Monday, 11 December 2017

AUGUST REAL ESTATE ACTIVITY IN NORTH SAN DIEGO COUNTY MARKET STARTS SEASONAL DOWNWARD DRIFT

Written by Posted On Wednesday, 16 September 2015 21:41

AUGUST REAL ESTATE ACTIVITY IN NORTH SAN DIEGO COUNTY MARKET STARTS SEASONAL DOWNWARD DRIFT 

FALLBROOK, Calif., September 16, 2015 --- Real estate activity in two prime North San Diego County markets reflected a typical trend toward a seasonal downward drift as prices and volume decreased in August.  A reduced number of properties entering escrow foretells of more slowing in activity over the coming months, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.

The average Fallbrook and Bonsall selling price of $532,000 per home reflected a slight two percent bump above August 2014 levels; however, there was a six percent decline in average selling price from July of 2015.  Volume was 34 percent better than August of 2014, but 11 percent lower than last month.

One third of the homes in August sold at or above the original asking price, and most of them once again were conventional transactions.  Continuing a trend that started earlier this year, conventional transactions are accounting for more than half of the activity.

Meanwhile, less than 10 percent of the August transactions were for cash, only one of them at the asking price.  Forty percent of the homes that sold were under VA/FHA contracts, an indicator that first-time buyers and those coming back into the market remain an increasingly active part of the market. 

At the high end, three homes sold, two in Fallbrook, with an average market time of 79 days.  Another 56 homes were in the active inventory, and six more, all in Fallbrook, were in escrow. 

Three condominiums sold in August, two in Fallbrook, with an average price of $233,000.  Meanwhile, ten condos were in escrow, four in Bonsall; and 12 were active listings on the market, nine of them in Fallbrook.

In August, it took 52 days on average for homes to sell while on the market, which was a 20 percent improvement over July when it took more than two months to move a home into escrow.

The average selling price per square foot, an important metric of pricing, was $$237, a surprising increase despite the drop in average selling price. 

Entering September, the residential inventory slipped below year-topping levels as the rate of closings slowed and, with them, properties going into escrow.   He noted that 291 properties were available, which still provides ample choices for buyers.  The market has less than a four-month supply of homes.

During August, 55 homes here came off the market, while the overall number of homes in escrow dropped to 71 properties. 

Diminished activity at the high end and steady demand and available funding for more affordable entry-level homes along with rumblings of increases in mortgage rates should continue to keep average selling prices down in the coming months, he forecast.

Kalman´s data for the reporting periods ending August 31, 2015, 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, and can be reached at (760) 468-4689 or This email address is being protected from spambots. You need JavaScript enabled to view it.; and a digital business card is at: http://bit.ly/1ITN3uA

 

HomeSmart, founded in 2000, has some 8000 agents and broker associates in almost 80 offices throughout 14 states and two countries.  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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