What’s the Value of my Escondido Home?
Escondido Home Sales for July 2024
Escondido is around 20 miles east of the beaches, and borders San Marcos and Fallbrook in North San Diego County.
It’s essential that buyers and sellers in the Escondido housing market have current information 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 are not guaranteed.
124 homes sold in July, 19% more sales than last month (104). Here’s a summary of the activity.
Single Family Homes Sold
107 (up 24%); 20 Average Days on Market; Average Sales Price $970,406 (down 15%); the Average Sales Price was 99% of the original asking price.
Condos, Townhomes & Duplexes Sold
17 (down by 1); 21 Average Days on Market; Average Sales Price $508,588 (down 5%); the Average sales price was 100% of the original asking price.
Overall home sales in July increased from June. There were substantially more single family home sales, but condo, townhome and duplex sales dropped by 1. The average sales price was lower for single family homes, as well as for condos, townhomes and duplexes, compared to June.
The marketing time was the same for single family homes as last month, and 1 day shorter for condos, townhomes and duplexes. Sales prices ranged from $349,000 to $2,070,000.
While many buyers were able to negotiate their purchase prices, over half (56%) paid listing price or more for their new homes. Buyer competition continues to affect prices and sales.
A number of buyers made quick decisions about touring homes and making offers, with 34% of the homes going pending in 1 week or less.
The median sales price of the detached single family homes was $885,000, down 15% from June. The median price was $472,000 for condos, townhomes and duplexes, down 6% from June.
There were 13 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 July there were 201 homes for sale in Escondido, down 4% from last month. List prices range from $349,000 to $25,000,000 (there is also 1 condo time share priced at $4,000).
This represents an inventory of 1.9 months for condos, townhomes and duplexes (down from 2.3 months last month). There is a 1.7 month supply of single family detached homes (down from 1. 9 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.
118 homes came on the market in July, compared to 153 last month. Similarly, the number of homes going pending decreased from last month, from 97 to 75, excluding homes that closed escrow in July.
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 via text at (760) 840-1360 to discuss your personal housing needs, lifestyle, and budget. Then we can develop a strategy to buy your new Escondido home when the time is right for you!
If you want to sell your Escondido home, I will provide a current market value and equity analysis for your property. We can also discuss a marketing strategy, plus your specific plans and timing. Together we’ll 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 June 2024
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