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Bonsall/Fallbrook Homes

This Bonsall/Fallbrook Homes Blog brings you comments and insight into changes taking place in one of North San Diego County's most attractive markets ... Bonsall/Fallbrook.

Saturday, July 06, 2019



NEW CONSTRUCTION CONTINUES TO BOLSTER
REAL ESTATE ACTIVITY IN FALLBROOK AND BONSALL

First Half of 2019 Weaker Than Comparable 2018 Period







FALLBROOK, Calif., July 7, 2019 --- June home prices at an average of $631,000 were up three percent over May but once again showed a decline from the prior year when real estate activity was noticeably stronger, Jerry Kalman, a realtor® here with HomeSmart Legends, reported today.
Average June 2019 selling prices in Fallbrook and Bonsall were four percent less than $660,000 in June 2018, he said, noting that time to sell at 67 days was significantly worse than levels achieved in both May 2019 and June 2018.
According to Kalman, selling volume at 89 units showed a slight increase over June 2018, but was off six percent from the stronger prior month when 94 homes sold.
VA/FHA/USDA transactions slipped to 27 percent of the transactions while cash deals were down to a meager 11 percent of activity in June.  Once again, more than a third of the homes sold at prices equal to or greater than the original listing prices, he reported, and half of those were VA/FHA transactions. 
He noted that homes in escrow dipped to 110 properties here; with 78 going into escrow in June, another decline from a peak earlier this year.  More than 10 percent of those in escrow are new construction, most of them east of Fallbrook along the I-15 corridor.
The average time on the market for those in escrow, an arbiter of things to come, finally improved to 57 days; but for new homes it remained about three months.  The average price of those in escrow improved to $683,000.
New construction, mostly in Fallbrook and along the I-15 freeway, accounted for ten percent of the sold homes.  Reflecting an acceleration of activity on the eastern edge of the community, in June new construction represented approximately 20 percent of the homes that sold here.
Kalman said the inventory decreased again, dropping slightly to under 320 homes.  Entering July, five percent of the inventory remained among new construction in both communities.  Overall, Bonsall accounted for 50 available properties entering the second half of the year while the larger community of Fallbrook had about 270 single family homes.
 “Average price per square foot helps realtors value homes in diverse communities like Fallbrook and Bonsall,” he said.  “At an average of $284 per square foot in June, sold properties in the local market rose four percent from May, reversing a brief downward trend.  Bonsall rose $30 to $295 per square foot, while Fallbrook was down slightly to $272 per square foot.”



Kalman said the county-wide San Diego average dipped $5 to $403 per square foot.
At the high end, five homes priced over one million dollars closed escrow in June, four in Fallbrook.  Eleven million-dollar-plus homes, however, are in escrow, and that should bolster results in July and August.  Almost 90 of these properties are in the active inventory, averaging close to four months on the market.
At the other end of the spectrum, nine condos sold in June, six in Fallbrook.  He said that nine other attached properties are in escrow, five of them in the new developments east of Interstate 15.  The inventory of active condo listings was 12 units at the end of June with an average market-time above two months.  Half of them are existing units in Bonsall.

First Half Shows Slowing Over 2018

Comparing the first half of 2019 with the prior year, he said that the market slowed in 2019 despite the emergence of new properties along the I-15 corridor.  “The number of sold homes dipped seven percent this year from the first six months of 2018, and prices were off four percent to an average of $612,000 since January 1, 2019.”
He noted that the average time on the market this year was two months versus 48 in the first six months of 2018.
Kalman´s data for the reporting periods ending June 30, 2019, and reported by July 6, 2019, came from CRMLS, a regional multiple listing service for area realtors.  This report 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. DRE # 01328697) in the North County office of HomeSmart Legends, 701 S. Main, Fallbrook, at (760) 468-4689 (voice or text) or jerry@jerrykalman.com.
HomeSmart, founded in 2000, has more than 14,000 agents and broker associates in offices throughout 17 states.  HomeSmart Legends, the first franchise in the HomeSmart system, is located at 41823 N. Enterprise Circle, Suite 130, Temecula, CA  92590.

