Monday, 11 December 2017

NORTH SAN DIEGO COUNTY REAL ESTATE SCORES SOME GAINS DESPITE THIN NUMBER OF PROPERTIES ON THE MARKET

Written by Posted On Monday, 06 March 2017 15:31
Average sales price per real estate transaction in Fallbrook and Bonsall Average sales price per real estate transaction in Fallbrook and Bonsall Sandicor Inc. and 10K InfoSparks

NORTH SAN DIEGO COUNTY REAL ESTATE SCORES SOME GAINS

DESPITE THIN NUMBER OF PROPERTIES ON THE MARKET

Inventory Remains at Perilously Low Level

FALLBROOK, Calif., March 6, 2017 --- February real estate activity levels in two prime North San Diego County markets were distorted by the dearth of properties on the market, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.

Kalman reported that the inventory slipped to 162 units entering March as twice as many properties came off the market and went into escrow than there were new listings.  Most notable, he said, is the slimmest of pickings in condos where only three are on the market.

Two high end homes, both in Bonsall, closed escrow in February after an average of four months on the market.  Eight more, four in each community, are in escrow; and there are 54 of these million-dollar-plus properties on the market, 70 percent of them in Fallbrook. 

Looking at homes coming off the market in February, an indicator of future activity, 100 homes were in escrow, a 25 percent bump over January.  The average price of those off the market dipped slightly from January to $623,000. Time on the market for those entering escrow remained steady at just under two months.

He estimated that the rush to escrow appears to have been prompted by the outlook for interest rate increases coming in the early months of the year.  Cash buyers represented 17 percent of the February transactions while VA/FHA transactions accounted for 35 percent of the activity once again.

Comparing February 2017 with the same period a year ago, prices were 11 percent higher at $557,000 while volume was off 16 percent.  He noted that the proportion of cash and VA/FHA transactions to conventional was the same in both years.

 “As in January, close to one fourth of the sales were at or above the original asking price,” Kalman said. “This has occurred in each of the last three months, with most of those that sold at or above the listing price went into escrow within a month of when they were listed.”

He reported that the average selling price per square foot in the two communities, an important metric used here to price homes, soared 19 percent to $294, with Bonsall rising to an average selling price per square foot of $360, a 55 percent gain over January, attributed largely to a pair of high end homes representing half the volume there.  Fallbrook dropped almost three percent to an average of $228 per square foot per home, and that conversely reflected the absence of high-end activity last month.  Four condos sold in February, three in Fallbrook.  Seven more condos were in escrow, five in Fallbrook.  Only three condos were on the market entering March, two of them in Bonsall.  The average market time for those condos in the active inventory was more than six months with an average price tag of $325,000.

Kalman´s data for the reporting periods ending February 28, 2017, came from Sandicor, Inc., the area's multiple listing service for realtors.  It 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. BRE # 01328697) in the North County office of HomeSmart Legends, 701 S. Main, Fallbrook, at (760) 468-4689 (voice or text) or This email address is being protected from spambots. You need JavaScript enabled to view it..

HomeSmart, founded in 2000, has more than 10,000 agents and broker associates in offices throughout 15 states.  HomeSmart Legends is the first franchise in the HomeSmart system.  The Temecula office is located at 27645 Jefferson Ave., Suite 116, Temecula, CA  92590.

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Jerry Kalman

 

Jerry Kalman

 

California BRE #: 01328697

 

Realtor (California BRE #: 01328697)

 

HomeSmart Real Estate North County

 

 

 

            Jerry Kalman, an area resident for 15 years, is committed to community service.  He is an active member of the Fallbrook Community Planning Group’s Land Use and Design Review committees as well as the Acquisitions Committee of the Fallbrook Land Conservancy.  He is also a member of Brandon Gallery, a local artist's cooperative in Fallbrook, and is a docent for The Museum of Photographic Arts in Balboa Park (San Diego). 

 

Kalman is a customer service professional with more than 30 years of experience working with Business-to-Business and consumer clients, the past 13 of them as a realtor specializing in the Fallbrook/Bonsall area of North San Diego County.  He joined HomeSmart Real Estate in 2013 when that firm assumed the practice of The Jacques Company, a realty in North San Diego County.  When first starting in real estate, he was with Prudential California Realty and then RE/MAX; both offices were in the Fallbrook/Bonsall area.  Since becoming a realtor, he was named Rookie of the Year by Prudential California Realty in the Bonsall office and Realtor of the Year by the local district of the North San Diego County Association of Realtors.

 

            Prior to earning his real estate license, Kalman was a marketing and communications consultant, specializing in Internet and technology-based companies.  He moved to consulting after a series of management positions in several Fortune 1000 companies.  His firm, Kalman Communications, had two offices, one in West Los Angeles and the other in San Francisco, before he merged his practice into Ogilvy Public Relations.  His client-base included many publicly held companies as well as US subsidiaries of well-known Japanese electronics companies.  When the Internet took off, he shifted his focus to helping dot coms position themselves in the marketplace.  Kalman co-founded the Software Council of Southern California, a trade group in Los Angeles.

 

            As an accomplished professional fine art and architectural photographer, he has won several regional and international awards for his digital images.  His work appears locally at the Brandon Gallery in Fallbrook and on Pinterest as well as on a website: www.kalmanphotos.com.

 

            A prolific writer, he has authored a dozen books and co-authored one of the first Internet text books: "Internet Commerce Metrics and Models", Prentice Hall.  He used that text in e-commerce courses he taught at the University of California (San Diego, Riverside and Irvine campuses) and at the Singapore Institute of Management.  Kalman has a Bachelor of Science degree in journalism from the University of Illinois (Champagne-Urbana) and was a post-graduate student in film and television production at the University of Denver.  He served as a lieutenant in the US Navy during the Vietnam War.

 

www.jerrykalman.com

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