10/06/2020
METRICS GO POSITIVE IN FALLBROOK
AND BONSALL REAL ESTATE MARKET
Charts and data provided by CRMLS and 10K InfoSparks
FALLBROOK, Calif., Oct. 6, 2020 --- September real estate prices and volumes continued on a torrid pace as the summer selling season showed no sign of abating in Fallbrook and Bonsall, Jerry Kalman, a realtor® here with HomeSmart Legends, said today.
September 2020 selling prices at $708,000 were even with last month and 16 percent better than September 2019 levels, he said. With a volume of 100 units in September, the local market was comparable with August and 41 percent better than September of 2019.
According to Kalman, the depleted active inventory recovered somewhat to 96 units. During the month, 50 came off the market while 46 were a new-listings-offset.
The average asking price for all homes in that active inventory was $1,126,000, which reflected the top-heavy nature of the local market.
Entering October, he said 123 homes were in escrow, a number that is well above seasonal levels for this time of year. The average market time for those listed as pending finally rose, hitting 54 days.
As a further reflection of the soaring market, almost two thirds of the homes sold at prices equal to or greater than the original listing prices, he reported.
At the high end, 12 homes priced over one million dollars closed escrow in September, nine of them were in Fallbrook; and they averaged less than two months on the market. Another 15 were in escrow entering October with a three-month average market time.
Eight condos sold in September, seven were in Fallbrook, and they averaged 18 days on the market. He said that four attached properties are in escrow, all in Bonsall. Four condos were in the active inventory at the end of September, three in Bonsall. Their average time on the market was 26 days.
“Average price per square foot helps realtors value homes in diverse real estate markets like Fallbrook and Bonsall,” he said. “At an average of $302 per square foot in September, sold properties in the local market were up four percent. In Bonsall, the average rose to $303 while Fallbrook dipped slightly to $301 per square foot. The county-wide San Diego average rose from $441 to $445 per square foot.
Kalman´s data for the reporting periods ending September 30, 2020, and reported by Oct. 6, 2020, came from CRMLS, a regional multiple listing service for area realtors. This report 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. DRE # 01328697) in the North County office of HomeSmart Legends, 701 S. Main, Fallbrook, at (760) 468-4689 (voice or text) or [email protected].
HomeSmart, founded in 2000, now has more than 18,000 agents and broker associates in almost 30 of the states in the US. HomeSmart Legends, the first franchise in the HomeSmart system, is located at 41823 N. Enterprise Circle, Suite 130, Temecula, CA 92590.
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