What’s the Value of my Escondido Home?
Escondido Market Report for September 2023
Western Escondido is about 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 (Read More: Real Estate Is Local…But HOW Local?) 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 taken from the MLS (private sales are not included, nor are multifamily properties, or mobile and manufactured homes). The statistics are believed reliable at the time this market report was compiled but are not guaranteed.
91 homes sold in September, down 10% from last month. Here’s a summary of the activity.
Single Family Homes Sold
76 (down 13%); 18 Average Days on Market; Average Sales Price $1,013,980 (no change); the Average Sales Price was 100% of original asking price.
Condos, Townhomes & Duplexes Sold
15 (up 1); 7 Average Days on Market; Average Sales Price $514,083 (up 2%); the Average sales price was 103% of original asking price.
Overall home sales in September decreased from August. Detached single family home sales declined, while condo, townhome and duplex sales increased by 1. The average sales price did not shift for single family homes, but increased slightly for condos, townhomes and duplexes, compared to August.
The time on the market was the same for single family homes as last month, but was shorter for condos, townhomes and twinhomes. Sales prices ranged from $348,000 to $3,245,000.
Some of the buyers negotiated their purchase prices down from the original asking price. However, 65% paid list price or higher for their new homes. There is clearly still plenty of competition.
Many buyers made quick decisions about touring homes and making successful offers, with 44% of the homes going pending in 1 week or less, fewer than last month.
The median sales price of the detached single family homes was $887,500 (down 2%), and $505,000 (up 8%) for condos, townhomes and duplexes compared to August.
There were 9 Escondido homes on the market with an Active Under Contract Status, compared to 11 last month. These are included in the statistics below.
At the end of September there were 125 homes for sale in Escondido, 10% more than last month (114), and some good news for buyers. List prices range from $44,900 (a Time Share) to $3,900,000.
This represents an inventory of only 29 days for condos, townhomes and duplexes (versus 20 days in August). There is a 1.3 month supply of single family detached homes (up from 1.1 months last month), based on the rate of sales over the last 3 months. Escondido remains a very strong seller’s market for buyers.
115 homes came on the market in September, compared to 98 last month. In contrast, the number of homes going pending decreased from last month, from 86 to 77, excluding homes that closed escrow in September.
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 to answer your questions about the local market conditions.
Please reach out to me by phone or text at (760) 840-1360 so we can discuss your personal 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 will 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 August 2023
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