Escondido Real Estate Market Report for May 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 May 2011 there were 145 homes sold in the Escondido real estate market, a decrease of 3% over April. Here's the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold
|
145 (down 3%) |
114 (up 4%) |
31 (down 21%) |
|
Average $
|
$292,154 (down 2%) |
$335,500 (down 6%) |
$132,754 (no change) |
|
Days on Market
|
77 |
55 |
51 |
|
Sale Price/List Price
|
98% |
98% |
101% |
There were 215 Escondido homes (22% 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 May 2011 there were 994 Escondido homes for sale, a 20% increase in inventory from April. This represents an inventory of 3.6 months for attached homes (up from 3.3 months in April) and 8 months for detached homes (up from 7 months in April), based on the current rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In May 253 homes came on the market, 24% more than in April; the number of homes going pending also saw an increase, up 22% from April pendings to 161.
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.
Search for Escondido Homes for Sale
READ MORE:
Escondido Homes for Sale | Escondido Real Estate Market Report for April 2011
Escondido Homes for Sale | Escondido Real Estate Market Report for March 2011
Escondido Homes for Sale | Escondido Real Estate Market Report for February 2011
Escondido Homes for Sale | Escondido Real Estate Market Report for January 2011
Escondido Homes for Sale | Escondido Real Estate Market Report for December 2010
Escondido Homes for Sale | Escondido Real Estate Market Report for November 2010
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Inventory is growing a bit in your area. We could use some more here as we are so low and hard to find anything right now.
Jeff
Looks like Escondito is really cooking with gas. What a nice market report
Hi Jeff - Here in the Sierra Foothills we also saw an increase in inventory - currently at 15 months up from 13. The number of sales was a modest increase over April also but a small dip in median price. Your report paints a very good picture of your market area. We would love to have a 6 month inventory here! Markets are definitely local.