Thursday, 27 July 2017

NORTH SAN DIEGO COUNTY REAL ESTATE MARKETS WEIGH IN WITH ACTIVITY AND PRICE GAINS, PACED BY STRENGTH IN HIGH-END HOMES

Written by Posted On Saturday, 08 October 2016 22:24

Three Quarters in the Books with Solid Improvement over 2015

 FALLBROOK, Calif., Oct. 10, 2016 --- Paced by strength in the upper tier of properties in Fallbrook and Bonsall, prices and volume showed strength as these two important North San Diego County markets entered the fourth quarter of 2016, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.

“In September, homes here sold for average of $586,000, a seven percent increase over August and a surprisingly strong 29 percent gain over September of 2015.”

He attributed much of the price increase to an unusually high number of homes priced above one million dollars closing escrow in September.  “Five of these high-end homes sold, four of them in Fallbrook.  Entering October, 10 high-end homes were in escrow and another 62 were in the active inventory.  The average market time for high-end homes was approaching four months,” he said.

According to Kalman, cash buyers continued to shrink as this category represented barely ten percent of the transactions in September while VA/FHA came in at 36 percent of the volume.

 “Almost thirty percent of the September sales were at or above the original asking price, and more than half of them were VA/FHA transactions,” he said. 

Overall, the price of the homes in escrow declined five percent to $643,000, while the number of escrows at 102 properties bumped up by seven percent as 64 homes came off the market in September. The time on the market is also beginning to edge up toward the yearly average of two months, which is typical for this time of the year.

Entering October, the inventory continued its short year-end surge as 247 homes are on the market, an increase over September and August.  Kalman forecast a continued increase in the inventory through October before the volume shrinks during the year-end holiday period when market activity slows.

He noted that the average selling price per square foot in the two communities, an important metric used to price homes, was $254, with Bonsall 16 percent greater at $262.  Fallbrook had an average selling price per square foot of $246, the same as in August. 

Further adding impetus to the price increases in these markets, only three condominiums, two in Fallbrook, sold in September; and eleven condos, six in Fallbrook, were in escrow after an average of two months on the market.  Another 16 are active listings on the market, eight in each market, and they have an average market time of more than two months.

 Three Quarters of Activity in Fallbrook and Bonsall

 Comparing the first three quarters of activity between 2015 and 2016, he reported that prices were essentially flat while other metrics pointed toward improvement in local real estate.  Volume in 2016 was seven percent better than in 2015.  The all-important days on market metric showed a ten percent improvement in the current year as it took a week less to go from active to off the market, further indicating the rate of activity to be greater this year than last.

Kalman´s data for the reporting periods ending September 30, 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, 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 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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