Welcome Home San Diego County

Escondido Homes Sold June 2009

Current Market Trends For Escondido, CA  June 2009

Escondido Market Trends June 2009

The last time we looked at the market activity in Escondido was in March of 2009.  

To see how things have changed over the last 3 months, take a look at our article, Escondido Homes Sold March 2009. 

Here you will see a slight upward trend.  Are we now looking past the bottom of the market? 

In the stats shown here, you will see that the Sold Price per square foot has inched up slightly from $160.17 to $170.76 and the average sold price went  from $301,655.00 to $348,329.00.

Another area that is noteworthy is the current active listings.  

This months chart has added a new catagory, CONTINGENT.    This row of information pertains to properties that currently have an offer on them and are waiting for approval by the lender for a short sale. 

They are still active listings, but they are currently in somewhat of a Limbo position, unable to move from active to an actual pending status.  So this shows a more accurate picture of available properties.

Available properties has recently become a very desirable commodity.  With all the activity of late, we are seeing less and less properties available for buyers who are ready, willing and able to pull the trigger. 

When there is a well priced property available, there will be multiple offers submitted very quickly, and your chances of actually aquiring that property can be very slim. 

Your offer needs to be your strongest, highest and best right off the bat.  This is not the market to expect to lowball and work through negotiations to come to an agreement.   A Solid downpayment, solid offer that is at or above the listing price is becoming the norm for these types of properties.

For home sellers, if you were waiting for the market to turn until you listed your home, you might take a look at what your home is worth today, you may be pleasantly surprised.  A property that has no bank involvment such as a short sale or an REO, is becoming verydesirable.  Buyers are tired of jumping through hoops for these bank owned properties or short sales.

If you would like more information on the value of your home, or are thinking about jumping into this now VERY HOT market, give us a call, we are here to help, and we answer our phones!

Pam and Joanna
760-580-1615 and 760-580-1630