What’s the Value of my Escondido Home?
Escondido Real Estate Market Report for April 2022
Escondido is inland about 20 miles from the beaches, just east of San Marcos and Fallbrook, in North San Diego County.
It’s important that buyers and sellers in the Escondido housing market understand current local market conditions so they can make informed decisions about buying and selling Escondido homes for sale.
A Tour of Escondido – A Diverse Inland San Diego Community
The following data are based on the MLS (private sales are not included in these statistics, nor are multifamily properties, or mobile and manufactured homes). The statistics are believed to be reliable at the time this report was compiled but are not guaranteed.
177 homes sold in April, 18% more than last month and another increase. Here’s the breakdown of activity
Single Family Homes Sold
148 (up by 17%); 11 Average Days on Market; Average Sales Price $1,011,814 (down 2%); Average Sales Price was 107% of original asking price
Condos, Townhomes & Duplexes Sold
29 (up by 26%); 8 Average Days on Market; Average Sales Price $494,203 (up by 1%); Average sales price was 107% of original asking price
Overall home sales in April increased last month, with a significant improvement in single family sales and for 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 1 day longer for single family homes, but 2 days shorter for condos, townhomes and twinhomes. Sales prices ranged from $345,000 to $3,100,000.
Some buyers were able to negotiate their purchase prices down from original list price. However, 8 out of 10 paid more than asking price for their new homes. Clearly buyer demand and competition due to supply are causing this trend.
The data reveal that more than half of the buyers decided quickly about touring homes and making successful offers; 59% of the homes were pending in 1 week or less.
The median sales price of the single family homes that sold was $908,000 (up 1%), and $474,900 (down by 1%) 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 6 last month. These are included in the statistics below.
At the end of April there were 155 homes for sale in Escondido, a substantial 50% increase from last month and more good news for home buyers. Listing prices range from $285,000 to $27,500,000.
This represents an inventory of 26 days for condos, townhomes and duplexes (vs. 27 days last month) with 21 listings. There is a 1-month supply of single family detached homes (up from 22 days for last month), based on the current rate of sales over the last 3 months. Escondido continues to be a very strong seller’s market for buyers.
210 homes came on the market in April, 9% more new listings than last month, and more good news. In contrast, the number of homes going pending dropped by 13% in April (excluding homes that closed escrow) to 128. It was another active month of buying and selling 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
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