Escondido Real Estate: Where's the market headed?

Where is the Escondido Real Estate Market Headed as of 11-20-2009?

This week the median price for an Escondido home across all four zip codes is $415,000.  The inventory of Escondido homes for sale is going up and sales of Escondido homes are slowing.   While this is some concern, it is not unsual.  We would expect the trend to be somewhat the same across San Diego County  when going into the Thanksgiving holidays.  In recent weeks prices of Escondido houses have been moving up and the avereage days on the market have gone down somewhat.  See the chart below for trends supplied by Altos Research.

Escondido Real Estate Trends as of 11-20-2009.

Escondido Real Estate Trends as of 11-20-2009.

In the Escondido homes market, it has been a buyer’s market.  The price trending upward may be the result of  an improvement of the quality of the homes now available (for example, newer or larger homes).

Another interesting way to look at Escondido real estate sales is to look at sales by quartiles, the most expensive to the least.  In the top or first quartile the median sales price was $875,000 for 3550 esf.  In the second quartile Escondido housing prices were $508,000 for 2560 esf.  In the 3rd quartile Escondido properties had a median price of $339,000 for 1820 esf and in the bottom quartile Escondido homes had a median price of just $210,000 for 1290 esf.