Low inventory continues to affect real estate prices and demand in North San Diego County

FALLBROOK – High seasonal demand and a thin inventory drove real estate prices up again in Fallbrook and Bonsall, Jerry Kalman, a realtor® with HomeSmart Legends, reported May 5.

April average prices at $602,000 were 12 percent better than April of 2016 and three percent higher than March. In April, homes took 37 days or 21 percent less time to sell than a year earlier.

“One third of the 79 sales were at or above the original asking price,” Kalman said. “Many of those that sold at or above the listing price went into escrow within a couple of weeks when they were listed.”

Cash buyers represent...