Real Estate Recovery Temporarily Stalls out in November, Says Kalman.BONSALL Bonsall is the name of several people and places, including:
"Average selling prices The average sales price of goods or commodities. Especially used in the retail sector and technology distribution. for 32 homes that closed escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. in Fallbrook and Bonsall dropped to $567,356, or $279 per average square foot. On the plus side, average time on the market decreased to 72 days, a 24 percent improvement over October," he said. In November 2005, 52 homes closed escrow at an average selling price of $689,744, or $286 per average square foot. Kalman attributed the price decrease to absence of high-end homes closing escrow during the month. Homes that sell with prices over a million dollars, which comprise one fourth of the available inventory, carry a higher average price per square foot, a benchmark used by realtors in assessing market direction. "At month-end, 69 homes were in escrow with an average asking price of $692,924, or $286 per average sq. ft. Three were listed in November," he said. Active inventory on Dec. 1 decreased to 431 homes, down more than 100 from summer levels; and the average asking price dropped to $868,092, or $333 per square foot. Kalman said that 77 new listings came on the market during November and averaging $683,303, or $288 per square foot. Two condos closed escrow in November. The average price of the 41 condos still on the market fell slightly to $367,464. Fallbrook has almost two thirds of the condo inventory. "Through the end of November, 529 single family residences sold here, a 29 percent decline in volume over the same period of 2005. Year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. prices increased and through month-end the average selling price was three percent higher than the comparable 11-month period," he said. Kalman is a Realtor Realtor In the United States a designation used to describe a member of the National Association of Realtors (NAR). Notes: The term "realtor" is a registered trademark and encompasses agents, brokers and associates who are members of a real-estate firm associated with [R] in the Bonsall office of RE/MAX United, 5519 Mission Rd., Bonsall, CA 92003. Kalman can be reached at (760) 468-4689 and by email at jerry@jerrykalman.com. |
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