Pace of Real Estate Activity Remains Strong in North San Diego County Market

July 4, 2015 - PRLog -- FALLBROOK, Calif., July 5, 2015 --- June real estate activity in two prime North San Diego County markets remained strong as properties entering escrow foretell of slight price increases in the coming months, Jerry Kalman, a realtor® with HomeSmart Real Estate here, reported today.

With a nine percent bump over June 2014 levels, the average Fallbrook and Bonsall selling price of $546,000 per home reflected an increase in activity across the entire spectrum of homes from condos through million-dollar-plus properties.  Volume was 24 percent better than in June of 2014, but roughly even with May.

As an indication of increased demand, 21 percent of the homes in June sold at or above the original asking price.  Conventional transactions accounted for more than half of the activity as 17 percent of the June transactions were for cash.  Another 21 percent of those that sold were under VA/FHA contracts.

The average selling price per square foot, an important metric of pricing, remained in the two communities at $221.In June, it took 62 days on average for homes to sell while on the market, which was slightly more than in May and comparable to the rate for the entire first half of the year.

Entering July, the residential inventory neared its highest level for the year as 324 properties were available, a ten percent increase the beginning of June, he noted.  The market currently has just over a four-month supply of homes, the same as May.

During June, 70 homes here came off the market, while the number of homes in escrow dropped again to 100 properties.

At the high end, six homes sold, three in each community, with an average market time of 99 days.  Another 69 homes were in the active inventory and five more, three in Fallbrook, were in escrow.

Nine condominiums sold in June, four in Bonsall, with an average price of $285,000.  Meanwhile, 11 condos were in escrow, six in Bonsall; and 14 were active listings on the market, eight of them in Fallbrook.

Year-to-date vs. 2014

Comparing the first half of 2015 with 2014, Kalman said that volume and prices through June 30 of the current year showed increases over the prior year.  The average selling price of $555,000 was nine percent better than in the first six months of 2014 and volume was 11 percent better at 377 properties.  Market time, however increased from an average of 53 days last year to 63 days in 2015.

Kalman´s data for the reporting periods ending June 30, 2015, came from Sandicor, Inc., the area's multiple listing service for realtors.  It represents properties listed or sold by various brokers in the region.  He uses this information as a community service to analyze market trends and provide professional insight into real estate activity.  Kalman is a licensed realtor (Calif. BRE # 01328697) in the North County office of HomeSmart Real Estate, 701 S. Main, Fallbrook, and can be reached at (760) 468-4689 or jerry@jerrykalman.com.

HomeSmart, founded in 2000, has some 8000 agents and broker associates in 70 offices throughout 14 states and two countries.  HomeSmart Real Estate of California is the first franchise in the HomeSmart system.  The Temecula office is located at 27645 Jefferson Ave., Suite 116, Temecula, CA  92590.