What’s the Value of my Escondido Home?
Escondido Home Sales for February 2024
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 informed about the current local market conditions (Read More: Real Estate Is Local…But HOW Local?) so they can make informed 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.
102 homes sold in February, 40% more than last month. Here’s a summary of the activity.
Single Family Homes Sold
84 (up 56%); 19 Average Days on Market; Average Sales Price $1,003,292 (up 1%); the Average Sales Price was 99% of the original asking price.
Condos, Townhomes & Duplexes Sold
18 (down by 1); 12 Average Days on Market; Average Sales Price $545,475 (up 3%); the Average sales price was 99% of original asking price.
Overall home sales in February increased significantly from January. There were substantially more single family home sales, but just 1 more condo, townhome and duplex sale. The average sales price was slightly higher for single family homes, and was modestly higher for condos, townhomes and duplexes, compared to January.
The marketing time was shorter for single family homes than last month, as it also was for condos, townhomes and duplexes. Sales prices ranged from $340,000 to $2,000,000.
Some home buyers negotiated their purchase prices down from the original list price. However, the majority (56%) paid asking price or higher for their new homes. Buyer competition is still affecting prices and sales.
Plenty of buyers decided promptly about touring homes and making offers. 50% of the homes went pending in 7 days or less.
The median sales price of the detached single family homes was $888,500 (up 6%), and $523,850 (up 5%) for condos, townhomes and duplexes compared to January.
There were 11 Escondido homes on the market with an Active Under Contract Status, versus 8 last month. These are included in the following statistics.
At the end of February there were 96 homes for sale in Escondido, 4 fewer than last month. List prices range from $365,000 to $2,898,000 (with 2 condo time shares priced at $4,000 each and 1 at $44,900).
This represents an inventory of only 25 days for condos, townhomes and duplexes (down from 1.4 months in January). There is a 1.2 month supply of single family detached homes (down from 1.3 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.
92 homes came on the market in February, compared to 129 last month. Similarly, the number of homes going pending decreased from last month, from 102 to 87, excluding those homes that closed escrow in February.
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 talk about 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 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 January 2024
Comments(6)