Translate this page

Local real estate activity remains strong


Thursday, September 12th, 2013
Issue 37, Volume 17.
You need Flash player 8+ and JavaScript enabled to view this video.


FALLBROOK –. Real estate sales activity was strong again in North San Diego County as entry-level and mid-range homes continued to spark demand for single family residences, Jerry Kalman, a Realtor® with HomeSmart Real Estate, reported last week.

Average August selling prices in Bonsall and Fallbrook of $494,000 were four percent lower than July, but 21 percent better than August 2012. Despite some extreme discounting, the difference between original and selling prices was six percent in August. Meanwhile, more than 30 percent of the homes sold at or above the original asking price.

"While most of those that sold at the market price or above had a short time on the market, several had relatively long periods when they languished before selling. The average time on the market decreased to a year-low of 49 days in August," he said.

The single-family residential inventory rose again, reaching 279 entering September. Based on August results, the market has more than a six-month supply of homes. The inventory has an average asking price of $813,000 or $258 per square foot.

The number of homes in escrow was 94 properties as 67 came off the market in August. The average asking price of those in escrow increased to $539,000, or $220 per square foot. He noted that a slower pace of activity often begins to occur in August and runs through the remainder of the year.

At the high end, two homes, both in Fallbrook, sold for more than a million dollars; and their average time on the market was 86 days. Five homes with an asking price of one million or more are in escrow and another 67 are on the market with an average asking price of $339 per square foot.

Four condos sold, two in each community, at an average selling price of $269,000. Four condos were in escrow, three in Fallbrook; and six more were on the market, five in Bonsall.

Comparing Bonsall/Fallbrook with other North San Diego County markets, Kalman said that homes here in August sold for $211 per average square foot compared to $316 in Carlsbad, $244 in Oceanside, $239 in San Marcos, $238 in Vista and $216 in Valley Center.

Kalman´s data for the reporting periods ending Aug. 31, 2013, came from Sandicor, Inc., the area’s multiple listing service for realtors. It represents properties listed or sold by various brokers in San Diego County. He uses this information to analyze the market and provide professional insight into real estate dynamics and trends as a community service.

Jerry Kalman is a licensed Realtor based in the North County office of HomeSmart Real Estate, 701 S. Main, Fallbrook. To learn more about buying or selling in today’s market, call HomeSmart at (760) 451-1600.


 

0 comments


arrow Be the first to share your opinion on this article!
 

Add your Comment


Name

Images, Formatting, or HTML is not allowed : plain text only. You may post up to 5 website addresses within your comment.




Disclaimer

The Fallbrook Village News has tightened its' policy regarding comments.
While we invite you to contribute your opinions and thoughts, we request that you refrain from using vulgar or obscene words and post only comments that directly pertain to the specific topic of the story or article.
Comments that are derogatory in nature have a high likelihood for editing or non-approval if they carry the possibility of being libelous.
The comment system is not intended as a forum for individuals or groups to air personal grievances against other individuals or groups.
Please, no advertising or trolling.
In posting a comment for consideration, users understand that their posts may be edited as necessary to meet system parameters, or the post may not be approved at all. By submitting a comment, you agree to all the rules and guidelines described here.
Most comments are approved or disregarded within one business day.

RSS FeedFacebookTwitter



Advertisement for Fallbrook Healthcare Partners





Subscribe




Most Commented


Reach Local Customers



The Fallbrook Village News The Fallbrook Village News
760-723-7319 - 1588 S. Mission Rd. Suite 200, Fallbrook CA 92028
All contents copyright ©2014
About Us
Earthquake Information
Business Listings
Contact Us
Letter to the Editor
Report a website error
Sitemap
Online Digital Edition
RSS Feeds
Login