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Escondido Real Estate Market in October 2020
It’s important for buyers and sellers in the Escondido housing market to understand recent trends and current local market conditions in order to make informed decisions about buying and selling Escondido homes for sale.
The following data are taken from the MLS (private sales are not included in these statistics, nor are multifamily properties, or mobile and manufactured homes). The data are believed to be reliable at the time this report was written but are not guaranteed.
A total of 199 homes sold in October, just 3 fewer than last month. Here’s the breakdown of activity.
Single Family Homes Sold
157 (down 11%); Average Sales Price $693,175 (down 3%); Average Sales Price was 100% of original asking price
Condos, Townhomes & Duplexes Sold
42 (68% more); Average Sales Price $366,111 (down 1%); Average sales price was 99% of original asking price
Overall home sales in October dropped slightly, with fewer single family homes sold but substantially more condos, townhomes and duplexes. The average sales price was modestly lower for single family homes, and lower for condos, townhomes and duplexes compared to last month. Sales prices ranged from $180,000 to $1,680,000.
Some buyers were able to negotiate some off the original list price, but well over half of the home buyers (67%) paid full price or more for their homes, no doubt due to multiple offers. Many buyers made quick decisions, with almost half (47%) of the homes going pending in 1 week or less!
The MEDIAN sales price of the detached homes sold was $670,000 (up 2%), and $367,500 (down 1%) for attached homes compared to last month.
There were 17 Escondido homes on the market with an Active Under Contract status compared to 11 last month. 1 is short sale. These are included in the statistics below.
At the end of October there were 179 homes for sale in Escondido, 8% more than last month, another increase and good news for buyers. This represents an inventory of 1.2 months for condos, townhomes and duplexes (up from less than a month in September), and 25 days for detached homes (just slightly better than last month), based on the current rate of sales over the last 3 months. Escondido remains a very strong seller’s market.
In October 197 homes came on the market, 10% fewer than in September, but still good news for buyers with an average of more than 6 new listings per day. The number of homes going pending dropped slightly in October, from 189 to 186 (down 2%); both buyers and sellers were busy in the Escondido housing market in October.
I am happy to provide more information about current real estate activity in the Escondido real estate market, specific zip codes, and neighborhoods that interest you, and answer your questions about the current market conditions, as well as to assist you with the purchase and/or sale of a home in Escondido.
Please contact me at (760) 840-1360 so we can find a convenient time to discuss your personal housing needs, lifestyle, and budget, then plan a strategy for you to buy your new Escondido home in 2020!
And if you are planning to sell your Escondido home, I will provide you with a market value and equity analysis, and discuss your timing and plans so we can create the best strategy to get your home sold quickly and for the best price, terms and conditions.
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If I can provide more information about homes for sale in Carlsbad and in surrounding areas, local housing market conditions, or assist you, friends or family in a purchase or sale, please call or text me at (760) 840-1360, or email me at JeffDowlerSolutions@gmail.com
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