Charts and Data Courtesy of CRMLS and 10K InfoSparks

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Friday, June 07, 2019

SALES VOLUME CONTINUES STRONG WHILE PRICES LANGUISH IN FALLBROOK AND BONSALL




SALES VOLUME CONTINUES STRONG WHILE PRICES LANGUISH
IN FALLBROOK AND BONSALL

Prices of Homes Entering Escrow Improve Despite Volume Drop








Charts and data provided by CRMLS and 10K InfoSparks

FALLBROOK, Calif., June 7, 2019 --- May home prices were up three percent over April but once again showed a slight decline from the prior year when real estate activity was greater, Jerry Kalman, a realtor® here with HomeSmart Legends, reported today.
Average May 2019 selling prices in Fallbrook and Bonsall were $610,000 versus $634,000 in May 2018.  Time to sell at 48 days improved over April but was off five days against May 2018 when the real estate market was stronger and properties tended to move off the market quicker.
According to Kalman, selling volume showed increases over both May 2018 and April 2019.
VA/FHA/USDA transactions bumped up to 40 percent of the transactions while cash deals dipped to a meager 11 percent of activity in May.  Once again, 20 homes sold at prices equal to or greater than the original listing prices, he reported, which as a percentage was a decline to 22 percent of overall selling activity. 
He noted that homes in escrow was essentially flat at 120 properties here; with only 77 going into escrow in May, a decline from April and an indication of some headwinds for local activity in the months to come.  About one fourth of those in escrow are new construction, most east of Fallbrook along the I-15 corridor.
The average time on the market for those in escrow, also an arbiter of things to come, rose to 66 days; but for new homes it was over three months.  The average price of those in escrow improved to $667,000, and that indicates there is still some flex in pricing. 
Kalman said the inventory decreased slightly to under 330 homes.  Entering June, five percent of the inventory remained among new construction in both communities, most along the I-15 corridor.  Overall, Bonsall accounted for 48 of the available properties at the end of May while the larger community of Fallbrook had about 275 single family homes.
 “Average price per square foot helps realtors value homes in highly diverse communities like Fallbrook and Bonsall,” he reported.  “Logging an average of $270 per square foot in May, sold properties in the local market dipped six percent from April, which was also down from March.  Bonsall dropped almost $30 to $265 per square foot, while Fallbrook was down slightly to $275 per square foot.”


Kalman said that the San Diego County average rose to $408 per square foot among sold homes.
At the high end, six homes priced over one million dollars closed escrow in May, four in Fallbrook.  Another 11 million-dollar-plus homes, however, are in escrow.  More than 90 of these properties are in the active inventory, averaging four months on the market.
At the other end of the spectrum, 13 condos sold in May, 11 in Fallbrook.  The condos that sold were on the market an average of just over two months.  He said that 11 attached properties are in escrow, seven of them in the new developments east of Interstate 15.  The inventory of active condo listings was 14 units with an average market-time approaching three months.  Five of them are in Bonsall and the remainder in Fallbrook.
Kalman´s data for the reporting periods ending May 31, 2019, and reported by June 6, 2019, came from CRMLS, a regional multiple listing service for area realtors.  This report 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. DRE # 01328697) in the North County office of HomeSmart Legends, 701 S. Main, Fallbrook, at (760) 468-4689 (voice or text) or jerry@jerrykalman.com.
HomeSmart, founded in 2000, has more than 14,000 agents and broker associates in offices throughout 17 states.  HomeSmart Legends is the first franchise in the HomeSmart system.  The Temecula office is located at 41823 N. Enterprise Circle, Suite 130, Temecula, CA  92590.

