San Diego Real Estate Update - Escondido - November 2024

The number of new listings in Escondido has come down slightly over the past 30 days while pending sales have remained flat. Hang out for the next few minutes and I will show you what's going on today is November 19 2024. And this is an Escondido real estate market update. If you're new to this channel, please remember to like, share, subscribe and comment. Let us know where you're watching from. And if you'd like to see us do your zip code next. Or if you have a property in San Diego County that you want to buy or sell, send us a message or give us a call. We know your zip code and we know the numbers. So let's get right into those numbers in Escondido. Right now we are looking at 361 active properties on the market. Last month it was up closer to 390. So less people have put homes on the market over the last 30 days, which is fairly typical this time of year, although, and people always say this is isn't this just due to the seasonality and partially yes, but look at this. When we look last month, there were 180 pending. And right now there are 178 pending, which indicates that the level of buyer activity has remained very constant, despite the fact that we're heading into winter. So not at all a bad thing to put your home on the market, November, December, because the buyers are still out there. And those buyers that are out there are likely more serious than the ones that are kicking tires in the summertime. Now looking at sold properties, there have been 128 of those over the last 30 days. And yes, we're looking at the entirety of Escondido, the city of Escondido here, versus carving that up into smaller chunks, which of course, you could do this is a fairly high level overview. If you want us to drill down onto your neighborhood, your zip code, let us know we can either make a video and put it out for everybody. Or if it's a smaller area, we can just send you a customized report. So let us know if you'd like to see that. Now looking at the longer term trends in Escondido, when we look at median price, back in January of 2021, Escondido was at 645. And below the San Diego County median at that time, and has remained. So in the spring of 2022, when things were going crazy, it shot up to 957,000. And we've had a couple of peaks, well over a million here in August of 23. And then again, in April of this year, and then median price has gone down pretty sharply between April and September. And then here in 2023, between August and January and December, January. So the last couple of years Escondido has had these dramatic rise ups and fall down kind of things. And we are looking at now 882,500, which is up from September to October. So median price has come up just a bit, despite the slight oversupply of properties on the market. And when we check our buyer exuberance graph here, the percent of original list price to final closed sale price, we see that Escondido has pretty much stayed right in line with San Diego County the whole way along. Looking at again, the spring of 2022 is when things were the hottest Escondido was at 107%. And then all the way down to 95.9%. By January of 23. Buyers really stopped coming out, of course, when interest rates jumped the way they did in 2022. And we are currently looking at 98.5% in Escondido, which is just above the San Diego County average of 97.7%. Checking the market time right now, those properties in Escondido that are selling are doing so more quickly than the San Diego County average Escondido is at 25 days, San Diego County at 30 days. So if you want to list a house in Escondido, and know how to be one of those sellers that gets sold within that average market time, send us a message, give us a call. We'd love to talk to you about that. And that's what's happening in Escondido right now. Remember, if you like this content, please like, share, subscribe and comment. Tune in later this week for more great real estate information. We'll be back on Thursday for sure with San Diego market watch everybody's favorite real estate information program. And then on Friday, we will do our live broadcast on YouTube. And we will talk about a little bit about real estate and a whole lot about life in San Diego and what's coming up this weekend, and fun things that you can get out there and do experience in San Diego County. So with that, I will say see you later and have a great day.