Tuesday, 12 December 2017

NORTH SAN DIEGO COUNTY REAL ESTATE PRICES UP WHILE VOLUME AND OTHER METRICS POINT TO A SOFTENING MARKET

Written by Posted On Monday, 30 November -0001 00:00
Average selling prices for homes in Fallbrook, Bonsall and San Diego County Average selling prices for homes in Fallbrook, Bonsall and San Diego County Sandicor and 10KInfoSparks

NORTH SAN DIEGO COUNTY REAL ESTATE PRICES UP WHILE VOLUME AND OTHER METRICS POINT TO A SOFTENING MARKET

 Market Time Stretches Out

 

FALLBROOK, Calif., September 6, 2017 --- Home prices rose while other metrics revealed slowing real estate activity in two prime North San Diego County housing markets, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.

“There was some heavy discounting, particularly among properties that languished on the market.  About one fourth of the 63 sales in August were equal to or better than the original asking price,” Kalman said. “All but one of those that sold at a premium price went into escrow within 30 days of when they were listed.”

Market times for properties remaining on the market as well as for those selling expanded in August.  Time on the market for those entering escrow remained at an average of 53 days while the time to sell soared almost 100 percent from July as the days on market reached two months.

According to Kalman, 77 homes came off the market in August, bringing the total at month-end to 99 units in escrow, which continued a pattern of month-to-month declines beginning in the peak month of June.  In August, the average listing price of those off the market dipped marginally to $666,000. 

The inventory for both detached and condo-styled homes decreased also, dropping to 227 properties.

“Declines such as these are part of a seasonal pattern most real estate markets experience heading into the end of the year,” Kalman noted, “and should not be construed as the onset of a major correction.”

Once again, two thirds of the activity was financed with conventional mortgages.  VA/FHA transactions dropped to 17 percent of the activity while cash buyers in Fallbrook and Bonsall represented 18 percent of the transactions.  Time on the market for both VA/FHA and cash transactions started to stretch out in August.

According to Kalman, the average selling price per square foot in these two communities, an important metric used as a rough starting point on setting values because of the diverse nature of homes here, slipped five percent to $257.  Bonsall dropped to $270 per square foot while Fallbrook dropped to $244.  The San Diego County average was up a tick to $379 per square foot.

Three high-end homes, all in Fallbrook, closed escrow in August, and all of them were conventional transactions with a surprisingly low average of $233 per square foot.   Nine more, five in Bonsall, are in escrow.  There are 57 of these million-dollar-plus properties on the market, once again one fourth of the active listings.  Most of them are in the larger community of Fallbrook. 

In August, seven condos, four in Bonsall, sold after an average market time of 17 days.  Six condos, four of them in Fallbrook, were in escrow with an average market time of just over a month.  Entering September, 14 condos were on the market, eight in Fallbrook. 

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

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.