What’s the Value of my Escondido Home?
Escondido Home Sales for September 2024
Escondido is approximately 20 miles east of the beaches, and borders San Marcos, Valley Center, and Fallbrook in North San Diego County.
It’s essential that buyers and sellers in the Escondido housing market have current information about the 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 taken from the MLS (private sales are not included, nor are multifamily properties, or mobile and manufactured homes). The information is believed to be reliable at the time this market report was written but are not guaranteed.
69 homes sold in September, 23% fewer sales than last month (90). Here’s a summary of the activity.
Single Family Homes Sold
62 (down 14%); 24 Average Days on Market; Average Sales Price $1,027,503 (up 6%); the Average Sales Price was 99% of the original asking price.
Condos, Townhomes & Duplexes Sold
7 (down 61%); 35 Average Days on Market; Average Sales Price $481,142 (down 10%); the Average Sales Price was 98% of the original asking price.
Overall home sales in September decreased significantly from August. There were fewer single family home sales, and significantly fewer condo, townhome and duplex sales. The average sales price was higher for single family homes, but was lower for condos, townhomes and duplexes, compared to August.
The marketing time was slightly longer for single family homes in September, and was longer by 2 weeks for condos, townhomes and duplexes. Sales prices ranged from $337,000 to $2,125,000.
Many buyers were able to negotiate their purchase prices, however, slightly more than half (52%) paid asking 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 28% of the homes going pending in 1 week or less.
The median sales price of the detached single family homes was $880,500, up 4% from August. The median price of $465,000 for condos, townhomes and duplexes was down 9% from August.
There were 11 Escondido homes on the market with an Active Under Contract Status, compared to 16 last month. These are included in the following statistics.
At the end of September there were 256 homes for sale in Escondido, up by 27% from last month (202) – good news for buyers. List prices range from $309,900 to $20,000,000 (there are also 2 condo time shares available priced at $3,000 and $4,000).
This represents an inventory of 3.9 months for condos, townhomes and duplexes (up from 1.6 months last month). There is a 2.5 month supply of single family detached homes (up from 2 months last month), based on the rate of sales over the last 3 months. Escondido remains a strong seller’s market for home buyers especially for single family homes.
135 homes came on the market in September, compared to 174 last month. On the other hand, the number of homes going pending increased significantly from last month, from 66 to 98, excluding homes that closed escrow in September.
I’m happy to share more details about the current real estate activity in Escondido, in specific zip codes, and for neighborhoods that interest you, and to answer any 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 August 2024
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