What’s my Escondido Home Worth?
Escondido Real Estate Market in August 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 224 homes sold in August, the same as last month. Here’s the breakdown of activity:
Single Family Homes Sold
175 (down by 6); 17 Average Days on Market; Average Sales Price $901,294 (up 4%); Average Sales Price was 102% of original asking price
Condos, Townhomes & Duplexes Sold
49 (up by 6); 8 Average Days on Market; Average Sales Price $431,152 (up 3%); Average sales price was 103% of original asking price
Overall home sales in August were the same as last month, with a modest decline in single family sales sold but more condo, townhome and duplex sales. The average sales price rose modestly for single family homes, as well as for condos, townhomes and duplexes compared to last month. Days on market decreased across the board. Sales prices ranged from $210,000 to $3,252,000.
Some buyers were able to negotiate their purchase price down from the original asking price, but the majority of home buyers (77%) paid list price or higher for their new homes, a good indicator of buyer competition.
Plenty of buyers made quick decisions about seeing homes and then making their offers, with 50% going pending in 1 week or less, about the same as in July!
The MEDIAN sales price of the single family homes sold was $805,190 (1% higher), and $405,000 (up 8%) for condos, townhomes and duplexes compared to last month.
There were 12 Escondido homes on the market with an Active Under Contract status compared to 19 last month. These are included in the statistics below.
At the end of August there were 170 homes for sale in Escondido, a 5% decline from last month following 2 months of inventory increases! Home prices range from $245,000 to $2,859,000. This represents an inventory of 16 days for condos, townhomes and duplexes (down from 26 days in July), and 23 days for single family detached homes (no change from last month), based on the current rate of sales over the last 3 months. Escondido continues to be a very strong seller’s market.
194 homes came on the market in August, a substantial drop by 20% from last month, but still an average of 6 new listings every day. The number of homes going pending, however, increased modestly in August (excluding those homes that sold that month) to 188, up 3%. It was still an active 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 can discuss your specific plans and timing and then create the right strategy to get your home sold quickly for the best price, terms, and conditions.