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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.

Thursday, September 07, 2023

FALLBROOK/BONSALL REAL ESTATE PRICES SCORE IMPRESSIVE GAINS, DRIVEN LARGELY BY DEPLETED INVENTORY IN AUGUST

 Premium Pricing in all Segments Dominates


 

 


FALLBROOK/BONSALL, Calif., September 7, 2023 --- In August, Fallbrook and Bonsall real estate prices showed impressive gains, driven in large part by painfully meager inventory levels, Jerry Kalman, a realtor® with HomeSmart Realty West, said today.

Average August sales at $1,067,000 were 13 percent higher than the $942,000 in July and 23 percent above the $840,000 recorded in August, 2022.  Half of all the homes that sold here in every price range and style closed at or above the original listing price.

He said that almost 50 percent of the sold properties came in above $1 million; and, of the 27 that sold above one million, 12 closed at or above their original listing price. 

Those million-plus homes that sold here averaged 31 days on the market.  Another 16 top-tier homes were in escrow.

Average market time for those selling in all market segments here was 26 days.  In July, 2023, the average market time was 26 days; in August 2022, market time was at 24 days.

Kalman said the active inventory dropped down to 97 properties on the market entering September.  Almost two thirds of that current inventory is priced over a million dollars.  He said that a paltry 34 properties were listed in August. 

Time on the market for those in the active inventory rose slightly to 71 days, another indication of the market slowing.

In August, 41 properties entered escrow, bringing the total to 58 homes awaiting close.  The average asking price for all those in escrow was up over 100 percent to $2,194,000!

Four condos sold in August, three in Fallbrook.  Another nine condos, four in Bonsall, are in escrow after 15 days on the market.  Seven attached properties, six in Fallbrook, are in the active inventory as of August 31, 2023.

 Average-Price-Per-Square-Foot Metric Declines

 He said that the two-community average price-per-square-foot for million-dollar-plus homes selling here in August dropped four percent to $406. 

 

             The average selling price-per-square-foot for all homes that sold here was $421 versus $449 per-square-foot in July.  Fallbrook was flat at $416 per-square-foot, while Bonsall dropped 12 percent to $425 per-square-foot.  

In August of 2022, the two-community price-per-square-foot was $386.  In that period, Fallbrook recorded $416 per-square-foot and Bonsall was $355, which was a severe drop for then.

The San Diego County metric in August rose $14 to $646 per-square-foot, and was $53 higher than the $593 recorded in August, 2022.

Data for reporting periods ending August 31, 2023, and sourced through September 6, 2023, is 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 Fallbrook/Bonsall-focused realtor (Calif. DRE # 01328697) with HomeSmart Realty West (DRE # 01905908).  He can be reached at (760) 468-4689 (voice or text) or jerrylkalman@gmail.com.

Nationwide, HomeSmart now has more than 25,000 agents and broker associates in 49 states.  HomeSmart Realty West, with 800 of those agents operating out of four southern California offices, is headquartered at 300 Carlsbad Village Drive, Carlsbad, CA  92008.

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Charts and data courtesy of CRMLS and InfoSparks

 

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Sunday, August 06, 2023

FALLBROOK AND BONSALL REAL ESTATE CHUGS ALONG AT A SLOWER RATE AS SUMMER SELLING PERIOD NEARS END

 Seasonal Pattern Shows Many Metrics Off or Up Slightly


 



FALLBROOK/BONSALL, Calif., August 6, 2023 --- July real estate prices in Fallbrook and Bonsall showed signs of entering the summer doldrums as many metrics had only slight increases or declines, Jerry Kalman, a realtor® with HomeSmart Realty West, said today.

Average July sales at $944,000 were six percent lower than the $1,004,000 in June and slightly above the $941,000 recorded in July, 2022.  Half of all the homes that sold here in every price range and style closed at or above the original listing price.

He said that 30 percent of the sold properties came in above $1 million; however, of the 17 that sold above one million, eight closed at or above their original listing price. 

Those million-plus homes that sold here averaged a month on the market.  Another eighteen top-tier homes were in escrow.

Average market time for those selling here dropped to 26 days, an indication that well-priced homes move in a timely manner.  In July, 2022, the average market time was 22 days; in June of this year, market time was a little better at 24 days.

Kalman said the active inventory rose marginally to 113 properties on the market entering August.  Almost two thirds of that current inventory is priced over a million dollars.  He  said that 46 properties were listed in July. 

Time on the market for those in the active inventory was flat at just over two months.

In July, 39 properties entered escrow, bringing the total to 61 homes awaiting close, both of which were slightly off June levels.  The average asking price for all those in escrow was up nine percent to $1,012,000.

Four condos sold in July, three in Fallbrook; and two of them were new construction in the developments east of I-15.  Another five condos, four in Fallbrook, are in escrow after 14 days on the market.  Twelve attached properties, nine in Fallbrook, are in the active inventory as of July 31, 2023.

 Average-Price-Per-Square-Foot Metric Shows Improvement

He said that the two-community average price-per-square-foot for million-dollar-plus homes selling here in July increased five percent to $423.  

The average selling price-per-square-foot for all homes that sold here was $448 versus $417 per-square-foot in June.  Fallbrook dipped $6 to $414 per-square-foot, while Bonsall brought the average up $68 to $482 per-square-foot.  

In July of 2022, the two-community price-per-square-foot was $444.  In that period, Fallbrook recorded $411 per-square-foot and Bonsall was $476.

San Diego County in July rose $12 to $633 per-square-foot, and was $31 higher than the $602 recorded in July, 2022.

Data for reporting periods ending July 31, 2023, and sourced through August 5, 2023, is 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 Fallbrook/Bonsall-focused realtor (Calif. DRE # 01328697) with HomeSmart Realty West (DRE # 01905908).  He can be reached at (760) 468-4689 (voice or text) or jerrylkalman@gmail.com.

Nationwide, HomeSmart now has more than 25,000 agents and broker associates in 49 states.  HomeSmart Realty West, with 800 of those agents operating out of four southern California offices, is headquartered at 300 Carlsbad Village Drive, Carlsbad, CA  92008.

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Charts and data courtesy of CRMLS and InfoSparks

 

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Thursday, July 06, 2023

FALLBROOK AND BONSALL REAL ESTATE SHOWS SPOTTY IMPROVEMENT IN JUNE METRICS

Prices up over May While Volume Lags


 



FALLBROOK/BONSALL, Calif., July 6, 2023 --- June real estate prices in Fallbrook and Bonsall shrugged off some of the headwinds from rising mortgage rates to record gains versus month- and year-prior results, Jerry Kalman, a realtor® with HomeSmart Realty West, said today.

Average June sales at $993,000 were six percent better than the $935,000 in May and one percent above the $982,000 recorded in June, 2022.  More than half of all the homes that sold here in every price range and style closed at or above the original listing price.

He said that almost half of the sold properties came in above $1 million; however, of those that sold above one million, only ten closed at or above their original listing price, “and this pricing segment appeared to be under the most price pressure versus lower market levels.” 

There was an expected decline in the number of transactions, dropping from 67 sold properties in May to 59 in June, a trend he expected to continue throughout the last half of the year.  In June last year, the local market recorded 63 properties selling, he said, marking the beginning of the market decline that has persisted through the first half of 2023.

Average market time for all those selling here dropped to an impressive 24 days.  In June, 2022, the average market time was 16 days. In May of this year, market time was well over a month

The active inventory rose to 109 properties on the market at month-end.  Some 50 properties came on the market last month; and, the average asking price for available homes was $2,500,000.  More than two thirds of that current inventory is priced over a million dollars.

Time on the market for those in the active inventory was flat at just under two months.

In June, 41 properties entered escrow, bringing the total to 64 homes awaiting close, which was an improvement over May and portends for a stronger July.  The average asking price for all those in escrow was flat at $928,000.

Eight condos sold in June, six in Bonsall, after 20 days on the market.  Another six condos, four in Fallbrook, are in escrow after 17 days on the market.  Eight attached properties, all in Fallbrook, are in the active inventory as of June 30, 2023.

Looking at high-end homes, 25 properties priced above a million dollars sold in June.  Those million-plus homes that sold averaged 35 days on the market.  Seventeen top-tier homes were in escrow.

The two-community average price-per-square-foot for million-dollar-plus homes that sold here decreased six percent to $404.  

The average selling price-per-square-foot for all homes that sold here was $408 versus $382 per-square-foot in May.  Fallbrook rose $7 to $398 per-square-foot, and Bonsall rose $42 to $414 per-square-foot.  

In June of 2022, the two-community price-per-square-foot was $456.  Fallbrook recorded $433 per-square-foot and Bonsall was $478, both of which back then were down slightly after peaking in April of 2022.

San Diego County in June rose $3 to $622 per-square-foot, but was a dollar lower than the $623 recorded in June 2022.

Data for reporting periods ending June 30, 2023, and sourced through July 5, 2023, is 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 Fallbrook/Bonsall-focused realtor (Calif. DRE # 01328697) with HomeSmart Realty West (DRE # 01905908).  He can be reached at (760) 468-4689 (voice or text) or jerrylkalman@gmail.com.

Nationwide, HomeSmart now has more than 25,000 agents and broker associates in 49 states.  HomeSmart Realty West, with 800 of those agents operating out of four southern California offices, is headquartered at 300 Carlsbad Village Drive, Carlsbad, CA  92008.

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Charts and data courtesy of CRMLS and InfoSparks

  

Tuesday, June 06, 2023

FALLBROOK AND BONSALL REAL ESTATE INVENTORY BEGINS TO FILL OUT

 


 

 



FALLBROOK/BONSALL, Calif., June 6, 2023 --- May real estate prices in Fallbrook and Bonsall dipped versus month- and year-prior results, Jerry Kalman, a realtor® with HomeSmart Realty West, said today.

Average May sales at $937,000 were eight percent lower than the $1,022,000 in April and five percent below the $982,000 recorded in May, 2022.  Fifty-eight percent of all the homes that sold here in all price ranges and styles closed at or above the original listing price, an increase over April. 

He said that one-third of the sold properties came in above $1 million; however, of those that sold above one million, only five closed at or above their original listing price. 

As reported last month, Kalman said that the local market continues to face strong headwinds proceeding toward the end of the “selling season” here, which normally phases out in July.  Persistently below average inventories continue to prop up prices even in the face of diminished demand due to higher mortgage interest rates and overall economic uncertainty, some of which was caused by the recent debt-ceiling-overhang in Washington in May.

Last month, there was a modest and seasonal increase in the number of transactions, rising from 57 sold properties in April to 66 in May.  In May last year, the local market recorded 84 properties selling, he said.

Average market time for all those selling here rose slightly to 41 days.  In May, 2022, the average market time was 16 days!

The active inventory rose significantly to 100 properties on the market at month-end.  Some 49 properties came on the market last month; and, the average asking price for available homes was $2,360,000. 

Time on the market for those in the active inventory dipped to 56 days.

In May, 37 properties entered escrow, bringing the total to 56 homes awaiting close.  The average asking price for all those in escrow rose to $926,000.

Seven condos sold in May, six in Fallbrook.  Another seven condos, four in Fallbrook, are in escrow after 15 days on the market.  Five attached properties, four in Fallbrook, are in the active inventory as of May 31, 2023.

Looking at high-end homes, 21 properties priced above a million dollars sold in May.  Those million-plus homes that sold averaged 41 days on the market.  Nineteen top-tier homes were in escrow. Another 62 above the million-dollar-price-point are active, which is 30 percent more than in the prior month.

The two-community average price-per-square-foot for million-dollar-plus homes that sold here increased to $428.  

 

             The average selling price-per-square-foot for all homes that sold here was $383 versus $380 per-square-foot in April.  Fallbrook dipped $26 to $372 per-square-foot, and Bonsall rose $32 to $393 per-square-foot.  

In May of 2022, the two-community price-per-square-foot was $424.  Fallbrook recorded $412 per-square-foot and Bonsall was $435.

San Diego County, at $621 per-square-foot, was two percent higher than the $608 recorded in April.

Data for reporting periods ending May 31, 2023, and sourced through June 5, 2023, is 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 Fallbrook/Bonsall-focused realtor (Calif. DRE # 01328697) with HomeSmart Realty West (DRE # 01905908).  He can be reached at (760) 468-4689 (voice or text) or jerrylkalman@gmail.com.

Nationwide, HomeSmart now has more than 25,000 agents and broker associates in 49 states.  HomeSmart Realty West, with 800 of those agents operating out of four southern California offices, is headquartered at 300 Carlsbad Village Drive, Carlsbad, CA  92008.

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Charts and data courtesy of CRMLS and InfoSparks

 

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Sunday, May 07, 2023

High-end Properties Pace Price Increase in Fallbrook and Bonsall Real Estate

Inventory Remains Well Below Average

 

FALLBROOK/BONSALL, Calif., May 7, 2023 --- April real estate prices in Fallbrook and Bonsall rose, due in large part to an increase in sales among high-end homes here, Jerry Kalman, a realtor® with HomeSmart Realty West, said today.

Average April sales at $1,028,000 were 22 percent higher than the $844,000 last month and six percent better than the $972,000 recorded in April of last year.  He said that 41 percent of the sold properties came in above $1 million and more than a fourth of those that sold above one million closed at or above their original listing price.

Forty-three percent of all the homes that sold here in all price ranges and styles closed at or above the original listing price, a slight increase over both February and March. 

Kalman said that while there is some reason for optimism following April’s surprising price increase, the local market still faces some strong headwinds proceeding further into the “selling season”.  Persistently low inventories help to prop up those prices in the face of diminished demand due to higher mortgage interest rates and overall economic uncertainty.

Last month there was a decrease in the number of transactions, falling from 63 sold properties in March to 56 in April.  In April last year, the local market recorded 85 properties selling, he said.

Average market time for all those selling here rose slightly to 39 days.  In April, 2022, the average market time was barely two weeks.

The active inventory dipped in April to 71 units, 60 of them in Fallbrook.  Only 29 properties came on the market last month; and, the average asking price for available homes rose to $2,753,000. 

Time on the market for those in the active inventory bumped up to 73 days.

In April, 39 properties entered escrow, bringing the total up to 63 homes awaiting close.  The average asking price for all those in escrow dropped seven percent to $846,000, which foretells of probable price decreases overall coming in May and June.

Three condos sold in April, two in Fallbrook.  Another nine condos, eight in Fallbrook, are in escrow after 25 days on the market.  Only one attached property in Fallbrook is in the active inventory as of May 1, 2023.

Looking further at high-end homes, 23 properties priced above a million dollars sold in April.  Those million-plus homes that sold averaged 32 days on the market.  Thirteen top-tier homes were in escrow and another 43 above the million-dollar-price-point are active.

The two-community average price-per-square-foot for million-dollar-plus homes that sold here was $421, a significant increase after two months of declines.   

 


The average selling price-per-square-foot for all homes that sold here was $379 versus $412 per-square-foot in March.  Fallbrook rose $7 to $397 per-square-foot, and Bonsall dropped 17 percent to $361 per-square-foot.  

In April of 2022, when this metric showed a peak, the two-community price-per-square-foot was $439.  Fallbrook recorded $407 per-square-foot and Bonsall was $470.

San Diego County, at $609 per-square-foot, was two percent higher than the $596 recorded in March, and six percent less than the $649 recorded in April, 2022.

Data for reporting periods ending April 30, 2023, and sourced through May 6, 2023, is 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 Fallbrook/Bonsall-focused realtor (Calif. DRE # 01328697) with HomeSmart Realty West (DRE # 01905908).  He can be reached at (760) 468-4689 (voice or text) or jerrylkalman@gmail.com.

Nationwide, HomeSmart now has more than 25,000 agents and broker associates in 49 states.  HomeSmart Realty West, with 800 of those agents operating out of four southern California offices, is headquartered at 300 Carlsbad Village Drive, Carlsbad, CA  92008.

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Charts and data courtesy of CRMLS and InfoSparks

  

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Monday, April 10, 2023

INVENTORY SHORTAGE NOT ENOUGH TO OFFSET OTHER DECLINES IN FALLBROOK AND BONSALL REAL ESTATE METRICS

 Inventory Adjusting Upward

 


 



FALLBROOK/BONSALL, Calif., April 10, 2023 --- March real estate prices in Fallbrook and Bonsall dropped ten percent from a surprisingly strong February, Jerry Kalman, a realtor® with HomeSmart Realty West, said today.

Average March sales at $844,000 were also 13 percent lower than a robust $972,000 recorded in March of last year.

In March, 2023, there was an increase in the number of transactions, rising to 63 sold properties versus 49 in February.  In March last year, which was a particularly strong month, the local market recorded 90 properties selling, Kalman noted.

Forty-one percent of the homes that sold closed at or above the original listing price, a nice rise over February.  That metric was spread throughout the selling population.

Average market time for all those selling here dropped to 37 days versus 47 in the prior month.  In March of last year, the average market time was 22 days!

The active inventory rose in March, reaching 85 units.  Thirty-nine new properties came on the market last month; and, the average asking price for available homes rose almost one million dollars to $2,434,000.  Kalman noted that a couple of high-end properties in Bonsall came on the market dramatically tilting average inventory prices up.

Time on the market for those in the active inventory was steady at 68 days.

In March, 43 properties entered escrow, bringing the total up to 76 homes awaiting close.  The average asking price for all those in escrow rose to $908,000.

Five condos sold in March, four in Bonsall.  Another seven condos, five in Fallbrook, are in escrow after 20 days on the market.  Three attached properties, all in Fallbrook, are in the active inventory as of April 1, 2023, and they are averaging 37 days on the market.

Looking at high-end homes, 15 properties priced above a million dollars sold in March.  Those million-plus homes that sold averaged 45 days on the market.  Seventeen top-tier homes were in escrow and another 45 above the million-dollar-price-point are active.

The two-community average price-per-square-foot for million-dollar-plus homes that sold here was $388, $20 lower than in February.  

The average selling price-per-square-foot for all homes that sold here was $412 versus $431 per-square-foot in February.  Fallbrook dipped $1 to $390 per-square-foot, and Bonsall dropped $38 to $433 per-square-foot.  

In April of 2022, when this metric showed a peak, the two-community price-per-square-foot was $439.  Fallbrook recorded $407 per-square-foot and Bonsall was $470.

San Diego County, at $597 per-square-foot, was six percent higher than the $564 recorded in February, and five percent less than the $628 recorded in March of 2022.

Data for reporting periods ending March 31, 2023, and sourced through April 6, 2023, is 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 Fallbrook/Bonsall-focused realtor (Calif. DRE # 01328697) with HomeSmart Realty West (DRE # 01905908).  He can be reached at (760) 468-4689 (voice or text) or jerrylkalman@gmail.com.

Nationwide, HomeSmart now has more than 25,000 agents and broker associates in 49 states.  HomeSmart Realty West, with 800 of those agents operating out of four southern California offices, is headquartered at 300 Carlsbad Village Drive, Carlsbad, CA  92008.

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Charts and data courtesy of CRMLS and InfoSparks

 

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