Fallbrook Real Estate Market Update January 2014

Fallbrook Real Estate Market Data

For January 2014

In this informative video, you’ll get the latest news in Fallbrook real estate activity with this real estate market update video from Michael Gaddis, J.D. Realty Group. If you are thinking of buying or selling a home in Fallbrook, Ca this information will help you know how to price your home correctly or plan a strategy in making an offer in the current market. Look for updated real estate updates in Fallbrook bi-monthly. For help with all your North County San Diego real estate needs call 760.487.8266 or email contact@michaelgaddis.com to let us assist you.

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FALLBROOK REAL ESTATE MARKET UPDATE VIDEO TRANSCRIPT

**This transcript is auto generated by YouTube, pardon any errors, it’s just a poor machine.

 Hi I’m Michael Gaddis your Fallbrook real state expert. Today I’d like to talk about the  current state of the real estate market in Fallbrook as a January 17 2014. I took the liberty of pulling all this data that I’m going to talk about from the SANDICOR MLS. I pulled all the active, contingent, pending and sold listings with the sold listings occurring between December 1st and  today which is January 17 on as of today. There are a hundred and seventy active listings in Fallbrook ranging in price from 5.75 million  to a low of 239,000 and the could be average a house involve a great now that’s for sale is 2,974 square feet the average list price is 750 one thousand dollars. In the average list price per square foot is 246 dollars  a square but the average days on market for these listings is 89 days, so they’re sitting on the market a little bit probably due to the time of the year so it’s wintertime and so you know homes typically sell a bit slower in December  and January. So I expect that number to go down a little bit here in the near future. There are currently 12 contingent  listings  involved right contingent listings. For those you do not know our listings that require lender approval are some sort of approval in the quarter lender approval they usually reflect a short sales and witch Creek wire the lien holders approvals for the short sale. So on the 12 listings that are is currently in contingent status  the square foot ranges from five thousand 462  with a list price of the hundred ninety seven thousand to a lower 928 square feet with a price of $299 Dowson the average contingency all square footages 2,896 square feet. The average list price is 550 3,000 in the average list price per square foot for the contingent listings as two hundred dollars and 78 cents  with the average days on market being 226 days. Two things I’d like to point out about that wonders if you notice the list price per square foot for the active listings was two hundred forty six dollars a square foot versus the two hundred dollars per square foot in the contingent listings  that’s not all that unusual on, because obviously contingent listings are usually price a little bit lower on you for several reasons. Sometimes just you try to get to buyers and there’s an inducement to you know per listing a little bit below market in sometimes the condition the houses are quite what they are for equity sales an active listings, so there is a difference between mister square foot on but as we look at the pending listings will see where the square footage whether the square footage is consistent with. The contention are active listings  the 27 there are 71 pending listings in Fallbrook as a January 17  with the highlight being a 1.5 $7.9 million dollar house to 6,200 94 square foot house on the low being a 210,000 our house with a square foot 824 square P  the average houses pending right now is 2300 83 square feet a list price:  543 thousand 418 price per square foot  239 dollars and four cents with an average market time at eighty-three days. So the average price per square foot for the pending listings is very consistent  are very close to what the active listings are which is much higher than what the contingent listings are that doesn’t mean necessarily the contention listings are gonna come in  where their  where the list prices the bank could counter back in could raise that this price up are on the list price per square foot up. But let’s see what the sold listings did sold listings  there are currently from December first 2013 to January 17 there were 71 home sold in Fallbrook a the largest being a five thousand eight hundred and twenty seven square  foot house for 1.15 million other list. The sold price on that particular property  that was the list price: the sold price is nine hundred and sixty thousand  dollars within with the sole price per square foot 591 dollars per square foot which  is really high on the low that was sold was a $499 square foot home for two and 34,000  I solar that was with the list price was the sole price was 241,000.  I’ll and the average for sales price per square foot worse 138 dollars and twelve said so that is completely  is significantly lower than the you know the list price per square foot of the active and contingent  listings which is around 240 or so the average sort listings which is probably a better indicator  really what’s going on was  on the square footage was 2,411. The average home that was sold the average list price the homes that were so was 520,000  the average sold price a list price versus the sold price the average sold  price was 500 and 2000  so the average sold price was about eighteen thousand dollars less than what  the average  list price was so how’s it going for a little bit lower on average than what  they are actually  being at listed for the sold price per square foot. I came out to be the average came out to be two hundred seventeen dollars a square foot so on you know that can give you a pretty good indication have a what the price per square foot is on average in India even in relation to the pending and the media  and the active listings the average amount a market time on for the houses was 63 days for the sold listings. So that gives you a pretty good idea of what’s going on. It seems like prices  you know our are at least based on price per square foot are being listed in pending at much higher than what the actual sold much  that occurred  for December and January so looks like things are trending upward a little bit  which is good for all your homeowners who are looking to maximize the amount of money that you purchase a house for. So my name is Michael Gaddis and if you would like further information about Fallbrook, you just I have any general questions, you can call me at area code 760-692-5950, 760-692-5950 or feel free to visit me on my website at MichaelGaddis.com. Thank you so much.

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