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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.

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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Wednesday, June 06, 2018

NORTH SAN DIEGO COUNTY REAL ESTATE SALES VOLUME FLATTENS OUT IN MAY


NORTH SAN DIEGO COUNTY REAL ESTATE
SALES VOLUME FLATTENS OUT IN MAY

Inventory, While Up, Remains Unseasonably Low







Charts and data provided by Sandicor and 10K InfoSparks

FALLBROOK, Calif., June 6, 2018 --- Real estate markets in North San Diego County mirrored activity from April while exceeding some year-ago levels, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.
Kalman said that during May the average selling price of homes in Fallbrook and Bonsall dipped one percent from April to $640,000, but was eight percent better than May of last year.  Sales volume was equal to that of March and April at 79 units and slightly less than the 83 recorded in May of 2017.
He noted that 34 percent of the homes sold at prices equal to or greater than the original listing prices and that more than half of these transactions were either sold under VA/FHA contracts or for cash.  Overall, VA/FHA transactions represented 29 percent of those that sold while cash deals dropped to 16 percent, both slight downward ticks in activity from April. 
Entering June, 230 homes were in the active inventory, a ten percent increase over the prior month.  The asking prices of that active inventory dipped below $1 million per home, dropping to an average of $887,000 per property.
Days-on-the-market statistics were up slightly as homes that sold in May averaged 44 days before going into escrow.  Those coming off the market in May also took longer, averaging 41 days on the market. 
The average price of those heading into escrow was $699,000, a nominal increase over those off the market in April, he said.
“An important metric for any real estate market is the average selling price per square foot.  Logging an average of $293 per square foot, the local market was up six percent versus April.  Fallbrook rose that same six percent to $284 per square foot, while Bonsall was up sharply to $301 per square foot after a dip in April.”


Kalman said that the San Diego County average rose slightly to $405 per square foot.
At the high end, market activity showed improvement in active, escrow-opening and sold statuses.  Some 65 properties in the active inventory are priced above one million dollars, most of them in Fallbrook.  Nine homes in this segment closed escrow in May after 56 days on the market; eight of them were in Fallbrook.  Another 15 of these properties are in escrow, 12 with Fallbrook addresses.
At the other end of the housing spectrum, six condos sold in May after a market-average of 41 days on the market, four were in Fallbrook.  Eleven attached properties are in escrow, eight in Fallbrook; and there are 11 on the market, four in Bonsall.
Kalman´s data for the reporting periods ending May 31, 2018, and reported by June 5, 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, May 06, 2018

NORTH SAN DIEGO COUNTY REAL ESTATE PACES REGIONAL AND NATIONAL TRENDS


NORTH SAN DIEGO COUNTY REAL ESTATE
PACES REGIONAL AND NATIONAL TRENDS

May Volume and Pricing Expected to Remain Strong






Charts and Data from Sandicor and 10KInfosparks

FALLBROOK, Calif., May 6, 2018 --- Real estate markets in North San Diego County continued to reflect metrics throughout the region as volume remained at high seasonal levels while prices eclipsed both year-earlier and prior-month activity in April, Jerry Kalman, a realtor® with HomeSmart Legends here, reported today.
Kalman said that during April the average selling price of homes in Fallbrook and Bonsall rose to $653,000, a five percent increase over March and 11 percent better than April of last year.  Sales volume was essentially equal to that of March at almost 80 units and slightly less than the 86 recorded in April, 2017.
As a reflection of strong upward price pressure he said that 41 percent of the homes sold at prices equal to or greater than the original listing prices. 
He noted that VA/FHA transactions came in at 27 percent of those that sold while cash deals fell to 18 percent.  More than half of the sales were conventional transactions.
Days on the market is another indicator of the pace of activity.  Homes that closed escrow in April averaged 42 days on the market, a ten percent improvement over March.  More importantly, those coming off the market in April averaged 36 days on the market while carrying an average price of $680,000, both of which augur well for May results, he said.
“Another important metric for any real estate market is the average selling price per square foot.  Coming in at $276 per square foot, the local market was essentially flat versus March.  Fallbrook rose to $269 per square foot, while Bonsall dipped slightly after a robust March to $283 per square foot.”

According to Kalman the San Diego County average rose to $402 per square foot, which was a steady 31 percent higher than the more affordable part of North San Diego County, Fallbrook and Bonsall.
Entering May, 203 homes were in the active inventory, a slight drop from March as the number coming off the market exceeded additions to the local supply of homes.  That active inventory carried an average selling price of more than $1 million per home, once again.
New home developments along the Interstate 15 corridor are beginning to make a noticeable contribution to local results as many detached properties in several tracts come on the market and are sold.  While representing only five percent of the sales in April and a comparable percentage in the available inventory of homes, these properties are expected to become a more significant percentage of transactions in the months to come.
Among other homes in the active inventory market, 58 properties are priced above one million dollars, most of them in Fallbrook.  Ten homes in this segment closed escrow in April after just over 50 days on the market; eight of them were in Fallbrook.  Another 11 of these properties are in escrow now, nine with Fallbrook addresses.
At the other end of the housing spectrum, six condos sold in April after an average of 15 days on the market; four were in Fallbrook.  Another eight are in escrow, six in Fallbrook; and there are nine on the market, all but one in Fallbrook.
Kalman´s data for the reporting periods ending April 30, 2018, and reported by May 6, 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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