ESCONDIDO COMPREHENSIVE ECONOMIC ... - City of Escondido

“imports” retail sales from outside of the City. However, on a more negative note, the City
experienced the highest percentage decline in per capita retail sales from 2000 to 2010. While
per capita retail sales showed slight declines in the other geographies – ranging from 0.4% (San
Diego County) to 4.1% (North County) – they declined by 17.0% in Escondido. The recent
announcement of the Mall renovation and the attraction of Target to reoccupy the vacant
anchor space should help to reverse this trend.
Figure 8. Per Capita Retail Sales by Area, 2000 and 2010 (2010 Dollars)
$16,000
$14,000
$12,000
$10,000
$8,000
$6,000
$4,000
$2,000
$0
Note: Figures adjusted for inflation by the California Taxable Sales Deflator, as provided by the
California State Board of Equalization (SBOE).
Sources: TNDG; U.S. Census Bureau, 2000 and 2010 Summary File 1 (SF 1); SBOE, Taxable Sales in
California, 2000 and 2010.
Home Values
$14,163
$11,752
$10,874
$10,427
$9,409
$8,992
$8,632
Figure 9, Figure 10, and Figure 11 provide median home price data for December 2010 and December
2011. Data are not available for the aggregated North County area, so the figures show data for the
individual cities in this area, in addition to home price data for the south Riverside County cities of
Temecula and Murrieta to provide additional context. As shown in the figures, median sales prices in
Escondido have been below the County average both in December, 2010 and December, 2011. Based
on the most recent data, only the cities of Carlsbad ($535,000) and San Marcos ($358,500) had median
sales prices above the County average ($315,000). As shown in Figure 11, San Marcos and Temecula
were the only cities to experience an increase in median sales prices between December, 2010 and
December, 2011. During this time period, median sales prices in Escondido (-1.7%) fell by much less in
percentage terms than in the County (-6.0%) 4 .
4 We should caution, however, against drawing definitive conclusions on home value trends based on median sales
prices, as the overall mix of home sales (i.e., lower-priced versus higher-priced) heavily influences this measure.
$9,373
Escondido North County San Diego County California
2000 2010
10 Escondido CEDS – Market Overview | The Natelson Dale Group, Inc.