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Real Estate Market Wamrs As Inventory Grows in Spring Surge

North San Diego County Real Estate Remains Active With Increase in Prices


FALLBROOK, Calif., May 6, 2014 --- April real estate activity in North San Diego County was bolstered by a surge in inventory as prices remained firm despite a decrease in volume, Jerry Kalman, a realtor® with HomeSmart Real Estate, reported today.

Comparing April real estate activity in Bonsall and Fallbrook with prior periods, the average selling price of $535,000 was three percent higher than March and three percent better than April 2013.  Volume was off 28 percent from April of the prior year and only nine percent  better than March.  Overall, April selling prices were nine percent lower than original asking prices; and, in the current period, 23 percent of the homes sold at or above the original asking price.

Entering May, the single-family residential inventory  rose 18 percent to 258 properties.  Based on April results, the market currently has a four-month supply of homes.

In April, 59 homes came off the market, bringing the total of those in escrow to 85 properties, a slight increase over the prior month.  The average asking price of those in escrow was $561,000, or $235 per square foot.

The average time on the market for homes that sold here was 56 days, however, those in escrow averaged 43 days on the market.

Homes priced at the high end of the market continued to perform well as five properties sold for more than a million dollars.  Five homes, three in Bonsall, were in escrow and another 63 were on the market.

Meanwhile, five condominium-styled homes sold in April with an average price of $334,000, or $210 per square foot.  Three of those that sold were in Fallbrook.  Ten condo-styled homes remained on the market, five in each community, with an average asking price of $201 per square foot.

Comparing Bonsall/Fallbrook with other North San Diego County markets, Kalman said that homes here sold for $214 per average square foot, below the $321 in Carlsbad, $265 in Oceanside, $250 in San Marcos, $244 in Vista, and $237 in Escondido, but above the $211 in Valley Center.

Kalman´s data for the reporting periods ending April 30, 2014, 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 7700 agents and broker associates in 66 offices throughout 13 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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Jerry Kalman

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Source:Jerry Kalman
Location:Fallbrook - California - United States
Industry:Mortgage, Real Estate
Tags:san diego, Real Estate, jerry kalman, homesmart, homes
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