Escondido Homes for Sale – What Happened in the Escondido Real Estate Market for April 2012?

Escondido is an inland community, about 15 miles from the coast adjacent to San Marcos. Like its neighbors, San Marcos, Vista and Oceanside, Escondido has seen fairly significant shifts in the real estate market with a large number of short sales and foreclosures.

READ MORE:

A Tour of Escondido – A Diverse Inland San Diego Community

As a buyer or seller in the Escondido real estate market, understanding recent trends and current market conditions is essential so you can make informed decisions; media reports focus on general market conditions and therefore will not provide an accurate picture of the local Escondido real estate market.

The following data are taken from the San Diego MLS (private sales are not included in these statistics, nor are multifamily properties or mobile/manufactured homes). The data are believed to be reliable but are not guaranteed.

In April 2012 there were 212 homes sold in the Escondido real estate market, up 12% from March. Sales volume rose for both detached and attached homes; average sale prices also increased for attached home sales but declined for detached single family homes. Buyers were able to negotiate, on average, about 3- 4% off sales price.

Here’s the breakdown of overall activity.

There were 263 Escondido homes (45% of all active properties) on the market with a Contingent status, i.e., short sale or REO homes that have offers being considered by lenders. These are included in the statistics below.

At the end of April 2012 there were 583 Escondido homes for sale, about 5% fewer homes on the market than at the end of March, the 3^rd month of inventory decline. This represents an inventory of 2.1 months for attached homes (down from 3.8 months in March), the lowest in North San Diego County communities, and 3.7 months for detached homes (the same as in March), based on the current rate of sales over the last 6 months.  Thus the market has gotten even tighter for buyers, and one might argue the Escondido real estate market is now one that favors sellers, especially those selling attached homes.

READ MORE:   How Important is Inventory when Buying or Selling? Very!!

In April 248 homes came on the market, down 6% from new listings in March. The number of homes going pending (216) also decreased again, by 6%, from March pendings.

I am happy to provide more information about current real estate activity in the Escondido real estate market and answer any questions that you may have about current market conditions.

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Escondido Homes for Sale – What Happened in the Escondido Real Estate Market in March 2012?

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Escondido Homes for Sale – What Happened in the Escondido Real Estate Market in January 2012?

Carlsbad Homes for Sale - What Happened in the Carlsbad Real Estate Market in April 2012?

The Carlsbad real estate market continues to shift, and the statistics for April show a number of changes from last month, some substantial. These data do not include private sales or manufactured/mobile/multi-family housing; the numbers are derived from the MLS and are believed to be accurate but are not guaranteed.

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Media reports speak in general terms, so information may not represent the reality of our local Carlsbad real estate market. Having data, and knowledge, about the local market conditions benefits you as a buyer or seller so you can make informed purchase and sale decisions. 

In April 2012 there were 162 Carlsbad homes sold (92008, 92009, 92010 and 92011), up 41% from February. Here’s the breakdown of overall activity. 

The number of Carlsbad home sales rose fairly significantly over March sales (and have risen almost 60% since February) - 19% of these were cash sales. Average sale prices rose modestly for detached homes but declined for attached home sales. There is some negotiation going on and buyers, on average, are getting their homes for 3% off the asking price.

There were 137 properties (26% of the total) in Carlsbad at the end of April with the CONTINGENT status, 2% more than last month (i.e., homes with offers being reviewed for approval by short sale and REO lenders).

There were 527 Carlsbad Homes for sale at the end of April (down 5%), the 9^th consecutive decline in inventory, and the lowest inventory since January of 2010! This represents an inventory of 4.1 months for attached homes (down from 4.8 months last month) and 4.4 months for detached (down from 5.2 last month) based on the current rate of sales over the last 6 months. The real estate market in Carlsbad continues to be competitive and in getting more so.

READ MORE: How Important is Inventory when Buying or Selling? Very!!

In April the number of new homes coming on the market increased, with 196 new listings hitting the market, just 4 fewer than last month. The number of homes going pending declined by 4% to 165, from March pendings.  

This overview of the Carlsbad real estate market is based on information provided by the MLS. More details can be provided with regard to current activity as well as within the specific zip codes of Carlsbad.

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Carlsbad Homes for Sale – What Happened in the Carlsbad Real Estate Market in March 2012?

Carlsbad Homes for Sale – What Happened in the Carlsbad Real Estate Market in February 2012?

