What’s the Value of my Escondido Home?
Escondido Home Sales for November 2023
Western Escondido is around 20 miles inland from the beaches, and borders San Marcos and Fallbrook in North San Diego County.
It’s essential for buyers and sellers in the Escondido housing market to be well educated about current local market conditions (Read More: Real Estate Is Local…But HOW Local?) so they can make educated buying and selling decisions around 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.
79 homes sold in November, 14% fewer than last month. Here’s a summary of the activity.
Single Family Homes Sold
65 (down 16%); 21 Average Days on Market; Average Sales Price $1,013,473 (up 4%); the Average Sales Price was 98% of the original asking price.
Condos, Townhomes & Duplexes Sold
14 (down 1); 10 Average Days on Market; Average Sales Price $486,021 (down 11%); the Average sales price was 100% of original asking price.
Overall home sales in November declined from October. There were fewer single family home sales, as well as 1 fewer condo, townhome and duplex sale. The average sales price was modestly higher for single family homes, but decreased for condos, townhomes and duplexes, compared to October.
The time on the market was about the same for single family homes as last month, but longer for condos, townhomes and twinhomes. Sales prices ranged from $367,300 to $2,800,000.
A number of buyers negotiated their purchase prices down from the original list price. At the same time, however, 58% paid asking price or higher for their new homes, about the same as last month. As a result, buyer competition is still affecting prices and sales.
Many buyers decided quickly about touring homes and making offers, with 35% of the homes going pending in 1 week or less.
The median sales price of the detached single family homes was $945,000 (up 7%), and $480,000 (down 12%) for condos, townhomes and duplexes compared to October.
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 November there were 127 homes for sale in Escondido, 7% fewer than last month (136). List prices range from $339,000 to $2,550,000 (with 2 condo time shares at $5,000 and $44,000).
This represents an inventory of 2.1 months for condos, townhomes and duplexes (up from 1.6 months in October). There is a 1.3 month supply of single family detached homes (down from 1.4 months last month), based on the rate of sales over the last 3 months. Escondido remains a very strong seller’s market for home buyers.
90 homes came on the market in November, compared to 114 last month. Similarly, the number of homes going pending decreased from last month, from 70 to 62, excluding those homes that closed escrow in November.
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 to discuss your personal housing needs, lifestyle, and budget. Then we can create 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 October 2023
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