Escondido's real estate market is experiencing a price correction, with values down 30.6% from last year. The median home price has fallen to $965,000, a significant 30.6% decrease year-over-year. With 9 active listings, inventory is 125% higher than seasonal norms. Homes are now taking an average of 140 days to sell, significantly longer than the 22 days typical for this market. A significant 22.2% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Escondido market with the affordability index at 48.3. Based on current market indicators, home prices in Escondido are projected to decrease by approximately 19.6% over the next month.
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