Carlsbad Homes for Sale – What Happened in the Carlsbad Real Estate Market in January 2012?

Del Mar Homes for Sale - What Happened in the Del Mar Real Estate Market in April 2012?

Del Mar is a small coastal town in North San Diego County and one of the most expensive towns in the county. Indeed, the Del Mar real estate market currently has the most expensive home for sale in San Diego County (at $43M), and still holds the record for the most expensive property sold (at about $48,000,000). 

READ MORE: Del Mar - Affluent Seaside Town (A Community Profile) 

Up to date information on the local Del Mar real estate market is important for buyers and sellers to make informed decisions about buying and selling Del Mar homes. Here are the statistics obtained from the MLS for Del Mar for April 2012 (the data are believed accurate but are not guaranteed, and do not include private sales). 

22 homes sold in the Del Mar real estate market in April 2012, 2a whopping 69% increase over March sales. Here's a summary of the activity: 

Overall sales volume rose significantly from March. Average sale prices, however, saw a substantial drop across the board (in part due to the fact that 1 detached home sold at $6.3 million last month which raised the average significantly). Buyers were able to negotiate, on average, 4 - 7% off list prices.

There were 5 Del Mar homes on the market at the end of April 2012 with a Contingent status (i.e., homes with offers being reviewed by short sale and REO lenders, 6% of the total number of homes for sale). These are included in the overall Active statistics below. 

34 homes entered the Del Mar real estate market in April, just 1 less than in March. 24 Del Mar homes went pending in April, another increase in pendings, by 2 (up 10%) over March pendings.

There were 131 Del Mar homes for sale at the end of April, another downward shift, by 2%, the 2^nd decline in a row. At the current rate of sales over a 6-month period, this represents an inventory of 10.9 months for detached homes (down from 12.2 last month), and 5.3 months for attached properties, down from 6.3 months in March, indicating a tightening of the market, especially for attached homes in Del Mar.

READ MORE: How Important is Inventory when Buying or Selling? Very!!  

As with any statistic, 1 month of numbers does not establish a trend, so it is important to watch what has been happening over a period of time. One should not draw any firm conclusions regarding pricing because of the extremes in the Del Mar real estate market, as well as the fairly small number of sales. 

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Del Mar Homes for Sale – What Happened in the Del Mar Real Estate Market in March 2012?

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Del Mar Homes for Sale – What Happened in the Del Mar Real Estate Market in January 2012?

Rancho Santa Fe Homes for Sale - What Happened in the Rancho Santa Fe Real Estate Market Report in April 2012?

As a buyer or seller in the Rancho Santa Fe real estate market, having information about the current market conditions will enable you to make an informed decision regarding what to do with regard to buying or selling a Rancho Santa Fe home. 

The Rancho Santa Fe real estate market is very localized, and the most expensive community, on average, in San Diego County. Knowing what is going on in the market with regard to inventory and sales is important for making a buying or selling decision. Finding comparables for determining price for either a listing or a purchase can sometimes be tricky since many high-end properties are unique. 

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Here is a summary of the Rancho Santa Fe real estate market for April 2011 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed. 

As of the end of April there were 9 homes in the Rancho Santa Fe real estate market with a Contingent status (i.e., short sale and REO homes that had offers being reviewed), 1 more than last month, and these are included in the Active statistics below.

As of April 2011 there were 234 Ranch Santa Fe homes for sale (96% of these are detached), 8 more than last month (up 4%), one of the few communities locally where inventory rose. This represents an inventory of 6 months for attached homes (up from 4.8 months in February), and 15 months for detached homes at the current rate of sales (based on a 6-month period), which is down from 15.8 months in March.

The number of Rancho Santa Fe homes coming on the market in April decreased to 42 (down 26%), with 18 homes going pending during the same period, a decrease in pendings by 28% over last month (25).

READ MORE: How Important is Inventory when Buying or Selling? Very!! 

Data are based on information provided by the MLS for homes that went under contract in the last couple of months. If you would like more details about the Rancho Santa Fe real estate market with regard to current activity as well as the specific areas such as Fairbanks Ranch and the Covenant, please let me know. 

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Rancho Santa Fe Homes for Sale – What Happened in the Rancho Santa Fe Real Estate Market in March 2012?

Rancho Santa Fe Homes for Sale – What Happened in the Rancho Santa Fe Real Estate Market in February 2012?

