What’s the Value of my Escondido Home?
Escondido Real Estate Market in March 2022
Escondido is an inland North San Diego County community, about 20 miles from the beaches, just east of San Marcos and Fallbrook.
It’s essential that buyers and sellers in the Escondido housing market understand current local market conditions in order to make educated 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 derived 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 compiled but are not guaranteed.
150 homes sold in March, 15% more than last month. Here’s the breakdown of activity
Single Family Homes Sold
127 (up by 15%); 10 Average Days on Market; Average Sales Price $1,036,200 (up by 11%); Average Sales Price was 107% of original asking price
Condos, Townhomes & Duplexes Sold
23 (up by 3); 10 Average Days on Market; Average Sales Price $490,852 (up 7%); Average sales price was 106% of original asking price
Overall home sales in March were higher than last month, another increase, with a significant improvement in single family sales and a modest increase in condo, townhome and duplex sales. The average sales price increased for single family homes, and for condos, townhomes and duplexes, compared to last month.
The days on the market (DOM) was several days shorter for single family homes, but several days longer for condos, townhomes and twinhomes (but only 10 days on average for both). Sales prices ranged from $336,500 to $3,025,000.
Some buyers successfully negotiated their purchase prices down from original list price. However, the majority (89%) paid full price and higher for their new homes, even more than last month. It’s obvious buyer demand and competition due to supply are fueling this trend.
The statistics show that more than half of the buyers decided quickly about touring homes and then making successful offers; 63% of the homes went pending in 1 week or less.
The median sales price of the single family homes that sold was $900,000 (15% higher), and $480,000 (up 15%) for condos, townhomes and duplexes compared to last month.
There were 6 Escondido homes on the market with an Active Under Contract status compared to 7 last month. These are included in the statistics below.
At the end of March there were 103 homes for sale in Escondido, a 24% increase from last month and good news for home buyers. Home prices range from $299,000 to $27,500,000 (the most expensive is a 290 acre property with multiple buildings and an orchard).
This represents an inventory of 27 days for condos, townhomes and duplexes (an increase from 10 days last month) with 21 listings as of this writing. There is a supply of 20 days for single family detached homes (no change from last month), based on the current rate of sales over the last 3 months. Escondido remains a very strong seller’s market for buyers.
192 homes came on the market in March, 30% more new listings than last month which was good news for buyers. Similarly, the number of homes going pending increased by 24% in March (excluding homes that sold in March) to 147. It was an active month of selling and buying in Escondido!
I’m happy to share more detailed information about current real estate activity in the Escondido housing market, in specific zip codes, and for neighborhoods that interest you, and to answer your questions about the local market conditions. I can also assist with the purchase and/or sale of a home in Escondido.
Please reach out to me at (760) 840-1360 so we can discuss your personal housing needs, lifestyle, and budget, then plan a strategy to buy your new Escondido home when the timing is right for you!
If you are planning to sell your home in Escondido, I will provide a market value and equity analysis, and we can discuss your specific plans and timing. With that information we can create a plan to get your home sold quickly for the best price, terms, and conditions.
SEARCH FOR ESCONDIDO HOMES FOR SALE
READ MORE:
What’s my Escondido Home Worth? Escondido Real Estate in February 2022
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