What’s the Value of my Escondido Home?
Escondido Real Estate Market in June 2021
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.
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 228 homes sold in June, 21% more sales than last month (189). Here’s the breakdown of activity:
Single Family Homes Sold
194 (up by 17%); 9 Average Days on Market; Average Sales Price $843,042 (down 3%); Average Sales Price was 106% of original asking price
Condos, Townhomes & Duplexes Sold
34 (up 47%); 10 Average Days on Market; Average Sales Price $438,114 (up 15%); Average sales price was 106% of original asking price
Overall home sales in June were significantly higher than last month, with a modest decline of single family homes sold but more condo, townhome and duplex sales. The average sales price was lower for single family homes, but higher for condos, townhomes and duplexes compared to last month. Sales prices ranged from 232,500 to $2,150,000.
A number of buyers negotiated money off the original list price, but the vast majority of home buyers (88%) paid list price or more for their new homes (with 1 at 139% of asking price), a good indication of competitive bidding.
Plenty of buyers decided quickly on seeing homes and then making their offers, with 2 out of 3 buyers (66%) going pending in 1 week or less, about the same as in May!
The MEDIAN sales price of the single family homes sold was $755,000 (10% lower), and $412,900 (up 13%) for condos, townhomes and duplexes compared to May.
There were 11 Escondido homes on the market with an Active Under Contract status compared to 9 last month. These are included in the statistics below.
At the end of June there were 142 homes for sale in Escondido, a 10% improvement from last month and some positive news for home buyers. Home prices range from $269,000 to $2,499,999. This represents an inventory of 23 days for condos, townhomes and duplexes (down from 25 days in May), and 21 days for single family detached homes (versus 20 days last month), based on the current rate of sales over the last 3 months. Escondido remains a very strong seller’s market.
246 homes came on the market in June, an increase by 8% from May, and an average of 8 new listings each day…good news for buyers. Similarly, the number of homes going pending increased in June (excluding those homes that sold that month) to 211, up 4%. It was another busy month of buying and selling 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 that interest you, and to answer your questions about the current market conditions, plus 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 specific 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 Escondido home, I will provide you with a market value and equity analysis, and we will discuss your timing and plans in order to create the right strategy to get your home sold quickly and for the best price, terms, and conditions.