Escondido, San Diego, Real Estate Market Trends And Community Information, August 2006
Author: Real Estate Prosbr
Source: articledashboard.combr
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COMMUNITY INFORMATION
Escondido is situated in the northern inland part of San Diego County within the state of California. There are approximately 165,992 residents in these Zip codes (92025, 92026, 92027, 92029) and 53,641 households. The median age of residents is 33.36 years.
TEMPERATURE
The temperature in Escondido is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 76?F. The coldest time of year occurs in December and January with average temperatures falling to 55?F.
HOME AND REAL ESTATE PRICES
The housing options in Escondido include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:
? One bedroom townhouse/condominium start in the high $100,000s.
? Two bedroom townhouse/condominium start in the low $200,000s.
? Three bedroom townhouse/condominium start in the high $200,000s.
? Two bedroom single-family homes start in the low $300,000s
? Three bedroom single-family homes start in the mid $300,000s
? Four bedroom single-family homes start in the mid $400,000s
REAL ESTATE MARKET TRENDS
As with most products and services in the United States, price shifts in the real estate industry are subject to the forces of supply and demand. Whether its a buyers market or a sellers market, it is useful to evaluate home sales data for the most recent month available (June 2006), compared against the same period in the previous year (June 2005). The data below was obtained from Dqnews, and covers real estate sales data for June 2006.
For the 92025 Zip Code, the median price of resale single-family homes in June 2006 was $608,500, which represents a 21.9% increase from the pervious year. A total of 28 homes for were sold in June 2006. For resale condominiums, the median price in June 2006 was $324,000, which represents a 2.5% decline from the previous year. A total of 10 condominiums sold in June 2006. For new construction single-family homes and condominiums combined, the median price in June 2006 was $544,500, which represents a 31.3% drop from the previous year. A total of 2 new properties were sold in June 2006.
For the 92026 Zip Code, the median price of resale single-family homes in June 2006 was $514,000, which represents a 0.8% increase from the pervious year. A total of 35 homes for were sold in June 2006. For resale condominiums, the median price in June 2006 was $300,000, which represents a 14.5%decline from the previous year. A total of 10 condominiums sold in June 2006. For new construction single-family homes and condominiums combined, the median price in June 2006 was $718,000, which represents a 19.7% increase from the previous year. A total of 6 new properties were sold in June 2006.
For the 92027 Zip Code, the median price of resale single-family homes in June 2006 was $490,000, which represents a 6.8% increase from the pervious year. A total of 55 homes for were sold in June 2006. For resale condominiums, the median price in June 2006 was $298,000, which represents a 6.4% increase from the previous year. A total of 7 condominiums sold in June 2006. For new construction single-family homes and condominiums combined, the median price in June 2006 was $951,000, which represents a 27.2% increase from the previous year. A total of 5 new properties were sold in June 2006.
For the 92029 Zip Code, the median price of resale single family homes in June 2006 was $636,000, which represents a 2.6%increase from the pervious year. A total of 18 homes for were sold in June 2006. For resale condominiums, the median price in June 2006 was $315,000, which represents a 17.6% decline from the previous year. Only 1 condominium sold in June 2006.
Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to understand enduring market trends./pbr
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