FALLBROOK, Calif., Mar. 8, 2010---Upward price pressures and an increase in sales activity occurred during February in a prime North San Diego County real estate market, Jerry Kalman, a realtor® with The Jacques Company, reported today."

Lender-owned homes and short sales accounted for less than half the transactions in Fallbrook and Bonsall.  The average selling price in February 2010 was ten percent higher at $353,000 than February 2009.  This also reflected a 31 percent increase in volume.  Of those homes neither lender-owned nor a short sale, the average selling price was $403,000, or $183 per average square foot.

More than a third of the homes that closed escrow sold above their original asking price, reflecting possible multiple bids.  While these circumstances ranged from a small one percent bump on new construction by a major home-builder, a pair of lender-owned homes came in at more than 10 percent above asking prices.  Many of those that sold above original asking prices were traditional sales.

He noted that the single family residential inventory entering March 2010 started its seasonal climb, rising more than 10 percent to 252 listings.  He noted that the number of homes in escrow and, thus, off the market dropped to 83 residences.  The average asking price of those in escrow was $383,000, or $165 per square foot.

"Breaking a three-month trend, the spread between the original listing and eventual selling prices increased, rising to a ten percent differential," Kalman said.