Escondido Real Estate Market Report for January 2011
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 in order to 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 January 2011 there were 113 homes sold in the Escondido real estate market, a decline of 24% from December. Here's the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold
|
113 (down 24%) |
81 (down 36%) |
32 (up 45%) |
|
Average $
|
$299,330 (down 7%) |
$361,910 (up 1%) |
$140,426 (up 11%) |
|
Days on Market
|
78 |
87 |
54 |
|
Sale Price/List Price
|
99% |
99% |
99% |
There were 180 Escondido homes (24% 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 January 2011 there were 762 Escondido homes for sale, 5% more than in December. This represents an inventory of 4.7 months for attached homes (up from 4.6 months in December) and 5.8 months for detached homes (up from 5.3 months in December), based on the current rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In January 264 homes came on the market, almost double the number in December (up 93%) but in contrast 123 homes went pending, a decline of 9% over December pendings.
I am happy to provide you with 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.
READ MORE:
Escondido Homes for Sale | Escondido Real Estate Market Report for December 2010
Escondido Homes for Sale | Escondido Real Estate Market Report for November 2010
Escondido Homes for Sale | Escondido Real Estate Market Report for October 2010
Escondido Homes for Sale | Escondido Real Estate Market Report for September 2010
Escondido Homes for Sale | Escondido Real Estate Market Report for August 2010
Escondido Homes for Sale - Escondido Real Estate Market Report for July 2010
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