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Wednesday, Sep 28, 2022
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Fallbrook/Bonsall Market Cools Off

Real estate sales volume and prices in Bonsall and Fallbrook declined for the first time in three months in November, according to Jerry Kalman, a real estate agent in the Bonsall office of Re/Max United.

Some tidbits:

– Average selling prices for 32 homes that closed escrow in those communities dropped to $567,356, compared with November 2005, when 52 homes closed escrow at an average selling price of $689,744.

Kalman attributed the decrease in prices to the absence of any high-end homes closing escrow during the month. Homes that sell with prices of more than $1 million , one-fourth of the available inventory , also carry a higher average price per square foot, “a key benchmark used by Realtors in assessing market direction,” he said.

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– Average time on the market decreased to 72 days, a 24 percent improvement over October.

– At month-end, 69 homes were in escrow, with an average asking price of $692,924.

– Some 77 new listings came on the market during November, averaging $683,303.

, Pat Broderick

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