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What’s my Escondido Home Worth? Escondido Market Report January 2024

By
Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

What’s the Value of my Escondido Home?

Escondido Home Sales for January 2024

 

California Center for the Arts in Escondido CAEscondido is around 20 miles inland from the beaches, bordering San Marcos and Fallbrook in North San Diego County.

 

It’s essential that buyers and sellers in the Escondido housing market are well informed 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.

 

73 homes sold in January, 4 more than last month. Here’s a summary of the activity.

 

Single Family Homes Sold
54 (up by 2); 26 Average Days on Market; Average Sales Price $995,757 (down 8%); the Average Sales Price was 101% of the original asking price.

Condos, Townhomes & Duplexes Sold
19 (up by 2); 17 Average Days on Market; Average Sales Price $529,110 (no change); the Average sales price was 101% of original asking price.

 

Overall home sales in January increased modestly from December. There were 2 more single family home sales, and 2 more condo, townhome and duplex sales. The average sales price was lower for single family homes, but did not shift for condos, townhomes and duplexes, compared to December.

 

The marketing time was 5 days shorter for single family homes than last month, and 1 day shorter for condos, townhomes and duplexes. Sales prices ranged from $325,000 to $2,350,000.

 

Some home buyers negotiated their purchase prices down from the original list price. However, the majority (62%) paid asking price or higher for their new homes, more than last month. Buyer competition is still having an impact on prices and sales.

 

Plenty of buyers decided quickly about touring homes and making their offers. 42% of the homes were pending in 1 week or less.

 

Rimrock Estates home in Escondido CA

 

The median sales price of the detached single family homes was $837,000 (down 1%), and $500,000 (down 5%) for condos, townhomes and duplexes compared to December.

 

There were 8 Escondido homes on the market with an Active Under Contract Status, versus 3 last month. These are included in the following statistics.

 

At the end of January there were 100 homes for sale in Escondido, 18% more than last month (85). List prices range from $349,000 to $2,350,000 (with 2 condo time shares priced at $5,000 and $44,900 respectively).

 

This represents an inventory of 1.4 months for condos, townhomes and duplexes (up from 1.3 months in December). There is a 1.3 month supply of single family detached homes (up from 20 days last month), based on the rate of sales over the last 3 months. Escondido continues to be a very strong seller’s market for home buyers.

 

129 homes came on the market in January, compared to 55 last month. Similarly, the number of homes going pending increased from last month, from 76 to 102, excluding those homes that closed escrow in January.

 

I’m pleased 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 particular 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 will provide a market value and equity analysis. We’ll also discuss a marketing strategy, plus your specific plans and timing. We can then develop a strategy 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 December 2023

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I have stayed in Escondido a few times and have some fond memories of the area.  I am sure I will stay there in the future as well.

Feb 16, 2024 04:33 AM
Jeff Dowler, CRS

I'm glad you have enjoyed your visits Brian England  Thanks for stopping by.

Have a good weekend!

Jeff

Feb 16, 2024 12:06 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff Dowler, CRS  inquiring minds want to know how many of those 72 did you sell?:)Endre

Feb 22, 2024 10:11 PM
Jeff Dowler, CRS

Endre Barath, Jr. 

Sorry to say I haven't sold a home in Escondido since last summer!

Jeff

Feb 23, 2024 09:32 AM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Very insightful!  This is the type of information buyers and sellers need to make informed decisions!  Thanks for sharing!

Feb 23, 2024 08:20 AM
Jeff Dowler, CRS

Thanks for the compliment, Jim Crawford 

Jeff

Feb 23, 2024 09:33 AM