Monday, 23 October 2017

PRICE SOFTNESS CONTINUES IN NORTH SAN DIEGO COUNTY REAL ESTATE MARKET

Written by Posted On Friday, 05 February 2016 16:28

 

Inventory Begins Its Inexorable Seasonal Rise

 

 

FALLBROOK, Calif., February 5, 2016 --- January real estate activity slackened in two prime North San Diego County markets as prices and volume declined from December levels, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.

The average Fallbrook and Bonsall selling price of $496,000 per home reflected a 14 percent decline from January of 2015 and a seven percent decline from a relatively stronger December 2015.  Sales volume in the two communities was 14 percent better than in the prior January but a big 38 percent drop from December.

Entering February, 220 homes were in the active inventory spanning Fallbrook and Bonsall, a slight increase over the low number recorded in January.  Of those 220, 211 were single family detached homes and nine were condos.

            During January, the number of new escrows improved as 55 homes came off the market, bringing the total of those in escrow to 81.  The average time on the market for those entering escrow decreased slightly to 68 days, and the average price of the homes was $578,000, which suggested price increases in the coming months.

In January, 20 percent of the homes sold at or above the original asking price, and all but one of those were VA or FHA transactions.  Overall, 38 percent of the homes that sold were under VA/FHA contracts, a trend that carried over from 2015 when first-time homebuyers and those using their VA benefits represented a significant portion of local buyers. 

At the high end, nothing above one million dollars sold, though two in Fallbrook came off the market.  Eight high-end homes were in escrow after an average market time of more than three months.  Another 50 homes were in the active inventory where they averaged more than five months on the market.

One Fallbrook condominium sold in January.  Meanwhile, ten condos were in escrow, five in each community; and nine were active listings on the market, five of them in Fallbrook.

Reflecting seasonal dynamics, in January it took an average of 66 days for homes to sell while on the market, a timeframe still higher than the average during 2015.

The average selling price per square foot, an important metric of pricing, was $234, an eight percent increase over December.

 Kalman´s data for the reporting periods ending January 31, 2016, 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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