What’s the Value of my Escondido Home?
Escondido Home Sales for July 2023
Western Escondido is approximately 20 miles inland from the beaches, east of San Marcos and Fallbrook in North San Diego County.
It’s essential that buyers and sellers in the Escondido housing market are well educated about current local market conditions so they can make informed 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, 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.
113 homes sold in July, down 7% from last month (121). Here’s a summary of the activity.
Single Family Homes Sold
92 (down 2); 20 Average Days on Market; Average Sales Price $938,206 (down 5%); the Average Sales Price was 101% of original asking price.
Condos, Townhomes & Duplexes Sold
21 (down by 6); 13 Average Days on Market; Average Sales Price $508,348 (up 2%); the Average sales price was 102% of original asking price.
Overall home sales in July decreased from June. Detached single family home sales were lower, as were condo, townhome and duplex sales. The average sales price decreased modestly for single family homes, but rose slightly for condos, townhomes and duplexes, compared to June.
The average marketing time was 2 days longer for single family homes, and 1 day longer for condos, townhomes and twinhomes. Sales prices ranged from $320,000 to $2,100,000.
Some buyers negotiated their purchase prices down from original asking price, however, 69% paid list price or higher for their new homes, a small decrease from June. There is still plenty of competition.
The majority of buyers made quick decisions about touring homes and making successful offers, with 85% of the homes going pending in 1 week or less, well more than last month.
The median sales price of the detached single family homes was $827,500 (down 3%), and $506,500 (up 7%) for condos, townhomes and duplexes compared to June.
There were 10 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 July there were 113 homes for sale in Escondido, down 11% from June. List prices range from $329,900 to $8,700,000.
This represents an inventory of only 21 days for condos, townhomes and duplexes (versus 20 days in June). There is a 30-day supply of single family detached homes (down from 1.2 months last month), based on the rate of sales over the last 3 months. Escondido remains a very strong seller’s market for buyers.
105 homes came on the market in July, compared to 138 last month. Similarly, the number of homes going pending decreased from last month, from 95 to 86, excluding homes that closed escrow in July.
I’m happy to share more details about current real estate activity in the Escondido housing market, in specific zip codes, and for neighborhoods that interest you, and answer your questions about the local market conditions.
Please reach out directly 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 Escondido home, I'll provide a market value and equity analysis. We can also discuss marketing, and your specific plans and timing. We’ll then 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 June 2023
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