Rancho Santa Fe Homes – What Happened in the Rancho Santa Fe Real Estate Market in January 2012?

Escondido Homes for Sale - What Happened in the Escondido Real Estate Market in March 2012?

Escondido is an inland community, about 15 miles from the coast adjacent to San Marcos. Like its neighbors, San Marcos, Vista and Oceanside, Escondido has seen fairly significant shifts in the real estate market with a large number of short sales and foreclosures.

READ MORE: A Tour of Escondido – A Diverse Inland San Diego Community

As a buyer or seller in the Escondido real estate market, understanding recent trends and current market conditions is essential so you can make informed decisions; media reports focus on general market conditions and therefore will not provide an accurate picture of the local Escondido real estate market.

The following data are taken from the San Diego MLS (private sales are not included in these statistics, nor are multifamily properties or mobile/manufactured homes). The data are believed to be reliable but are not guaranteed.

In March 2012 there were 190 homes sold in the Escondido real estate market, up 53% from February (and up 76% over January). Sales volume rose significantly as did average sales prices for detached homes, the bulk of the sales – 26% of the transactions were cash. Buyers were able to negotiate, on average, about 1 - 3% off sales price.

Here’s the breakdown of overall activity.

There were 273 Escondido homes (45% of all active properties) on the market with a Contingent status, i.e., short sale or REO homes that have offers being considered by lenders. These are included in the statistics below.

At the end of March 2012 there were 611 Escondido homes for sale, about 6% fewer homes on the market than at the end of February, another decline. This represents an inventory of 3.8 months for attached homes (down from 4 months in February) and 3.7 months for detached homes (down from 5 months in February), based on the current rate of sales over the last 6 months.  Thus the market has gotten even tighter for buyers, and one might argue the Escondido real estate market may now be one that favors sellers, at least at some price points.

READ MORE:   How Important is Inventory when Buying or Selling? Very!!

What Impact will the Shadow Inventory Have on the Housing Market?

In March 260 homes came on the market, 30% more than in February. The number of homes going pending (220) also increased again, by 54%, from February pendings, another good sign for the Escondido real estate market.

I am happy to provide more information about current real estate activity in the Escondido real estate market and answer any questions that you may have about current market conditions.

SEARCH FOR ESCONDIDO HOMES FOR SALE

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Escondido Homes for Sale – What Happened in the Escondido Real Estate Market in February 2012?

Escondido Homes for Sale – What Happened in the Escondido Real Estate Market in January 2012?

Escondido Homes for Sale – What Happened in the Escondido Real Estate Market in December 2011?

Escondido Homes for Sale – What Happened in the Escondido Real Estate Market in November 2011?

Escondido Homes for Sale | Escondido Real Estate Market Report for October 2011

Escondido Homes for Sale | Escondido Real Estate Market Report for September 2011

Del Mar is a small coastal town in North Diego County with a reputation for being one of the most expensive towns in the county. Indeed, the Del Mar real estate market currently has two of the most expensive homes for sale in San Diego County (at $76M and $50M), and still holds the record for the most expensive property sold (at about $48,000,000). 

READ MORE: Del Mar - Affluent Seaside Town (A Community Profile)

Having up to date information on the local Del Mar real estate market is important to make informed decisions about buying and selling property. Here are the statistics obtained from the MLS for Del Mar for September 2009 (the data are believed accurate but are not guaranteed, and do not include private sales). 

23 homes sold in the Del Mar real estate market in September, almost double the number of sales in August which had increased by 44% over July, encouraging news for a high-end community especially in terms of detached home sales. Here's a summary of the activity: 

Sales volume increased over the prior month with an upward shift in the average price of a detached home, but a decline (due to lower end sales) for attached homes. Of the Del Mar home sales in September, 2 of the detached homes were short sales, and 1 attached home was bank-owned. 

There were 7 Del Mar homes on the market at the end of September with a Contingent status (i.e., homes with offers being reviewed by short sale and REO lenders). These are included in the overall Active statistics below. 

35 homes entered the Del Mar real estate market in September 2009, 5 more than in August. 

There were 182 Del Mar homes for sale at the end of September 2009, with no change in inventory from August. At the current rate of sales over a 6-month period, this represents an inventory of 12.6 months for detached homes (down from 14.2 in August which had declined from July), and 9.9 months for attached properties, another decease (from 14.2 months in August which had dropped 5 months from July 2009). 

