Escondido Real Estate Market Report for July 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 July 2011 there were 157 homes sold in the Escondido real estate market, up by 6% from June sales. Here’s the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold |
157 (up 6%) |
136 (up 7%) |
21 (no change) |
|
Average $ |
$326,031 (up 2%) |
$358,255 (up 3%) |
$117,345 (down 16%) |
|
Days on Market |
69 |
72 |
50 |
|
Sale Price/List Price |
97% |
97% |
98% |
There were 220 Escondido homes (27% 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 July 2011 there were 828 Escondido homes for sale, just 5 fewer homes than in June (down 1%). This represents an inventory of 2.9 months for attached homes (down from 3.1 months in June) and 6.3 months for detached homes (down from 6.8 months in June), based on the current rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In July 186 homes came on the market, down 29% from June, perhaps not unusual given the time of year; the number of homes going pending declined again, by 8%, to 147 from 159 in June.
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
READ MORE:
Escondido Homes for Sale | Escondido Real Estate Market Report for June 2011
Escondido Homes for Sale | Escondido Real Estate Market Report for May 2011
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
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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com
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Great post and for sure, you will sell a lot in this area.
Well done market report Jeff.
Wow that seems like an awful lot of homes sold in one month? I hope lots of them werre yours Jeff !
If I had to put my finger on an Escondido trend, it would be more listings at the higher end for distressed properties.
Jeff:
It appears by these statistics that homes are being priced right, if they sell for 97% of asking. You must have very reasonable sellers.
Jeff, the report is spot on and your days on market are enviable for other parts of the country!