San Diego Real Estate Update - Escondido - Hidden Meadows - November 2024

Demand is looking pretty strong in Escondido's Hidden Meadows neighborhood. Let's take a look at that over the next few minutes. If you're new to this channel, please remember to hit that like button and subscribe so you don't miss any of these updates. Today we are bringing you a Hidden Meadows real estate market update by special request just received this week. So we try to turn these special requests around very very quickly and we are really drilling down into Escondido's 92026 zip code today to look at the Hidden Meadows neighborhood actually north of the Escondido city limits but within that zip code part of the Escondido school system so generally considered to be Escondido. Let's jump right into the numbers. When we look at what's going on right now we see there are 18 active listings we have six pending listings so not quite two to one there but this is pretty typical of most areas most zip codes right now more active than pending although when you look at what has sold in the last 30 days there have been 11 so really not that many more listings than the current level of demand would indicate. Let's jump over here to the Info Sparks graphic and take a look at the longer term trends. Now when we look at median price all the way back to January of 2021 Hidden Meadows was 731 San Diego County 644 so we're starting out in 2021 over the San Diego County median and then jumping up in October of 2021 to 1.24 million. Now housing types out here are not at all like Southern California tract neighborhoods a lot of custom homes a lot of different little pockets so you are going to see a lot of variability in this median price data also not a lot of data points because we're talking about a fairly small area however you can see what is happening in general. Now when you look at where everything in San Diego County almost everything peaked in 2022 Hidden Meadows was at 908,000 and then we have seen a lot of peaks and valleys since then the highest peak is 1.53 back in November of 2023 currently looking at 999,000 so it has been up and down and again we're looking at not so many data points so the data tends to be more jagged. Now let's look at what I consider to be a metric that's a little more indicative of what's going on in the market at least as it relates to buyers and sellers just well not just like everywhere else so San Diego County was at 106.7 percent of original list price to final closed sale price in April of 2022. Hidden Meadows was down at 101.8 and really didn't peak until June of 2022 which is interesting because this is right where interest rates really took their jump up and folks were still bidding over by a hundred and by 6.3 percent in the summer of 2022 and then of course a lot like everywhere else it plummeted down to 90.9 by August of 2022 it's been up and down since then however the lowest list to sale price ratio was this year in February looking at 89.5 percent so that again not a not a ton of data points here so there could have been one or two listings that just sold way below original list price pushing that down the average tends to be looking a lot closer to a hundred percent although since May of this year it has been going down looking at a low of 91.4 in June currently sitting at 94.9 and the San Diego County average over the last 20 years tends to be in the 96 to 97 percent range so list to sale price ratio is a little depressed up there in Hidden Meadows right now so if you're a seller going on the market you need to price intelligently so you can get on the higher end of this curve but in general you can expect that you're going to get 94.9 essentially 95 percent of your original list price given what's going on on average now when we look at market times we see that Hidden Meadows is currently at 33 days San Diego County at 37 so the average market time in Hidden Meadows is a little lower than San Diego County and this again is true across the board right now homes are taking a little bit longer to sell and that is because demand for homes in San Diego County over the last several years has remained very very steady and currently there are more homes on the market in San Diego County than we've seen in the last three years so with demand being the same and supply being a little higher we are going to see longer market times a lower list to sale price ratio and one would expect to follow with lower median prices although the last couple of months in San Diego County that's been up when we look at Hidden Meadows it's been up and down although I suspect again due to a small amount of data we're seeing a lot more variability in that in the Hidden Meadows data so that's what's going on in Hidden Meadows right now if you like this content please remember to like share subscribe and comment and if you have a home that you want to sell in this area please send us a message give us a call we know what's going on we know how to get your home sold for top dollar so send us a message give us a call we can help with that I will say see you later have a great day and we will talk to you soon