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Monday, May 06, 2019


FALLBROOK/BONSALL REAL ESTATE VOLUME REBOUNDS IN APRIL

Prices Remain Soft Versus Robust Year-Ago Levels






FALLBROOK, Calif., May 6, 2019 --- April home prices were up three percent over the prior month but were well short of high-water levels achieved in 2018, Jerry Kalman, a realtor® here with HomeSmart Legends, reported today.
Average selling prices in Fallbrook and Bonsall were $596,000 in April versus $654,000 in April 2018.  Time to sell was essentially flat versus the prior month but was off by 26 percent against April 2018 when the real estate market was stronger and properties moved off the market quicker.
According to Kalman, selling volume was 15 percent less than April 2018 but a similar margin above March of this year.
VA/FHA/USDA transactions remained steady at one third of those that sold while cash deals were 16 percent once again.  Twenty homes sold at prices equal to or greater than the original listing prices, he reported. 
He noted that homes in escrow rose to 118 properties here; with 86 going into escrow in April, both significant improvements over March.  The average time on the market for those in escrow dipped to 53 days, and the average price of those in escrow improved to $640,000, which portends of a better spring to come. 
Kalman said the inventory increased slightly, as expected at this point in “the selling season”, rising to 340 homes.  Entering May, ten percent of the inventory remained among new construction in both communities, most along the I-15 corridor.  Overall, Bonsall accounted for 47 of the available properties at the end of April while the larger community of Fallbrook had about 290 single family homes.
Charts and data courtesy of CRMLS and 10KInfoSparks

 “Average price per square foot helps realtors value homes in highly diverse communities like Fallbrook and Bonsall,” he reported.  “Logging an average of $285 per square foot in April, sold properties in the local market dipped six percent from $304 in March.  Bonsall, however, dropped 11 points to $294 per square foot, while Fallbrook was flat at $276 per square foot.”
Kalman said that the San Diego County average dropped a point to $398 per square foot among sold homes.
At the high end only one home priced over one million dollars closed escrow in April. Twelve other million-dollar-plus homes, however, are in escrow.  More than 80 of these properties are in the active inventory, averaging almost four months on the market.
At the other end of the spectrum, four condos sold in April, all in Fallbrook.  The condos that sold were on the market an average of just over a month.  He said that 16 attached properties are in escrow, nine of them in the new developments east of Interstate 15.  The inventory of active condo listings was also 16 units, more than a third of these attached properties are in the new complexes in east Fallbrook.
Kalman´s data for the reporting periods ending April 30, 2019, and reported by May 6, 2019, came from CRMLS, a regional multiple listing service for area realtors.  This report 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. DRE # 01328697) in the North County office of HomeSmart Legends, 701 S. Main, Fallbrook, at (760) 468-4689 (voice or text) or jerry@jerrykalman.com.
HomeSmart, founded in 2000, has more than 14,000 agents and broker associates in offices throughout 17 states.  HomeSmart Legends is the first franchise in the HomeSmart system.  The Temecula office is located at 41823 N. Enterprise Circle, Suite 130, Temecula, CA  92590.

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Friday, April 05, 2019

FALLBROOK/BONSALL REAL ESTATE PRICES AND VOLUME DROP VERSUS PRIOR YEAR, WITH SOME IMPROVEMENT OVER FEBRUARY


New Construction Accounts for 13 Percent of Inventory and 17 Percent of Those Pending





Charts and Data Courtesy of CRMLS and 10K InfoSparks

FALLBROOK, CALIF., -- Home prices in March dipped once again, falling six percent from the prior month and seven percent from March of 2018, Jerry Kalman, a realtor® with HomeSmart Legends, reported today.
Average selling prices in Fallbrook and Bonsall were $587,000 this past March versus $625,000 in March 2018.  Time to sell improved slightly over February but was off by a week against March 2018 when by all accounts the market was more robust for home selling.
VA/FHA/USDA transactions represented 23 percent of those that sold while cash deals were 16 percent.  Sixteen homes sold at prices equal to or greater than the original listing prices, he reported.  An overwhelming number of those recording sales equal to our greater than the original asking price were conventional transactions, a sharp departure from earlier months when most were written under either VA/FHA or USDA contracts.
He reported that 95 homes are in escrow here; with 72 going into escrow in March.  The average time on the market for those in escrow hovered just under two months, and the average price of those in escrow averaged $614,000. 
Kalman said the inventory remained nearly steady at 328 units.  Entering April, ten percent of the inventory was among new construction along the I-15 corridor and the new projects in Bonsall.  Overall, Bonsall accounted for 40 properties listed at the end of March while the larger community of Fallbrook had about 290 single family homes.

