
There were 9 Escondido homes on the market with an Active Under Contract status compared to 17 last month. These are included in the statistics below.
At the end of November there were 120 homes for sale in Escondido, 33% fewer than last month and a trend seen in other communities, no doubt in part due to the time of year. This represents an inventory of 22 days for condos, townhomes and duplexes (down from 1.2 months in October), and only 18 days for detached homes (down from 25 days last month), based on the current rate of sales over the last 3 months. Escondido remains a very strong seller’s market and became more competitive in November.
118 homes came on the market in November, 40% fewer than in October, but still an average of around 4 new listings per day. The number of homes going pending also dropped in November, from 186 to 143 (down 23%); despite the declines buyers and sellers were busy in the Escondido housing market during November.
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 your 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 2021!
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 best strategy to get your home sold quickly and for the best price, terms and conditions.
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READ MORE:
What’s my Escondido Home Worth? Escondido Real Estate in October 2020
