Friday, June 4, 2010

Escondido, CA 92026 Property Values Have Increased 6.6% Over the Past Year

In the city of Escondido and the zip code of 92026:  The property value trend is Increasing, indicated by a median $/Sqft over the past 6 months 6.6% greater than the same period 1 year ago.  The Demand/Supply trend is In Balance, indicated by 2 months of current housing supply.  The Marketing Time trend is Under 3 months, indicated by a median marketing time of 25 days and an average marketing time of 50 days over the past 6 months.  Foreclosure activity remains high and future declines due to distressed sales is possible.  Over the past 30 days there were 57 total sales and 22 bank sales (38.6% of all sales were bank sales).  There are currently 162 bank owned homes, 225 homes in foreclosure, and 181 homes that have received a notice of default (mortgage is 60+ days late), but that are not in foreclosure.  According to the MLS there are 7 bank owned homes currently listed for sale which indicates that 95.7% of all bank owned homes are not being actively marketed in the MLS.

Brian Ward
Real Estate Appraiser
(619) 630-9273

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