 “Average price per square foot helps realtors value homes in highly diverse communities like Fallbrook and Bonsall,” he reported.  “Logging an average of $302 per square foot in March, sold properties in the local market rose six percent from $284 in February.  Fallbrook, however, dipped six points to $271 per square foot, while Bonsall jumped up by 19 percent to $332 per square foot.”
Kalman said that the San Diego County average rose to $399 per square foot among sold homes.
At the high end only one home priced over one million dollars closed escrow in March, achieving an average market time of only 28 days. Three other million-dollar-plus homes, however, are in escrow.  Some 75 of these properties are in the active inventory, averaging almost four months on the market.
At the other end of the spectrum, six condos sold in March, five in Fallbrook.  The condos that sold were on the market an average of almost two months.  He said that eight attached properties are in escrow, five of them in the new developments east of Interstate 15.  The inventory of active condo listings rose to 17 units, another five of them are in the new complexes in east Fallbrook.
Kalman´s data for the reporting periods ending March 31, 2019, and reported by April 4, 2019, came from CRMLS, a regional multiple listing service for area realtors.  This report 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. DRE # 01328697) in the North County office of HomeSmart Legends, 701 S. Main, Fallbrook, at (760) 468-4689 (voice or text) or jerry@jerrykalman.com.
HomeSmart, founded in 2000, has more than 14,000 agents and broker associates in offices throughout 17 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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Saturday, March 09, 2019

FALLBROOK/BONSALL REAL ESTATE PRICES AND VOLUME REBOUND, BOLSTERED SOMEWHAT BY NEW CONSTRUCTION IN THE AREA


FALLBROOK/BONSALL REAL ESTATE PRICES AND VOLUME REBOUND,
BOLSTERED SOMEWHAT BY NEW CONSTRUCTION IN THE AREA

Activity Picks up Entering the Active 2019 Period for Local Real Estate







FALLBROOK, Calif., March 9, 2019 --- February home prices rose 17 percent while the number of those closing escrow increased ten percent as local real estate started the “selling season” with several bright spots, Jerry Kalman, a realtor® with HomeSmart Legends, reported today.
Average selling prices at $628,000 in Fallbrook and Bonsall were three percent better than February 2018, he said.  Time to sell also showed an improvement as that important benchmark dipped under two months.
According to Kalman, four of the homes that sold in this part of North San Diego County were new detached properties along the I-15 corridor. 
VA/FHA/USDA transactions represented 36 percent of those that sold while cash deals rose to 20 percent.  Another third of the homes sold at prices equal to or greater than the original listing prices, he reported.  Most were either VA/FHA or cash transactions.
He reported that 64 homes are in escrow here, approximately the same as in January; however, 46 went into escrow in February.  Eight of those in escrow were in the new projects along Interstate 15.  The average price of those in escrow at the end of February was $631,000, a slight drop from January. 
Kalman said the inventory in February dipped slightly.  Entering March, approximately 250 homes were in the active inventory, with at least 32 units among new construction, 20 along the I-15 corridor and three in a new project in Bonsall.  Overall, Bonsall accounted for 30 properties listed at the end of February while the larger community of Fallbrook had about 220 single family homes.

