Friday, 15 December 2017

NORTH SAN DIEGO COUNTY REAL ESTATE PRICES DIP WHILE VOLUME REMAINS STEADY ENDING THE THIRD QUARTER OF 2017

Written by Posted On Thursday, 05 October 2017 14:23
Average selling prices for singlae family homes in Fallbrook and Bonsall Average selling prices for singlae family homes in Fallbrook and Bonsall Sandicor and 10K InfoSparks

Market Time Averages More Than Two Months

FALLBROOK, Calif., October 5, 2017 --- Home prices dipped in Fallbrook and Bonsall as the summer months ended and these North San Diego County markets entered the final period of a robust 2017, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.

Paced by a surge in VA/FHA transactions, September 2017 volume was marginally better than both the prior month and September of 2016.  VA/FHA transactions accounted for almost half of the volume in September, and, because many were for entry-level and mid-range homes, they kept average prices flatter in the month.  Cash buyers in Fallbrook and Bonsall once again represented less than one-fifth of the transactions.

More than a third of the transactions were at or above the original asking price, and most of those were for cash or on VA/FHA contracts.

Time on the market for both VA/FHA and cash transactions started to stretch out in September as slightly more than half sold within the first 30 days of appearing on the market while the remainder averaged close to three months before going into escrow.

Overall, time on the market for those coming off the market increased slightly to more than two months while the time to sell also inched up above the 60-day point.

Kalman said that 68 homes came off the market in September, bringing the total at month-end to 106 units in escrow, an increase of seven percent over August.  In September, the average listing price of those off the market was essentially flat at $666,000. 

The inventory for both detached and condo-styled homes decreased again, dropping to 216 properties, levels normally associated with the traditional pre-spring run-up. Time on the market for active listings stretched out to 75 days, 11 more than in August.

According to Kalman, the average selling price per square foot in these two communities rose six percent to $270.  Bonsall was up slightly to $272 per square foot while Fallbrook had a nice ten percent increase to $268.  The San Diego County average was up to $383 per square foot.

Two high-end homes in each community closed escrow in September, averaging just over two months on the market.  Nine more, six in Fallbrook, are in escrow after an average of almost six months on the market. 

There are still 57 of these million-dollar-plus properties on the market, slightly more than a fourth of the active listings.  Most of them are in the larger community of Fallbrook; and this large overhang is pushing the average price in both communities among all active listings toward $1,000,000. 

In August, seven condos, six in Bonsall, sold after an average market time of 32 days.  Seven condos, only one of them in Fallbrook, were in escrow with an average market time of 50 days.  Entering October, 14 condos were on the market, eight in Fallbrook. 

Kalman´s charts and data for the reporting periods ending Sept. 30, 2017, came from 10KInfoSparks and 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.

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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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