Tuesday, 17 October 2017

NORTH SAN DIEGO COUNTY REAL ESTATE INVENTORY ISSUES PERSIST INTO SUMMER AS AVERAGE PRICES INCREASE

Written by Posted On Wednesday, 05 July 2017 18:33
Average Selling Price for Homes in Fallbrook and Bonsall in June Average Selling Price for Homes in Fallbrook and Bonsall in June Sandicor and 10K InfoSparks

Number of Homes in Escrow Also Increases in June

 FALLBROOK, Calif., July 5, 2017 --- Due largely to a persistently thin inventory, home prices in Fallbrook and Bonsall showed a five percent increase over the prior month and an extraordinary13 percent bump over June of 2016, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.

Foretelling the relatively hot market here will continue for at least another month, 81 homes came off the market in June, bringing the number in escrow to 114, which was a slight decrease from abnormally strong May levels  The average price of all those off the market dropped eight percent to $620,000. 

The inventory was flat at 211 units as 95 new properties came on the market in June, a noticeable decline but still well below seasonal averages for Fallbrook and Bonsall. 

Time on the market for those entering escrow rose slightly from 36 to an average of 39 days.  In June, homes that sold took 36 days to sell, a full month better than a year earlier.

“Even though there was some heavy discounting, more than 40 percent of the 100 sales in June were equal to or better than the original asking price,” Kalman said. “Many of those that sold at or above the listing price went into escrow in the first month of when they were listed.”

Conventional Transactions the New Norm

Almost two thirds of all transactions were financed with conventional mortgages.  VA/FHA transactions decreased to 22 percent of the activity while cash buyers in Fallbrook and Bonsall represented only12 percent of the transactions, the lowest level in several months.

He said the average selling price per square foot in these two communities, an important metric used to price homes, rose four percent to $264. Bonsall was up to $272 per square foot while Fallbrook was up slightly to $256.  The San Diego County average rose to $381 per square foot.

Four high-end homes, two in each community, closed escrow in June with three of them selling at or above the original listing price.  Ten more, six in Fallbrook, are in escrow.  There are 71 of these million-dollar-plus properties on the market, three quarters of them in Fallbrook. 

In June, four condos, all in Fallbrook, sold with an average market time of 11 days.  Twelve condos, seven of them in Fallbrook, were in escrow with an average market time of just over a month.  Sixteen condos were on the market entering July, 11 in Bonsall. 

Kalman´s data for the reporting periods ending June 30, 2017, came from Sandicor, Inc., and CRMLS. San Diego and Riverside counties’ multiple listing services for 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. 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.

Rate this item
(0 votes)
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

Search by State:

Realty Times TV

7 Quick And Effective Fall Home Improvement Projects
Watch Video »

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.

Search