What’s the Value of my Escondido Home?
Escondido Homes Sales for March 2024
Escondido is an inland community, around 20 miles 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 the current local market conditions (Read More: Real Estate Is Local…But HOW Local?) so they can make educated buying and selling decisions about 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 information is believed reliable at the time this market report was written but is not guaranteed.
105 homes sold in March, 3 more than last month. Here’s a summary of the activity.
Single Family Homes Sold
87 (up by 3); 16 Average Days on Market; Average Sales Price $1,019,078 (up 2%); the Average Sales Price was 101% of the original asking price.
Condos, Townhomes & Duplexes Sold
18 (no change); 29 Average Days on Market; Average Sales Price $564,085 (up 3%); the Average sales price was 101% of original asking price.
Overall home sales in March increased slightly from February. There were 3 more single family home sales, but the number of condo, townhome and duplex sales remained the same. The average sales price was slightly higher for single family homes, as it also was for condos, townhomes and duplexes, compared to February.
The marketing time was several days longer for single family homes than last month, and was substantially longer for condos, townhomes and duplexes. Sales prices ranged from $350,000 to $2,058,000.
While some home buyers negotiated their purchase prices, the majority (65%) paid asking price or more for their new homes. Buyer competition continues to affect pricing and sales.
A number of buyers decided quickly about touring homes and making offers. 40% of the homes went pending in 7 days or less.
The median sales price of the detached single family homes was $908,000 (up 2%). The median price was $587,000 for condos, townhomes and duplexes, up 12% compared to February.
There were 11 Escondido homes on the market with an Active Under Contract Status, the same as last month. These are included in the following statistics.
At the end of March there were 132 homes for sale in Escondido, up 37% from last month. List prices range from $397,900 to $5,995,000 (with 2 condo time shares priced at $4,000 each and 1 at $44,900).
This represents an inventory of 1.3 months for condos, townhomes and duplexes (up from 25 days in February). There is a 1.4 month supply of single family detached homes (up from 1.2 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 home buyers.
122 homes came on the market in March, compared to 92 last month. In contrast, the number of homes going pending decreased from last month, from 87 to 78, excluding homes that closed escrow in March.
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 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 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 February 2024
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