Saturday, 16 December 2017

LOW INVENTORY CONTINUES TO AFFECT REAL ESTATE PRICES AND DEMAND IN NORTH SAN DIEGO COUNTY

Written by Posted On Friday, 05 May 2017 15:08
Average selling price for homes in Fallbrook and Bonsall in April Average selling price for homes in Fallbrook and Bonsall in April Sandicor and 10KInfoSparks

 Time on the Market Nears 30 Days

 FALLBROOK, Calif., May 5, 2017 --- High seasonal demand and a thin inventory drove real estate prices up again in Fallbrook and Bonsall, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.

April average prices at $602,000 were 12 per cent better than April of 2016 and three percent higher than March.  In April, homes took 37 days or 21 percent less time to sell than a year earlier.

“One third of the 79 sales were at or above the original asking price,” Kalman said. “Many of those that sold at or above the listing price went into escrow within a couple of weeks when they were listed.”  

Cash buyers represented 19 percent of the transactions once again while VA/FHA transactions increased to 29 percent of the activity versus 35 percent recorded back in February.

Despite what he termed a “near-buying frenzy” the inventory improved to 202 units entering what he forecast would be a very busy May. 

Five high end homes, four in Fallbrook, closed escrow in April with one selling at the original listing price.  Nine more, six in Fallbrook, are in escrow.  There are 59 of these million-dollar-plus properties on the market, two thirds in Fallbrook. 

In April, 74 homes came off the market, an indicator of future activity, bringing the number of homes in escrow to 108.  The average price of all those off the market declined to $648,000 as many entry-level properties were snapped up by eager buyers; and the time on the market for those entering escrow dipped to an average of 49 days.

Kalman said the average selling price per square foot in the two communities, an important metric used to price homes, was $263, with Fallbrook and Bonsall up four percent in April over March.

Seven condos, five in Fallbrook, sold in April.  Five more condos were in escrow, three in Bonsall.  Fourteen condos were on the market entering May, ten of them in Fallbrook.  The average market time for those condos in the active inventory was under two months.

Kalman´s data for the reporting periods ending April 30, 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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