What’s the Value of my Escondido Home?
Escondido Market Report for October 2022
Western Escondido is approximately 20 miles inland from the beaches, and east of San Marcos and Fallbrook, in North San Diego County.
It’s important for buyers and sellers in the Escondido housing market to be educated about current local market conditions so they can make informed decisions about buying and selling Escondido homes for sale. This is particularly important with today’s shifting market!
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.
93 homes sold in October, 15% fewer than last month. Here’s a summary of the housing activity
Single Family Homes Sold
77 (down 14%); 27 Average Days on Market; Average Sales Price $866,010 (down 6%); Average Sales Price was 96% of original asking price
Condos, Townhomes & Duplexes Sold
16 (down by 3); 17 Average Days on Market; Average Sales Price $415,768 (down 14%); Average sales price was 97% of original asking price
Overall home sales in October dropped from last month. Detached single family sales were lower, as were condo, townhome and duplex sales. The average sales price dropped modestly for single family homes, and was also lower for condos, townhomes and duplexes, compared to September.
The marketing time (DOM or Days on Market) did not change for single family homes, but dropped for condos, townhomes and twinhomes. Sales prices ranged from $295,000 to $2,600,000.
The majority of buyers negotiated their purchase prices down from original list price. However, 38% paid asking price or higher for their new homes, fewer than last month. Supply and demand continue to have an impact on prices and competition.
Some buyers decided quickly about touring homes and making successful offers; 29% of the homes were pending in 1 week or less, about the same as in September.
The median sales price of the single family homes was $765,000 (down 10%), and $388,500 (down 19%) for condos, townhomes and duplexes compared to last month.
There were 5 Escondido homes on the market with an Active Under Contract Status, compared to 6 last month. These are included in the following statistics.
At the end of October there were 268 homes for sale in Escondido, up 6% from 254 last month, another increase and good news for buyers. List prices range from $338,000 to $4,000,000.
This represents an inventory of 1.6 months for condos, townhomes and duplexes (the same as last month). There is a 2.5 month supply of single family detached homes (up from 2.1 months last month), based on the rate of sales over the last 3 months. Escondido remains a very strong seller’s market for buyers.
148 homes came on the market in October, just 2 fewer new listings than in September. The number of homes going pending improved from last month, up by 3 to 84 excluding homes that closed escrow. It was a fairly active month for buying and selling in Escondido!
I’m happy to share more detailed information about up-to-date 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 you with the purchase and/or sale of an Escondido home.
Please reach out to me by phone or text at (760) 840-1360 so we can discuss your particular housing needs, lifestyle, and budget. Then we can 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.