Fallbrook/Bonsall real estate market trends upward in February

FALLBROOK – The local real estate market trended up in February. The combined total home sales volume was up month-over-month for both the Bonsall and Fallbrook areas. That is according to the latest reported data provided by Sandicor, the local Realtor association-owned multiple listing service operator.

"After a relatively slower December and January, we’re finally seeing an uptick in buyer activity and interest," said local Realtor Marla Cruickshank.

According to SANDICOR data, sales for February in Bonsall and Fallbrook totaled 43 homes. That’s up over 16 percent from Sandicor's reported 37 sales in Bonsall and Fallbrook for January. "It’s been a tough slog through the winter," said Cruickshank. "New underwriting standards last year made borrowing more difficult and prevented some buyers from qualifying for loans," said Cruickshank. "But buyer interest has remained strong. It looks like the approach of the spring buying season is now upon us."

Recent home prices on sold homes have held steady or climbed despite last year’s decrease in selling activity. SANDICOR reported that the average residential sales price in February for the combined 92003/92028 zip codes was $575,395, up over 2.5 percent from the average sales price of $561,238 in January. That would equate to an annualized gain of over 30 percent.

"I don’t like to read too much into changes in numbers over 30 days, but from the seller’s perspective, the market appears to be trending upwards right now," said Cruickshank. "Buyers have been fence-sitting. When prices start to climb, buyers typically start to decide that it’s better to buy than wait."

"Again, I like to remind both buyers and sellers that you can’t

read too much into the numbers. Short term ups and downs can largely be ignored," Cruickshank said. "The key is to buy or sell

when you are ready. It rarely pays to try to time the market."

Marla Cruickshank is a listing specialist with Re/Max United for the Fallbrook/Bonsall region and can be reached at (760) 521-2787.