Thursday, 25 May 2017

NORTH SAN DIEGO COUNTY REAL ESTATE ENDS YEAR WITH SOLID PRICE APPRECIATION

Written by Posted On Friday, 06 January 2017 16:06

2016 Scores Significant Gains Over Prior Year

 

FALLBROOK, Calif., Jan. 6, 2017 --- Real estate activity in two prime North San Diego County markets closed the year on several  high notes as prices and volume showed expected strength, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.

“December home sales in Fallbrook and Bonsall, paced by the closing of several high-end properties, came in 16 percent better than December 2015 and eight percent above the prior month.  Volume also showed strength though it lagged last year by 16 percent,” he reported.

Looking at homes coming off the market, an indicator of future activity, the average price and number of properties going into escrow declined in December, but less than typical.  The average price of those coming off the market dipped six percent from November to $563,000, while the total number of escrows at 71 properties dropped 14 percent. Time on the market for those entering escrow stretched out again, coming in at roughly two months.

Kalman reported that the inventory dropped below 200 units as realtors pulled many listings from the market in the final month of the year.  A series of prematurely expired listings were engineered by agents and their sellers to freshen the appearance with new listings at the beginning of 2017.  “By the end of January the inventory will approach 220 units, almost 20 percent more than at the moment,” he said.

Cash buyers represented 17 percent of the December transactions while VA/FHA transactions accounted for an astounding 35 percent of the activity as it appeared lenders worked to clear their books of these transactions.

 “Some 19 percent of the sales in December were at or above the original asking price, and most were VA/FHA transactions,” Kalman said. “Almost all of those that sold at or above the original asking price came off the market within a month of when they were listed.”

He noted that the average selling price per square foot in the two communities, an important metric used here to price homes, increased to $260, with Bonsall rising 21 percent to $281 based on strength in high-end homes.  Fallbrook had an average selling price per square foot of $239, a nominal dip from the prior month.

At the high end, six homes, three in each community, sold.  Half of those homes above a million dollars averaged less than two months on the market. 

Approximately one fourth of the 50 active homes on the market priced above a million are in Bonsall.  Four million-dollar-plus homes, all in Fallbrook, entered escrow in December after averaging four months on the market.

Condo activity was mixed in the month as five units sold, all in Fallbrook, and they were below the original asking price.  With one exception, the average market time for those condos declined to less than a month. 

Ten more condos were in escrow, six in Fallbrook.  Of the seven condos that came off the market in December, four were in Fallbrook. 

Eleven condos were on the market entering January, eight of them in Fallbrook.  The average market time for those condos in the active inventory was almost four months.

Comparing 2016 with 2015

Overall, 2016 was a better year for local real estate than even a strong 2015 was.  For 2016, average prices were four percent better than 2015, while volume was up seven percent.  Time on the market was significantly improved, showing a 27 percent drop to under two months.

Ironically, volume among condos and high end homes came in less in 2016 than in 2015.  Prices were up nine percent for condos and marginally lower for high end homes.

These results at the two extremes indicated much of the strength for 2016 was in the mid-range of the market, a healthy indicator for Fallbrook and Bonsall real estate.

Kalman´s data for the reporting periods ending December 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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