What’s the Value of my Escondido Home?
Escondido Home Sales for November 2024
Escondido is an inland community in North San Diego County, about 20 miles east of the beaches, and bordering San Marcos, Fallbrook and Valley Center.
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?) in order to 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 data are believed to be reliable at the time this market report was written but are not guaranteed.
There were 86 homes sold in December, 20% fewer sales than last month (108). Here’s a summary of the activity.
Single Family Homes Sold
66 (down 31%); 30 Average Days on Market; Average Sales Price $995,114 (down 4%); the Average Sales Price was 97% of the original asking price.
Condos, Townhomes & Duplexes Sold
20 (up by 7); 54 Average Days on Market; Average Sales Price $535,574 (up 7%); the Average sales price was 96% of the original asking price.
Overall home sales in December decreased from November. There were substantially fewer single family home sales, while condo, townhome and duplex sales increased by 54%. The average sales price was slightly lower for single family homes, but increased for condos, townhomes and duplexes, compared to November.
The marketing time was modestly shorter for single family homes than in November, but significantly longer for condos, townhomes and duplexes. Sales prices ranged from $280,000 to $1,860,000.
While the majority of buyers negotiated their purchase prices, at the same time 37% paid asking price or higher for their new homes. Buyer competition continues to impact sales prices and volume.
Some home buyers made prompt decisions about touring homes and making offers, with 23% of the homes going pending in 7 days or less.
The median sales price of the detached single family homes was $900,000, down 6% from November. Similarly, the median price of $472,500 for condos, townhomes and duplexes was down by 5% from last month.
There were 8 Escondido homes on the market with an Active Under Contract Status, compared to 11 last month. These are included in the following statistics.
At the end of December there were 189 homes for sale in Escondido, down 14% from last month (221). List prices range from $299,000 to $20,000,000 (as in November, there are also 2 condo time shares available, priced at $3,000 and $4,000).
This represents an inventory of 2.4 months for condos, townhomes and duplexes (down from 3.3 months last month). There is a 1.7 month supply of single family detached homes (down from 2.1 months last month), based on the rate of sales over the last 3 months. Escondido continues to be a strong seller’s market for home buyers.
72 homes came on the market in December, compared to 99 last month. The number of homes going pending decreased from 81 last month to 62, excluding homes that closed escrow in December.
I’m happy to share more details about the recent real estate activity in Escondido, in specific zip codes, and for neighborhoods that interest you. I will also answer any questions that you have about local market conditions.
Please reach out to me directly or by text at (760) 840-1360 so we can talk about your personal housing needs, lifestyle, and budget. Then we can develop a plan to buy your new Escondido home when the time is right for you!
If you plan to sell your Escondido home, I can 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 can create 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 November 2024
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