Charts and Data Courtesy CRMLS and 10K InfoSparks

 “Average price per square foot helps realtors value homes in highly diverse communities like Fallbrook and Bonsall,” he reported.  “Logging an average of $279 per square foot in February, sold properties in the local market rose seven percent from $260 in January.  Fallbrook rose three points to $280 per square foot, while Bonsall recovered by 13 percent to $278 per square foot.”
Kalman said that the San Diego County average rose a small amount to $393 per square foot among sold homes.
At the high end four homes priced over one million dollars closed escrow in February with an average market time of four months. Three other million-dollar-plus homes, however, are in escrow; and all are in Fallbrook.  Approximately 65 are in the active inventory, averaging almost four months on the market.
At the other end of the spectrum, two condos sold in February, one in each community.  The condos that sold were on the market just under two months.  He said that six attached properties are in escrow, four of them in Fallbrook in the new developments east of Interstate 15.  The inventory of active condo listings rose to 16 units, one fourth of them are in the new complexes east of the freeway.
Kalman´s data for the reporting periods ending February 28, 2019, and reported by March 8, 2019, came from CRMLS, a regional multiple listing service for area realtors.  This report 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. DRE # 01328697) in the North County office of HomeSmart Legends, 701 S. Main, Fallbrook, at (760) 468-4689 (voice or text) or jerry@jerrykalman.com.
HomeSmart, founded in 2000, has more than 14,000 agents and broker associates in offices throughout 17 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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Wednesday, February 06, 2019


PRICES AND VOLUME DIP AS SLOW-DOWN PERSISTS IN FALLBROOK AND BONSALL ENTERING 2019


New Developments along I-15 Contribute to Local Results, Somewhat







FALLBROOK, Calif., Feb. 6, 2019 --- Home prices declined while properties going into escrow increased as 2019 opened with mixed results, Jerry Kalman, a realtor® with HomeSmart Legends, reported today.
Average prices at $538,000 in Fallbrook and Bonsall were eight percent less than January 2018, and another 12 percent below December of 2018, he said.  Time to sell improved slightly as that important benchmark dipped a week to 70 days.
According to Kalman, five of the homes that sold in this part of North San Diego County were new properties along the I-15 corridor.  Three of them were sold under VA contracts.
Overall, VA/FHA/USDA transactions represented 34 percent of those that sold while cash deals dipped to 12 percent.  Another 20 percent of the homes sold at prices equal to or greater than the original listing prices, he reported, a decline from December. 
According to Kalman, it appears that the surge among VA/FHA properties might have been affected by the end of the government shutdown.
He reported that 69 homes are in escrow here, 11 more than the prior month; and 47 went into escrow in January.  Eleven of those on the market were in the new projects along Interstate 15.

Some Good News 
On a positive note, the average price of all those in escrow at the end of January was $686,000, a 19 percent increase over December. 
Kalman said the inventory in January rebounded slightly as many properties removed during the slow holiday period started to come back on the market.  Entering February, approximately 270 homes were in the active inventory, with at least 12 units among new construction along the I-15 corridor.  Overall, Bonsall accounted for 29 properties listed at the end of January while the larger community of Fallbrook had about 230 properties.
 “Average price per square foot helps realtors value homes in highly diverse communities like Fallbrook and Bonsall,” he reported.  “Logging an average of $260 per square foot in January, sold properties in the local market dipped six percent from $277 in December; the average dragged down by no closes in the million-plus category this past month.  Fallbrook rose a point to $272 per square foot, while Bonsall, with only one transaction, a condo, dropped 13 percent to $247 per square foot.”

Charts and data courtesy of CRMLS and 10K InfoSparks

Kalman said that the San Diego County average was essentially flat at $387 per square foot among sold homes.
As noted, at the high end no homes priced over one million dollars closed escrow in January. Another six million-dollar-plus homes, however, are in escrow, five in Fallbrook.  Approximately 70 are in the active inventory, averaging close to four months on the market.
At the other end of the spectrum, three condos sold in January, two are in Fallbrook.  The condos that sold were on the market an average of two months.  He said that six attached properties are in escrow, five of them in Fallbrook.  The inventory of active condo listings rose to 19 units, four of them are in the new complexes east of the freeway.
Kalman´s data for the reporting periods ending January 31, 2019, and reported by February 5, 2019, came from CRMLS, a regional multiple listing service for area realtors.  This report 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. DRE # 01328697) in the North County office of HomeSmart Legends, 701 S. Main, Fallbrook, at (760) 468-4689 (voice or text) or jerry@jerrykalman.com.
HomeSmart, founded in 2000, has more than 14,000 agents and broker associates in offices throughout 17 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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