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Inventory Declines To Unhealthy Level In North San Diego County Real Estate Market

Written by Posted On Wednesday, 06 January 2016 17:21
Average price per home in San Diego, Fallbrook and Bonsall Average price per home in San Diego, Fallbrook and Bonsall 10K infosparks and SANDICOR

 

Seasonal Declines Expected to Vanish Throughout January and into February

FALLBROOK, Calif., January 6, 2016 --- Declines in the inventory of single family detached and attached homes hit unhealthy low levels in December in two prime North San Diego County markets, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.

Entering January, there were only 210 homes in the active inventory spanning Fallbrook and Bonsall, a level not seen since during and immediately following the recent recession. On the market were 201 detached homes and nine condos, the latter a typical quantity throughout the year though many at the moment are higher end units.

During December, 43 homes came off the market, bringing the total of those in escrow to 78, which partially accounted for the reduction in the inventory of active homes.  Most of the decline, however, he attributed to seasonal factors surrounding canceled and expired listings, many of which will be held off the market for a few more weeks.

The average Fallbrook and Bonsall selling price of $539,000 per home reflected a two percent increase over November and a three percent decrease in the average selling price over December 2014.  Sales volume in the two communities was 15 percent better than in the prior December.

In December, 13 percent of the homes sold at or above the original asking price, and many of those were VA or FHA transactions.  Overall, 38 percent of the homes that sold were under VA/FHA contracts, a trend that accelerated throughout the year as first-time homebuyers and those using their VA benefits became active buyers. 

At the high end, three homes sold above $1 million, two in Fallbrook.  Three more were in escrow after an average market time of 79 days.  Another 45 homes were in the active inventory where they averaged almost seven months on the market.

Three condominiums sold in December, two in Fallbrook, with an average price of $285,000 or $194 per square foot in this important part of the market.  Meanwhile, seven condos were in escrow, five in Fallbrook; and ten were active listings on the market, half of them in Bonsall.

Also reflecting seasonal dynamics, in December it took an average of 81days for homes to sell while on the market, 65 percent more time than in September when it took 49 days to move a home into escrow.  The average selling price per square foot, an important metric of pricing, was $216, a three percent increase over November.

2014 vs. 2015

Comparing 2015 with 2014, he noted that total home sales here increased by 11 percent.  Prices at an average of $541,000 per property were four percent better than in the prior year, a level close to the national average.

He also said there was more activity among high end homes as this segment saw a 16 percent increase in volume, most of that boost in Bonsall.  Prices declined, on average, while time on the market stretched out from two-and-a-half months to more than three months.

Similar data was seen in condos here as there was a nice increase in activity while prices were essentially flat and it took 30 percent more time to sell these units in 2015 than in the prior year.  More than half the transactions involved condos in Fallbrook.

Kalman´s data for the reporting periods ending December 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 10,000 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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