How much does it cost to buy a home in El Cajon?, by John Costigan.

How much does it cost to buy a home in El Cajon?

By John Costigan

El Cajon is found in California, and currently, it has 366 home listings that are active, 71 of these being newly constructed, and 86 are available for rent. The town is known to have homes (condos) that are affordable.

SALES OVER THE PAST YEAR.

The median price of homes in El Cajon was $ 750,000 in April 2022. The town experienced an increase in the number of houses sold. Two hundred seventy-seven houses were sold in April 2022 compared to last year when only 96 homes were sold. El Cajon has an advantage for families with kids because there is about 53 school which are elementary, 37 middle schools, and 29 high schools within the area. Ratings of these schools are 3 out10 of the best schools. The city has had more market days than last year. Homes stayed for about 22 days in the market in 2021, but the number increased to 28 in April 2022. El Cajon is a seller market; the houses sell higher than the listing price by 3% and pend for around eight days. Homes with high demand, also categorized as hot homes, are sold at a price that is 8% higher than the listing price and pend for five days. Sellers receive multiple offers from potential buyers, some with waived contingencies. El Cajon is reported to have more potential home buyers than the number of houses available for sale. There is thus an imbalance between supply and demand, showing high inventory levels, which is why home is sold out expensively.

Trends in the median price of a single-family home and condo.

TOWNHOMES /CONDO

April 2022 had about 60 homes sold compared to the same month last year, whereby only 18 homes were

sold. Feb 2022 had the lowest number of houses sold out, less than ten, while most houses were sold in April.

Townhomes, another wisely called condo, have experienced an increase in median home price by about $100,000.In 2021 these homes costed $324,950; in 2022 the number escalated to $424,950. May 2022 had the highest median price listing of about $460,000, while February had the lowest median price listing of about $390,000.

El Cajon had a median price per square foot of $425, an increase from last year when it was only $343.The cost escalated to $102 within a year. January 2022 had the highest median price listing per square foot, which was $440, while March had the lowest price, less than $410.By last month the cost was $425.

The median market days for April 2021 was 26, while in 2022, the number was 24, which is an increase. March 2022 had the highest number of median market days, being 33, while February had the lowest number being less than ten days.

El Cajon had a median home size of 949sqft in April 2022, a drop from 965sqft in April 2021. January 2022 had the highest square feet size at 1150 February with the lowest number at $925. The sale-to-list ratio of townhomes was 103.1% in April 2021, indicating a decrease of 0.12pts year over year.

SINGLE FAMILY HOMES

Compared to April 2021, El Cajon has experienced growth in the number of homes sold. Last year the number of homes sold was 78, while the data increased to 218 in April 2022. May had the highest number of houses sold, around 260, while April sold the least number of single-family homes, less than 50.

The median price per foot increased over a year, whereby in April 2021, expenditure was $373, while in 2022, the price was $477.There thus has been an increase of more than $100. In 2022, the median price per square foot was highest in February at $500 and the lowest in March at $464.

El Cajon’s median price list was $799,749 in April 2022, while in April 2021, the median price list was $662,500. Between January and May 2022, May had the highest median price list of $805,000, while January had a median price list of $750,000.

The median home size of El Cajon singlefamily houses was at 1714sqft in April, while in September 2021, the home size area was at 1550sqft. Between January and May 2022, January had the lowest number of home sizes, 1620sqft, while May had the highest number of home sizes, 1750 sqft.

The median market day of El Cajon was 11,198 in April 2022. April 2021 had a number of median market days at 21. Within the first five months of 2022, March had the highest number of market days, while February had the lowest number of market days.

The sale-to-list ratio of single-family homes was 103.6% in April 2022, an increase of 0.5pt yearly.