San Diego Real Estate Update - Escondido - December 2024

While activity in many zip codes has slowed down, Escondido is booming this holiday season. Hang out with me for a little bit and I'll show you what's going on. Today we are bringing you an Escondido real estate market update. If you're new to this channel, please give us a like and subscribe so you don't miss any of these updates. Drop your zip code in the comments if you want us to get to you next. Without any further ado, let's check out what's happening right now in Escondido. We have 340 active properties in the city of Escondido, and we could carve this up any number of ways. And if you'd like to see us drill down on certain neighborhoods, which we have certainly done before, let us know. Right now we're doing the whole city overview. 340 active properties, 169 currently pending, which is interesting because there were only 112 sold in the last 30 days. So the 169 pending shows a pretty significant uptick in activity. Escondido is definitely a median or below median price area. So Escondido is definitely a median or below median price area. So lots of first time buyers snapping up those holiday bargains. Let's check out the longer term trend here. When we look at median sale price in Escondido, we can see that it is indeed typically below the San Diego County median. Back in January of 21, it was 645. By May of 2022, it was 957. And it has come up quite a bit since then. August of 23, a million 155. April of this year, 1.155 million. Currently at 1,040, which again, just below the San Diego County median. Looking at the percent of original list price to final closed sale price, no surprise here. Escondido looks just like San Diego County and much like many, many other zip codes. The peak of buyer excitement was way back in the spring of 2022, and it has never returned to those levels. Currently looking at 98.8% of original list price to final closed sale price on average, which is not bad. 98% of original list price, not bad at all. And very typical. If you look at San Diego County historically, market times, however, way up in Escondido right now. And that is because there are way more properties on the market than properties under contract. So there's a lot of those listings that are stacking up market time and pulling that average up to 45 days. So that's what's going on Escondido right now. If you like this content, please remember to like, share, subscribe, and comment. We will be back soon with more great real estate information. So subscribe and don't miss any of these shows. We will be back soon. So have a great day and we'll talk to you later.