Monday, 23 October 2017

NOVEMBER NORTH SAN DIEGO COUNTY REAL ESTATE ACTIVITY SHOWS SURPRISING STRENGTH

Written by Posted On Tuesday, 06 December 2016 02:55
Average price per transaction in Fallbrook and Bonsall in December Average price per transaction in Fallbrook and Bonsall in December Sandicor and 10K Infosparks

Inventory Declines at Typical Pace

 FALLBROOK, Calif., Dec. 6, 2016 --- Real estate activity in two prime North San Diego County markets bucked the seasonal trend as prices and volume remained firm entering the final month of the year, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.

“November home sales in Fallbrook and Bonsall showed surprising strength compared with November 2015 as prices were 23 percent better than a year ago and volume here was up nine percent.  Significantly, volume was equal to October while prices slipped by six percent over the prior month,” he reported.

As expected, the average price and number of homes going into escrow declined in November, but less than typical for the 11th month.  The average price of those coming off the market dipped four percent from October to $598,000, while the number of escrows at 83 properties dropped 11 percent. Time on the market for those entering escrow stretched out again, approaching the yearly average of two months.

Entering December, the inventory declined 15 percent to 206 homes on the market, typical for this time of the year.  Kalman expected the inventory to drop below 200 units as homes are pulled from the market in the final month of the year.

Cash buyers represented 20 percent of the November transactions while VA/FHA transactions accounted for 25 percent of the activity again.

 “Some 20 percent of the sales in November were at or above the original asking price, and most continued to be conventional transactions,” he said. “All but three that sold at or above the original asking price came off the market within two weeks.”

He noted that the average selling price per square foot in the two communities, an important metric used here to price homes, dipped six percent to $232, with Bonsall eight percent less than October at $220.  Fallbrook had an average selling price per square foot of $244, a four percent decline from the prior month.

 At the high end, three homes, all in Fallbrook, priced over a million dollars sold.  Two of those homes above a million dollars averaged less than four weeks on the market. 

Slightly more than one fourth of the 54 active homes on the market priced above a million are in Bonsall.  Two million-dollar-plus homes, both also in Bonsall, entered escrow in November after averaging more than half a year on the market.

 Condo Activity Begins to Languish

Condo activity was mixed in the month as six units sold, four in Bonsall, and all of them below the asking price.  Two in Fallbrook sold above the original listing price.  The average market time for those six condos declined to less than a month. 

Seven more condos were in escrow, six in Fallbrook.  All five that came off the market in November were in Fallbrook. 

Fourteen condos were on the market entering December, nine of them in Fallbrook.  The average market time for those condos in the active inventory was more than three months.

Kalman´s data for the reporting periods ending November 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.  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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