Bonsall/Fallbrook Homes

NORTH SAN DIEGO COUNTY REAL ESTATE ACTIVITY STARTS YEAR ON CAUTIOUS NOTE

2012-02-09T08:40:00.000-08:00

FALLBROOK, Calif., Feb. 8, 2012--- Real estate activity in North San Diego County entering 2012 slowed as a December rush of closings stole momentum from the first month of the new year, Jerry Kalman, realtor® at The Jacques Company here, reported today.
“Of homes neither lender-owned nor a short sale, the average selling price was $533,000, a 59 percent increase over the prior month. The percentage of short sale and lender-owned homes in January exceeded that of traditional sales by a small margin," he said.
Discounting occurred in all segments as average selling prices in Fallbrook and Bonsall declined seven percent from January 2011 levels to $387,000. January prices were 16 percent higher than December 2011. Overall, prices varied by an average of 13 percent from those at the original listing. Three properties, one in each segment, sold for more than the original asking price.
Kalman said the single-family residential inventory drifted down to 242 properties, a seven and a half month supply based on January results. The average asking price of the inventory was $719,000, roughly the same as in December.
"The decrease in inventory runs contrary to past years, and we still expect a surge of 'new' listings to come onto the market in the remainder of the first quarter. In addition, we expect foreclosure volume to continue to rise in the first quarter as lenders lift their holiday moratorium and aggressively move many short sale listings into a foreclosed status."
The number of homes in escrow entering February decreased to 79 properties as 40 came off the market in January. The average asking price of those off the market was $379,000, or $161 per square foot, roughly the same as the prior month.
Kalman said that in January it took an average of 56 days from the original listing to sell lender-owned properties and 64 days to move a traditional transaction into escrow. The average time for short sales on the market was 202 days.
In the segment where first time buyers and investor activity occurs, two condominiums, both in Fallbrook, sold. Five condos were in escrow. Entering February, the active inventory of condos was 16 units, seven in Fallbrook and nine in Bonsall. The average asking price of the inventory was $198,000, or $124 per square foot.
Comparing Fallbrook-Bonsall with nearby North San Diego County markets, Kalman said homes that sold here in January at $163 per average square foot trailed $243 in Carlsbad, $187 in San Marcos, $178 in Oceanside and $173 in Vista but bettered $161 in Escondido. Fallbrook and Bonsall were the only communities to show improvements in December.
Kalman´s data for the reporting periods ending January 31, 2012, came from Sandicor, Inc., the area's multiple listing service for realtors. It represents properties listed or sold by various brokers in San Diego County. He uses this information to analyze the market and provide professional insight into real estate dynamics and trends as a community service.
Jerry Kalman is a licensed realtor (Calif. DRE # 01328697) based in the Fallbrook office of The Jacques Company. Reach him at (760) 468-4689 or jerry@jerrykalman.com.

Real Estate Activity Features Year-End Surge of Traditional Sales, Kalman Reports

