What’s the Value of my Escondido Home?
Escondido Home Sales for October 2023
Western Escondido is approximately 20 miles inland from the beaches, bordering San Marcos and Fallbrook in North San Diego County.
It’s important 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 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 written but are not guaranteed.
92 homes sold in October, 1 more than last month. Here’s a summary of the activity.
Single Family Homes Sold
77 (up 1); 19 Average Days on Market; Average Sales Price $976,904 (down 4%); the Average Sales Price was 99% of the original asking price.
Condos, Townhomes & Duplexes Sold
15 (no change); 21 Average Days on Market; Average Sales Price $543,660 (up 6%); the Average sales price was 100% of original asking price.
Overall home sales in October rose slightly from September. There was 1 more single family home sale, while condo, townhome and duplex sales did not shift. The average sales price was modestly lower for single family homes, but increased for condos, townhomes and duplexes, compared to September.
The time on the market was about the same for single family homes as last month, but was longer for condos, townhomes and twinhomes. Sales prices ranged from $365,000 to $1,850,000.
A number of buyers negotiated their purchase prices down from the original list price. At the same time, however, 59% paid asking price or higher for their new homes. Thus buyer competition is still affecting prices.
Plenty of buyers decided quickly about touring homes and making offers, with 41% of the homes going pending in 1 week or less.
The median sales price of the detached single family homes was $880,000 (down 1%), and $544,000 (up 8%) for condos, townhomes and duplexes compared to September.
There were 9 Escondido homes on the market with an Active Under Contract Status, the same as last month. These are included in the statistics below.
At the end of October there were 136 homes for sale in Escondido, 19% more than last month (125), and more good news for buyers. List prices range from $390,000 to $2,695,000 (with 2 condo time shares at $5,000 and $44,900).
This represents an inventory of 1.6 months for condos, townhomes and duplexes (versus 29 days in September). There is a 1.4 month supply of single family detached homes (up from 1.3 months last month), based on the rate of sales over the last 3 months. Escondido continues to be a very strong seller’s market for buyers.
114 homes came on the market in October, compared to 115 last month. In contrast, the number of homes going pending decreased from last month, from 77 to 70, excluding homes that closed escrow in October.
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 directly or by 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 can provide a market value and equity analysis. We will also discuss marketing strategy, 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 September 2023
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