Tuesday, 12 December 2017

NORTH SAN DIEGO COUNTY REAL ESTATE MARKETS SHOW MIXED RESULTS AS PRICES CONTINUE UP WHILE VOLUME TAPERS OFF

Written by Posted On Friday, 04 November 2016 15:58
Average selling price for homes in Oct. Average selling price for homes in Oct. Sandicor and 10Kinfosparks

 

 Data provided by Sandicor and 10K InfoSparks

 

FALLBROOK, Calif., Nov. 4, 2016 --- Real estate activity in two prime North San Diego County markets showed pricing strength while volume continued its seasonal slip heading into the final months of 2016, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.

“October home sales continued a pace set earlier in the second half by scoring price gains of 16 percent over October 2015 and five percent over September,” he said, attributing the strong showing of an average selling price of $609,000 to continued activity in the all-important mid-range segment.

The average price and number of homes in escrow declined in October.  The average price of those coming off the market dipped four percent to $620,000, while the number of escrows at 93 properties dropped nine percent. Their time on the market lengthened as it continued to approach the yearly average of two months.

Entering November, the inventory dropped to 241 homes on the market, a marginal decline over September.  Kalman expected the inventory to decline further as some homeowners and their agents pull properties off the market over the holiday months.

He said that cash buyers continued to be less and less of a factor as 15 percent of transactions came from this category of buyer.  VA/FHA transactions accounted for 25 percent of the activity.

 “Roughly 17 percent of October sales were at or above the original asking price, and most were conventional transactions,” he said. “Virtually all that sold at or above the original asking price came off the market within 30 days.”

He noted that the average selling price per square foot in the two communities, an important metric used here to price homes, dipped three percent to $247, with Bonsall eight percent lower at $240.  Fallbrook had an average selling price per square foot of $254, an eight percent gain over September.

At the high end, three homes priced over a million dollars sold, all in Fallbrook.  Several others just below that magical price point helped bring the local price averages up.  Most of that activity, Kalman said, came from Fallbrook.

Homes above a million dollars that did sell averaged more than four months on the market.  In this segment where transactions were either for cash or using conventional mortgages, several experienced steeper than average discounts to sell. 

One fourth of the 58 active homes on the market priced above a million are in Bonsall.

He attributed another part of the overall increase in average prices to reduced activity in the condo segment as three in each community closed with an average selling price of $281,000.  The market time for those six condos stretched out to an average of 45 days.  Eight more condos were in escrow, four in each community, with an average asking price of $285,000.

Kalman´s data for the reporting periods ending October 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, 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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