April Real Estate In North San Diego County

FALLBROOK, Calif. - May 12, 2013 - PRLog -- FALLBROOK, Calif., May 13, 2013---April real estate sales activity surged forward in North San Diego County as demand for single family residences continued to improve, Jerry Kalman, a realtor® with HomeSmart Realty, reported today.
"The average April selling price in Bonsall and Fallbrook of $523,000 represented a 12 percent increase over March and a whopping 53 percent increase over April 2012.  Once again, most of the April transactions were traditional sales," he said.

Despite some isolated instances of extreme discounting, the difference between original and selling prices narrowed during April as selling prices dropped by an average of seven percent from those at the original listing.  One third of the properties sold either for the original asking price or above; and the average time on the market for those that sold dropped to 69 days.

The single-family residential inventory rose to 183 as sellers put more listings on the market to take advantage of increased demand.  Based on April results, the market has less than a three-month supply of homes.  The average asking price of the inventory is $874,000 or $250 per square foot entering May.

Meanwhile, the number of homes in escrow dropped to 97 properties as 65 came off the market in April.  The average asking price of those in escrow May 1 decreased to $546,000, or $217 per square foot.

At the high end, five homes, three in Fallbrook, sold for more than a million dollars.  Eight homes with an asking price of one million or more are in escrow and another 50 are on the market, carrying an average asking price of $326 per square foot.

Four condos sold, two in each community.  Eight condominiums were in escrow, five in Bonsall, and four were on the market.

Comparing Bonsall and Fallbrook with other North San Diego County markets, Kalman said that homes that sold here in April were at $195 per average square foot compared to $294 in Carlsbad, $230 in Oceanside, $225 in San Marcos, $212 in Vista, $205 in Escondido and $193 in Valley Center.

Kalman´s data for the reporting periods ending April 30, 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 (Calif. DRE # 01328697) based in the Fallbrook office of HomeSmart Realty.  Reach him at (760) 468-4689 or jerry@jerrykalman.com.

HomeSmart, founded in 2000, has 7200 agents and broker associates in 39 offices throughout eight southwestern states and two countries.  HomeSmart Realty of California is the first franchise in the HomeSmart system and is now one of 14 territories in the state.  The Temecula office is located at 27645 Jefferson Ave., Suite 116, Temecula, CA  92590.