North San Diego County real estate prices soften & market times increase going into the fourth quarter of 2018

FALLBROOK – North San Diego County real estate continues an expected slowdown in number of homes sold and homes are taking longer to sell heading into fall. The average price per square foot has increased year over year continuing to make Real Estate a great investment tool, Jean Esop, a Realtor with Coldwell Banker Village Properties in Bonsall, reported last week.

Some economists state that 2018 might be the final period in a long string of happy years for the housing industry. Although residential real estate should continue along a mostly positive line for the rest of the year, rising prices and interest rates coupled with a generational trend toward home purchase delay or disinterest could create an environment of declining sales.

Here in the Bonsall – Fallbrook marketplace, we represent a unique pocket and cannot be compared with other areas in Southern California or even San Diego county.

Esop said the average sale price in Fallbrook for September was down 1.2 percent while Bonsall was down 13 percent as compared to one year ago. However, the average price per square foot was up for both Bonsall and Fallbrook when compared to 2017! According to Esop, 4 percent of the homes sold at prices equal to or greater than their original listing price. Short sales were up 29.7 percent in the last 12 months while foreclosures were down 19.5 percent.

Entering October, approximately 230 homes were in active inventory for Fallbrook and Bonsall had 29 homes listed for sale. Fallbrook had 59 sales in September while Bonsall logged eight of which one was a foreclosure sale.

Esop’s data for the reporting period ending Sept. 30, 2018, and reported by Oct. 8, 2018, came from Sandicor, Inc. and San Diego county multiple listing service for Realtors. This report represents properties listed or sold by various brokers in the region.

She uses this information as a community service to analyze market trends and provide professional insight into real estate activity. Esop is a licensed Realtor (Calif. BRE#01003649) in the North County office of Coldwell Banker Village Properties, 5256 S. Mission Road, Ste 310, Bonsall, at (760-699-1135) (voice or text) or [email protected].

Coldwell Banker Village Properties, founded in 1917, has 30+ agents locally, closed over 6000 transactions generating $2 billion locally in sales, and more than 92,000 agents in 47 countries with over 3000 offices worldwide.

Submitted by Coldwell Banker Village Properties