23 Del Mar homes went pending in September (19 of them detached), 2 more than in August. 

As with any statistic, 1 month of numbers are not a trend, so it is important to watch what is happening over a period of time. One should not draw any firm conclusions regarding pricing because of the extremes in the Del Mar real estate market, however there are some encouraging numbers regarding the inventory with more sales, along with improved affordability for attached homes. 

READ MORE: How Important is Inventory when Buying or Selling? Very!!  

Del Mar Real Estate Market Report for August 2009 

Del Mar Real Estate Market Report for July 2009

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If I can provide more information about Del Mar real estate, or about real estate in surrounding areas, the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

Not everyone is a numbers person. Some folks really don't like math or dealing with statistics or anything that involved numbers.

Other people are very focused on statistics and numerical information, and tend to be more analytical. They not only appreciate numbers, but demand them.

Allow me to suggest that as a buyer in the Carlsbad real estate market, you should know about the market statistics for the area(s) you are interested in, even if you do not consider yourself a numbers person. Being informed about the market in essential to making a good decision about your home purchase so you do not overpay, or make offers that simply will not go anywhere, unless that is your M.O. If so, this post is not likely to be useful.

We are all aware of the statistics and trends that get reported in the media, but perhaps you do not realize that, as a source of data about the housing market, the media is woefully inept. Reporting general trends on a county or a region says little or nothing about what is going on in the local market, which is where you should be concerned.

As a buyer, you are likely concerned about what's for sale AND how the market is doing. Here are a few related tips: 

TIP #1: Don't pay a lot of attention to what the media is saying about the area you are interested in, other than, perhaps, to use those headlines as a starting point of discussion with a knowledgeable REALTOR who can provide the numbers for the area of interest. Their reports are too generalized and not often up to date. 

TIP# 2: Get your statistics on the market from a REALTOR who can provide details from the MLS specific to your area(s) of interest, analyze the information and tell you what it means for you, and provide direction from other reports(e.g., Altos Research) and their own knowledge of the market. Your REALTOR should be able to provide statistics for you AND interpret them, plus answer your questions; if not, there could be a problem. Graphs can be helpful for those who are not so numbers oriented.

TIP #3: Be careful about relying on a single data point, or information for one month only. Trends, looking at statistics over time, will generally be more useful in giving you a feel for what the market in your particular area or neighborhood is doing. And the data should be specific to your market segment; the trends for the least expensive homes (under $200,000) CAN be very different that the most expensive homes ($1 million plus).

TIP #4: My personal belief is that the more information, the better. Statistics can vary from month to month depending on what homes have sold, particular the average price versus the median price. They also vary in terms of which stats you look at. People tend to have favorites, like the average price per square foot, the average price, median price, and so on, but relying on one can be a mistake since there are many factors that can impact these numbers. 

TIP #5: Not only do you need to know statistics, like Days on Market (DOM), average and median prices, absorption rate/inventory, average sale price/list price ratio, number of home sold versus unsold, and more, but you should find out what these statistics mean for you, the buyer. What direction are the trends heading, and what are the implications? 

TIP #6: Find out what is going on in the area with short sales, pre-foreclosures and REOs (bank owned properties). These may be the type of homes you are interested in, or perhaps the bulk of what is in your budget and market, and your should know what is selling, what is not, prices, and so on. And these should be factored into your thinking about an offer on the home you are interested in, even more so if that home is not a distress sale. These homes (if sold) can impact your appraisal in a negative way. They also may color your thinking about the area you are considering, so you should understand that this potentially means.

TIP #7: Data are important but they are not the end all/be all and you should not make a decision based solely on numbers. For the typical home buyer (not investors), statistics should be just a part of the picture, and you should evaluate ALL the information at your disposal before making an informed decision about your home purchase and the offer you wish to make.

As a savvy buyer, you will want to make decisions based on a wealth of information, statistical as well and more qualitative. Some buyers simply make offers based on whatever low figure they feel makes sense, but many times this simply leads nowhere. There is a fair amount of competition out there, especially for the distress homes, so ignoring the data will likely lead to disappointment. It IS your decision as to what you feel is a reasonable offer, but then there are always the consequences.

If you would like more customized information about the Carlsbad real estate market, or other communities nearby, please let me know. You can read the recent Carlsbad market report, with a link to prior reports, here.

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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits