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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.

Monday, January 07, 2019

PRICES AND VOLUME DIP AS YEAR-END MALAISE AFFECTS LOCAL REAL ESTATE MARKETS IN FALLBROOK AND BONSALL


Extreme Discounting in All Segments Takes Place of Premium Pricing



Charts and data provided by CRMLS and 10K InfoSparks

FALLBROOK, Calif., Jan. 7, 2019 --- Home prices and volume declined and properties going into escrow also dropped as 2018 ended on several down notes for the year, Jerry Kalman, a realtor® with HomeSmart Legends, reported today.
Average prices at $613,000 in Fallbrook and Bonsall were three percent less than November 2018, and another three percent below December of 2017, he said.  Time to sell continued to stretch out as that important benchmark rose well above two months to 79 days.
According to Kalman, a couple of the homes that sold in this part of North San Diego County were new properties on the east side of Fallbrook, in sharp contrast to November when home sales there made a major contribution to local results.
As is often typical at the end of the year, extreme discounting can occur, and December of 2018 was no exception as several older homes saw discounts of 20 percent or more when sold.
Another 18 percent of the homes sold at prices equal to or greater than the original listing prices, he reported, and that none of them were new construction.  Overall, VA/FHA/USDA transactions represented 35 percent of those that sold while cash deals were at 20 percent. 
According to Kalman, it appears that the surge among VA/FHA properties might have been affected by the specter of a government shutdown that loomed over much of December and now into 2019.
He reported that 58 homes are in escrow here, 11 fewer than the prior month; and 32 went into escrow in December.  Eleven of those escrows were in the new projects along Interstate 15 and that indicates a positive affect among January and February results. 
The average price of all those in escrow entering the new year was $575,000, a nine percent drop from November. 
Kalman expects the inventory in January to rebound as many residents and their agents restore properties removed during the slow holiday period.  He noted that many realtors “window-dress” their existing listings with new MLS numbers to make them appear fresh in the new year. 
Entering January, approximately 238 homes were in the active inventory, with 15 units among new construction along the I-15 corridor.  Overall, Bonsall accounted for 30 properties listed at year-end while the larger community of Fallbrook had the remainder of homes on the market.
 “Average price per square foot helps realtors value homes in highly diverse communities like Fallbrook and Bonsall,” he reported.  “Logging an average of $275 per square foot in December, sold properties in the local market dropped three percent from $283 in November.  Fallbrook lost a point to $269 per square foot, while Bonsall, with six transactions in the period, dropped five percent to $280 per square foot.”

Kalman said that the San Diego County average decreased from $399 to $388 per square foot among sold homes.
At the high end, four homes priced over one million dollars closed escrow in December, two in each community.  The average market time for those homes that sold was almost two months, the improvement in market-time in this category he attributed to one home that was immediately sold outside the local MLS. 
Another four million-dollar-plus homes are in escrow, all in Fallbrook.  More than 60 are in the active inventory, averaging almost four months on the market.
At the other end of the spectrum, four condos sold in December, two in each community.  The condos that sold were on the market 41 days and carried an average price per square foot of $293.  He said that five attached properties are in escrow, four of them in Fallbrook.  The inventory of active condo listings rose to 18 units, six in the new complexes east of the freeway.
Kalman´s data for the reporting periods ending December 31, 2018, and reported by January 7, 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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Thursday, December 06, 2018

KEY NORTH SAN DIEGO COUNTY MARKET BUCKS REGIONAL TREND AS PRICES AND VOLUME REMAIN FIRM



KEY NORTH SAN DIEGO COUNTY MARKET BUCKS
REGIONAL TREND AS PRICES AND VOLUME REMAIN FIRM

New Homes in Developments along I-15 Bolster Local Results








Charts and data provided by CRMLS and 10K InfoSparks

FALLBROOK, Calif., Dec. 6, 2018 --- Home prices improved and volume steadied as several sales within new developments along the I-15 corridor bolstered the local real estate market here, Jerry Kalman, a realtor® with HomeSmart Legends, reported today.
Average prices at $632,000 in Fallbrook and Bonsall were four percent over October, 2018, and a scant one percent above November of last year, he said.  Time to sell continued to decline as that important benchmark touched two months.
According to Kalman, 20 percent of the homes that sold in this part of North San Diego County were new properties on the east side of Fallbrook and their three-month market-times also affected overall market results. 
He said that overall one fourth of the homes sold at prices equal to or greater than the original listing prices, and that three of them were new construction.  Overall, VA/FHA/USDA transactions represented 24 percent of those that sold while cash deals were at 14 percent, both values below the range for most of 2018. 
He noted that 67 homes are in escrow here, two fewer than the prior month; and 49 went into escrow in November.  Nine of those escrows were in the new projects along Interstate 15. 
The average price of all those in escrow entering November was $630,000, a six percent drop from October.
According to Kalman, the inventory in December tends to deflate as many residents and their agents remove properties during the slow holiday period.  Entering December, approximately 310 homes were in the active inventory, about five percent were new construction.  Bonsall accounted for 35 properties while the larger community of Fallbrook had the remainder of homes on the market.
 “Average price per square foot helps realtors value homes in highly diverse communities like Fallbrook and Bonsall,” he reported.  “Logging an average of $284 per square foot in November, the local market was essentially the same as in October.  Fallbrook rose slightly to $297 per square foot, while Bonsall, with seven transactions in the period, dipped nine percent to $271 per square foot.”


Kalman said that the San Diego County average decreased to $399 per square foot.
At the high end, three homes priced over one million dollars closed escrow in November, all in Fallbrook.  The average market time for these homes that sold approached four months.  Another 10 of these properties are in escrow, eight in Fallbrook.  Almost 75 are in the active inventory, averaging more than three months on the market.
Four condos sold in November, two in each community.  These selling condos were on the market less than a month and carried an average price per square foot of $276.  He said that six attached properties are in escrow, four of them in Fallbrook.  The inventory of active condo listings rose to 24 units, seven in the complex east of the freeway.
Kalman´s data for the reporting periods ending November 30, 2018, and reported by December 5, 2018, 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. BRE # 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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Monday, November 05, 2018


REAL ESTATE SOFTENS AS KEY NORTH SAN DIEGO COUNTY MARKET MIRRORS ACTIVITY IN THE REGION AND IN OTHER MAJOR MARKETS

Time on Market Approaches Two Months








FALLBROOK, Calif., Nov. 5, 2018 --- Home prices and volume declined as a combination of diminishing seasonal activity and a tired market affected the local real estate market here, Jerry Kalman, a realtor® with HomeSmart Legends, reported today.
Average prices at $608,000 in Fallbrook and Bonsall declined three percent over October a year ago and versus the prior month, he said.  Time to sell also declined as that important benchmark rose to almost a full two months, a week longer than in September of this year.
According to Kalman, 18 percent of the homes sold at prices equal to or greater than the original listing prices and half of these transactions were sold under VA/FHA/USDA contracts, levels well below those achieved earlier in 2018.  Overall, VA/FHA/USDA transactions represented 25 percent of those that sold while cash deals were at 18 percent, both values remained within the range for most of 2018. 
He noted that 69 homes are in escrow here, 17 fewer than the prior month.  Of those 69 homes coming off the market, 43 went into escrow in October.  The average price of all those in escrow entering November was $666,000, a nice rebound of 14 percent from an especially soft September.  This upward bump in escrow prices could alleviate some of the downward pressure on market activity heading into December, he said.
Entering October, approximately 350 homes were in the active inventory.  Bonsall accounted for 30 properties while the larger community of Fallbrook had about 320 homes on the market.
 “Average price per square foot helps realtors value homes in highly diverse communities like Fallbrook and Bonsall,” he reported.  “Logging an average of $282 per square foot in October, the local market was flat versus September.  Fallbrook increased slightly to $293 per square foot, while Bonsall, with 11 transactions in the period, declined to $271 per square foot.”


Kalman said that the San Diego County average decreased two dollars to $400 per square foot.
At the high end, four homes priced over one million dollars closed escrow in October, two in each community.  The average market time for these homes that sold approached four months and the average price per square foot dropped to $271.  Another six of these properties are in escrow, five in Fallbrook.  Almost 70 are in the active inventory, averaging more than three months on the market.
Four condos sold in October, all in Bonsall.  These selling condos were on the market slightly more than a month and carried an average price per square foot of $284.  He said that six attached properties are in escrow, four of them in Bonsall.  The inventory of active condo listings rose to 20 units with an average market time of two months.
Kalman´s data for the reporting periods ending October 31, 2018, and reported by November 4, 2018, 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. BRE # 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.

Charts and data provided by CRMLS and 10K InfoSparks


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Friday, October 05, 2018

REAL ESTATE PRICES DECLINE FROM AUGUST LEVELS ALONG WITH VOLUME IN KEY NORTH SAN DIEGO COUNTY MARKET


REAL ESTATE PRICES DECLINE FROM AUGUST LEVELS ALONG WITH VOLUME IN KEY NORTH SAN DIEGO COUNTY MARKET

Time on Market Improves While Still at Just Under Two Months







Charts and data provided by CRMLS and 10K InfoSparks

FALLBROOK, Calif., Oct. 5, 2018 --- As the market for mid-range and high-end homes cooled, prices and volume in a key North San Diego County market declined at a rate that exceeded seasonal activity, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.
He said that average prices at $627,000 in Fallbrook and Bonsall rose four percent over year-ago levels but were six percent lower than August.  Meanwhile time to sell improved slightly to 51 days from 56 in August but that measure was still a full week slower than in September of 2017.
According to Kalman, 23 percent of the homes sold at prices equal to or greater than the original listing prices and more than half of these transactions were sold under VA/FHA/USDA contracts.  Overall, VA/FHA/USDA transactions represented 29 percent of those that sold while cash deals remained at 16 percent, a level sustained for most of 2018. 
He said that 86 homes are in escrow here, with 49 coming off the market in September, a continuation of declines from peak summer levels.  The average price of all those heading into escrow last month was $584,000, a serious decrease of more than 12 percent from the prior month.  These drops in escrow prices and volume foretell of softer prices and volume in October that could extend into November, he said.
Entering October, approximately 340 homes were in the active inventory.  The average asking price of that active inventory remained above $1 million per home.  Bonsall accounted for 35 properties while the larger community of Fallbrook had more than 300 homes on the market.
 “Average price per square foot is a metric that helps realtors value homes in highly diverse communities like Fallbrook and Bonsall.  Logging an average of $282 per square foot in September, the local market was down six percent versus August.  Fallbrook increased slightly to $273 per square foot, meanwhile Bonsall, with only six transactions in the period, declined 14 percent to $290 per square foot,” he reported.

 

Kalman said that the San Diego County average increased to $402 per square foot.
At the high end, three homes priced over one million dollars closed escrow in September; two of them were in Fallbrook.  The average market time for these homes that sold approached three months.  Another eight of these properties are in escrow, five in Fallbrook.  More than 70 are in the active inventory, averaging nearly four months on the market.
Five condos sold in September, three in Bonsall, and they were on the market an average of 52 days; however, only four attached properties are in escrow, three of them in Bonsall.  The inventory of active condo listings is up to 16 units with ten in Bonsall.
Kalman´s data for the reporting periods ending September 30, 2018, and reported by September 4, 2018, came from Sandicor, Inc. and CRMLS, San Diego and Riverside counties’ multiple listing services for 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. BRE # 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, September 05, 2018

NORTH SAN DIEGO COUNTY REAL ESTATE PRICES REMAIN FIRM AS VOLUME CONTINUES TO DECLINE HEADING INTO FALL


NORTH SAN DIEGO COUNTY REAL ESTATE PRICES REMAIN FIRM

AS VOLUME CONTINUES TO DECLINE HEADING INTO FALL


Time on Market Steady at Just Under Two Months






FALLBROOK, Calif., Sept. 5, 2018 --- North San Diego County real estate remains strong despite a seasonal slow-down as prices rose in August and market time stayed under two months, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.
He said that average prices at $675,000 in Fallbrook and Bonsall rose nine percent over year-ago levels and were two percent better than July.  Meanwhile time to sell remained at just under two months, the same number of days to go from active listings to sold properties in both July 2018 and August 2017.
According to Kalman, 23 percent of the homes sold at prices equal to or greater than the original listing prices and more than half of these transactions were sold under conventional contracts.  VA/FHA transactions represented 26 percent of those that sold while cash deals represented 16 percent. 
He said that 93 homes are in escrow here, with 62 coming off the market in August, both declines from a more active July.  The average price of all those heading into escrow last month was $670,000, another decrease over the prior month, he said.
Entering September, approximately 330 homes were in the active inventory.  The average asking price of that active inventory held above $1 million per home.  Bonsall accounted for 32 properties while the larger community of Fallbrook close to 300 homes on the market.
 “Average price per square foot is a metric that helps realtors value homes in highly diverse communities like Fallbrook and Bonsall.  Logging an average of $300 per square foot in August, the local market was up seven percent versus July.  Fallbrook dropped slightly to $268 per square foot, while Bonsall, with only six transactions in the period, rose 14 percent to $331 per square foot,” he reported.
Kalman said that the San Diego County average remained at $398 per square foot.

Charts and Data Courtesy of Sandicor, Inc. and 10K InfoSparks

At the high end, six homes priced over one million dollars closed escrow in August; five of them were in Fallbrook.  The average market time for these homes that sold was 41 days.  Another nine of these properties are in escrow. 
Three condos sold in August, all in Fallbrook, and they were on the market an average of 39 days; however, nine attached properties are in escrow, eight of them in Bonsall.   
Kalman´s data for the reporting periods ending August 31, 2018, and reported by September 4, 2018, came from Sandicor, Inc. and CRMLS, San Diego and Riverside counties’ multiple listing services for 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. BRE # 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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Sunday, August 05, 2018



NORTH SAN DIEGO COUNTY REAL ESTATE BEGINS
SECOND HALF SLOW DOWN WITH VOLUME DIP

Inventory Surges as Homes Stay on Market Longer, Prices Rise








Charts and data provided by Sandicor and 10K InfoSparks

FALLBROOK, Calif., August 5, 2018 --- Real estate markets in North San Diego County entered the second half of the year with a small decline in volume while time on the market increased, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.
Kalman said that it was too soon to tell whether that July softening was part of a seasonal slowdown or suggests an overall topping-out of the market.  He noted that during July the average selling price of a home in Fallbrook and Bonsall rose slightly from June.  Volume was off a small amount, and 11 percent less than recorded in July, 2017.
According to Kalman 35 percent of the homes sold at prices equal to or greater than the original listing prices and more than half of these transactions were sold under conventional contracts.  VA/FHA transactions represented 29 percent of those that sold while cash deals represented 16 percent, repeating a year-long trend. 
Average market-time for homes that sold in July neared two months.
He said that 90 homes are in escrow here, with 60 coming off the market in July.  The average price of those heading into escrow in July was $691,000, a nominal decrease of one percent over those off the market in June, he said.
Entering August, more than 330 homes were in the active inventory.  The average asking price of that active inventory held above $1 million per home.  Bonsall accounted for 40 properties while the larger community of Fallbrook has 305 homes on the market.
 “Average price per square foot is a metric that helps realtors value homes in highly diverse communities like Fallbrook and Bonsall.  Logging an average of $281 per square foot, the local market was up six percent versus June.  Fallbrook had a small rise to $271 per square foot, while Bonsall, with only eight transactions in the period, rose 16 percent to $290 per square foot,” he reported.
Kalman said that the San Diego County average price per square foot dipped to $398 per square foot.



At the high end, ten homes priced over one million dollars closed escrow in July; eight of them were in Fallbrook.  The average market time for these homes that sold approached four months.  Another 13 of these properties are in escrow, with nine more coming off the market last month. 
Five condos sold in July, three in Bonsall, and they were on the market an average of 32 days.  Two attached properties are in escrow, one in each community.  Both came off the market in July. 
He said that 16 condo-styled homes are in the active inventory with an average market time of close to two months.
Kalman´s data for the reporting periods ending July 31, 2018, and reported by August 4, 2018, came from Sandicor, Inc. and CRMLS, San Diego and Riverside counties’ multiple listing services for 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. BRE # 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, July 11, 2018



JUNE NORTH SAN DIEGO COUNTY REAL ESTATE
HOLDS STEADY AS PRICES RISE

Inventory at Apparent Equilibrium








FALLBROOK, Calif., July 11, 2018 --- Real estate markets in North San Diego County started the summer months with rising prices and steady volume, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.
Kalman reported that during June the average selling price of a home in Fallbrook and Bonsall rose four percent over May and six percent over June of 2017 to $663,000.  Sales volume was equal to that of May at 82 units and 22 percent less than 105 recorded in June of 2017.
He noted that 40 percent of the homes sold at prices equal to or greater than the original listing prices and half of these transactions were sold under conventional contracts.  VA/FHA transactions represented 22 percent of those that sold while cash deals dipped to 12 percent. 
Entering July, 262 homes were in the active inventory, a 14 percent increase over the prior month.  The asking prices of that active inventory held above $1 million per home, rising to an average of $1,085,000 per property.  Bonsall accounted for 39 properties while the larger community of Fallbrook has 223 homes on the market.
Days-on-the-market statistics improved slightly as homes that sold in June averaged 41 days before going into escrow.  Those coming off the market in May took longer, averaging 44 days on the market. 
The average price of those heading into escrow was $701,000, a nominal increase over those off the market in May, he said, and the average market time is expected to approach two months by the end of the summer selling season.
“Average price per square foot is a metric that helps value homes in highly diverse communities like Fallbrook and Bonsall.  Logging an average of $265 per square foot, the local market was down ten percent versus May, which was a high mark for the year.  Fallbrook had a small drop to $280 per square foot, while Bonsall, with only ten transactions in the period, slipped 17 percent to $249 per square foot.”

Kalman said that the San Diego County average price per square foot rose slightly to $408 per square foot.
At the high end, 14 homes priced over one million dollars closed escrow in June; 11 of them were in Fallbrook.  Another 15 of these properties are in escrow, with 11 more coming off the market last month.
Nine condos sold in June, seven were in Fallbrook, and they were on the market an average of 44 days.  Three attached properties are in escrow after an average of 24 days in the active inventory, while none came off the market in June.
Kalman´s data for the reporting periods ending June 30, 2018, and reported by July 10, 2018, came from Sandicor, Inc. and CRMLS, San Diego and Riverside counties’ multiple listing services for 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. BRE # 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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