Friday, January 22, 2010

Escondido Property Values Steady and Show Signs of Appreciation

In the city of Escondido, CA, property values have steadied over the past 6 months and are showing signs of appreciation.  There are currently 3 months of inventory and properties are selling in an average of 40 days.  In the Escondido zip code of 92027 there are 172 bank owned homes, 311 properties in foreclosure, and 285 properties that have received a notice of default, but are not in foreclosure.  Based on 22 bank sales over the past month, there are 8 months of bank owned inventory and 27 additional months of potential bank owned inventory from properties in the foreclosure process.  These statistics indicate future declines are possible.  Property values remain at pre-2004 levels.

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