Tuesday, 17 October 2017

SURGE OF PROPERTIES ENTERING ESCROW ASSURES REAL ESTATE ACTIVITY IN NORTH SAN DIEGO COUNTY WILL REMAIN STRONG HEADING INTO SUMMER

Written by Posted On Tuesday, 06 June 2017 15:08
Average Selling Price for Homes in Fallbrook and Bonsall in May Average Selling Price for Homes in Fallbrook and Bonsall in May Sandicor and 10KInfoSparks

SURGE OF PROPERTIES ENTERING ESCROW ASSURES REAL ESTATE ACTIVITY IN NORTH SAN DIEGO COUNTY WILL REMAIN STRONG HEADING INTO SUMMER

Prices Remain Firm

FALLBROOK, Calif., June 6, 2017 --- Homes entering escrow, a barometer of future activity, showed marked improvement in May foretelling a continued strong summer selling season for North San Diego County real estate, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.

In May, 91 homes came off the market, bringing the number of homes in escrow to 126.  The average price of all those off the market rose to $676,000.  Reflecting strong future activity, the time on the market for those entering escrow dipped 27 percent to an average of 36 days.

May average selling prices at $604,000 were slightly better than May of 2016 and three percent higher than the prior month.  Last month, homes took 40 days or 23 percent less time to sell than a year earlier.

“More than a third of the 75 sales were equal to or better than the original asking price,” Kalman said. “While many of those that sold at or above the listing price went into escrow within a couple of weeks when they were listed, some took a little longer.”  

He said the average selling price per square foot in the two communities, an important metric used to price homes, dipped to $253.

            Cash buyers represented 25 percent of the transactions once again while VA/FHA transactions decreased to 24 percent of the activity, which continued a downward trend since earlier this year when VA/FHA activity peaked.

The inventory had a marginal improvement to 211 units as 116 new properties came on the market in May, still well below seasonal averages for Fallbrook and Bonsall.  This time last year the inventory was 12 percent higher at 240 units.

Seven high-end homes, six in Fallbrook, closed escrow in May with four of them selling at or above the original listing price.  Eleven more, six in Bonsall, are in escrow.  There are 66 of these million-dollar-plus properties on the market, more than 80 percent of them in Fallbrook. 

In May, six condos, four in Bonsall, sold; and the average market time for those that sold was slightly more than two months. Three condos were in escrow, all in Fallbrook.  Fourteen condos were on the market entering June, seven in each community. 

Kalman´s data for the reporting periods ending May 31, 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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