2012-01-08T14:18:00.000-08:00

REAL ESTATE ACTIVITY FEATURES YEAR-END SURGE OF TRADITIONAL SALES
IN NORTH SAN DIEGO COUNTY, KALMAN REPORTS

FALLBROOK, Calif., Jan. 9, 2012--- Real estate activity in North San Diego County ended the year on a high note as rising traditional sales accounted for half the sales activity in December, Jerry Kalman, realtor® at The Jacques Company here, reported today.
“Of homes neither lender-owned nor a short sale, the average selling price was $336,000, a 28 percent decrease from the prior month. The volume of short sale transactions increased in December while REOs declined to 15 percent of the sales," he said.
Heavy discounting occurred as average selling prices in Fallbrook and Bonsall declined from December 2010 levels to $334,000. December prices were also lower than November 2011. Overall, prices varied by an average of 16 percent from those at the original listing. The steepest declines were most notable among short sales. Eight properties, most of them traditional sales, sold for more than the original asking price, indicating possible multiple offers.
Comparing all of 2011 with 2010, he reported that residential sales volume was flat while prices were up four percent. In the prior year, volume received a boost from tax credits for first-time homebuyers that expired in mid-2010.
Kalman said the single-family residential inventory here decreased to 238 properties, a four and a half-month supply based on December results. The average asking price of the inventory was $730,000, a marginal increase over November.
"The drop in inventory is seasonal, and we expect a surge of 'new' listings coming back online in the first quarter as traditional sellers bring their homes back on the market. In addition, we expect foreclosure volume to rise in the first quarter as lenders lift their holiday moratorium and aggressively move many short sale listings into a foreclosed status."
The number of homes in escrow entering January decreased to 72 properties as 37 came off the market in December. The average asking price of those off the market was $370,000, or $163 per square foot, slight increases over the prior month.
Kalman said that in December it took an average of 36 days from the original listing to sell lender-owned properties and 63 days to move a traditional transaction into escrow. Short sale times on the market increased, rising to an extraordinary seven months while on the market.
In the segment where first time buyers and investor activity occurs, two listed condominiums sold locally. Two in each community, were in escrow. Entering January, the active inventory of condos was 13 units, seven in Fallbrook and six in Bonsall.
Comparing Fallbrook-Bonsall with nearby North San Diego County markets, Kalman said homes that sold here in December at $156 per average square foot trailed $247 in Carlsbad, $188 in San Marcos, $186 in Oceanside, $178 in Vista and $169 in Escondido.
Kalman´s data for the reporting periods ending December 31, 2011, came from Sandicor, Inc., the area's multiple listing service for realtors. It represents properties listed or sold by various brokers in San Diego County. He uses this information to analyze the market and provide professional insight into real estate dynamics and trends as a community service.
Jerry Kalman is a licensed realtor (Calif. DRE # 01328697) based in the Fallbrook office of The Jacques Company. Reach him at (760) 468-4689 or jerry@jerrykalman.com.

NOVEMBER REAL ESTATE REPORT FOR FALLBROOK/BONSALL

2011-11-08T09:03:00.001-08:00

REAL ESTATE ACTIVITY SLOWS AND PRICES FLATTEN

IN NORTH SAN DIEGO COUNTY, KALMAN REPORTS

FALLBROOK, Calif., Nov. 8, 2011--- Real estate activity in North San Diego County slackened in October as volume decreased, which is typical in the last quarter of the year, Jerry Kalman, realtor® at The Jacques Company here, reported today.

Average selling prices in Fallbrook and Bonsall decreased six percent from September to $379,000. In comparing current year prices with those a year ago, October 2011 was two percent higher than October 2010.

“Traditional home sales continued to outpace foreclosed and short sale properties as one half of the volume came from these sellers. Of homes neither lender-owned nor a short sale, the average selling price was $445,000, a 47 percent increase from the prior month. Short sale transactions declined in October while REOs accounted for 30 percent of the sales," he said.

For the most part, prices varied by an average of 13 percent from those at the original listing as heavy discounts occurred among all three categories of transactions with the steepest most notable among short and traditional sales.

Kalman said the single-family residential inventory here increased slightly to 286 properties, a ten-month supply based on October results. He noted that the inventory drops in the final months of the year as many traditional sellers wait until the new year to list their homes. The average asking price of the inventory was $707,000, a slight decrease from September.

The number of homes in escrow at month-end declined to 62 properties as 32 came off the market during October. The average asking price of those off the market decreased to $395,000, or $174 per square foot.

Looking at September transactions, Kalman said it took an average of 40 days from the original listing to sell lender-owned properties and 110 days to move a traditional transaction into escrow. Short sales decreased to 170 days. He noted that these are market times as opposed to durations while transactions are in escrow.

In the market segment where first time buyers and investor activity concentrates, five condominiums sold, three in Bonsall, carrying an average selling price of $155,000, or $130 per square foot. Two condos, one in each market, were in escrow. Entering November, the active inventory of condos was 15 units, seven in Fallbrook and eight in Bonsall.

Comparing Fallbrook-Bonsall with other nearby North San Diego County communities, Kalman said homes that closed escrow here in October at $160 per average square foot trailed the $251 in Carlsbad, $188 in Oceanside, $186 in San Marcos, $181 in Vista and $165 in Escondido.

Kalman´s data for the reporting periods ending October 31, 2011, came from Sandicor, Inc., the area's multiple listing service for realtors. It represents properties listed or sold by various brokers in San Diego County. He uses this information to analyze the market and provide professional insight into real estate dynamics and trends as a community service.

Jerry Kalman is a licensed realtor (Calif. DRE # 01328697) working out of the Fallbrook office of The Jacques Company. Reach him at (760) 468-4689 or jerry@jerrykalman.com.