North San Diego County Real Estate Prices Firm

By: Jerry Kalman, Realtor
 
FALLBROOK, Calif. - Dec. 9, 2013 - PRLog -- FALLBROOK, Calif., Dec. 9, 2013---November home-prices remained firm while volume slipped in North San Diego County as the market continued to slow down typical at this time of year, Jerry Kalman, a realtor® with HomeSmart Real Estate, reported today.

Comparing November real estate activity in Bonsall and Fallbrook with prior periods, the average selling price of $506,000 was equal to October and 22 percent better than November 2012.  Selling prices were eight percent lower than original asking prices, dragged down by an increasing number of those that experienced extreme discounting.  One third of the homes sold at or above the original asking price as a partial offset to the discounting.

"Many that sold at or above the market price were on the market less than a month,” he said.  “The average time on the market in Fallbrook and Bonsall ticked up to 57 days.

The single-family residential inventory dipped to 225 entering December.  Based on November results, the market has more than a three-month supply of homes.  That inventory of single-family homes carried an average asking price of $787,000, or $251 per square foot.

Entering December 98 homes were in escrow, as 68 came off the market in November.  The average asking price of those in escrow dropped to $529,000, or $232 per square foot.

At the high end, two homes, one in each community, sold for more than a million dollars with an average price per square foot of $351.  Six homes in that segment were in escrow and another 48 were on the market, carrying an average asking price of $314 per square foot.

Four condos closed in November, three in Fallbrook; three were in escrow, two in Bonsall.  Eight units remained on the market, four in each community, with an average asking price of $223 per square foot.

Activity in vacant land or hosting agricultural operations accelerated during 2013, increasing by 50 percent over the first 11 months of 2012.  Entering December, 19 parcels were in escrow, four in Bonsall and 14 in Fallbrook with an average parcel size of six acres.  The average price per acre of those in escrow was $55,000.  Of the 135 active land listings, the average size was nine acres, with an average price $387,000, or $43,000 per acre.

Comparing Bonsall/Fallbrook with other North San Diego County markets, Kalman said that homes here sold for $201 per average square foot compared to $309 in Carlsbad, $261 in Oceanside, $250 in San Marcos, $237 in Vista, $229 in Escondido and $203 in Valley Center.

Kalman´s data for the reporting periods ending November 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.  As a community service, he uses this information to analyze the market and provide professional insight into real estate dynamics and trends.

Jerry Kalman is a licensed realtor (Calif. BRE # 01328697) in the North County office of HomeSmart Real Estate, 701 S. Main, Fallbrook.  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 Real Estate 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.

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Location:Fallbrook - California - United States
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