As a buyer or seller in the Encinitas real estate market, it is important to have data about the market conditions in order to make a more informed decision about what to do with regard to buying, or selling, your Encinitas home.
Here is a summary of the Encinitas real estate market for April 2009 based on statistics from the MLS (private sales are not included nor are manufactured and mobile homes). These data are deemed reliable but are not guaranteed.
In April 2009 there were 28 homes sold in Encinitas (a 10% decrease in sales from March but 22% ahead of February). Here's the breakdown of overall activity.
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TOTAL HOMES
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Detached
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Attached
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Number
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28 (down 10%)
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19 (up 6%)
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9 (down 31%)
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Days on Market
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61
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46
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92
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Median Sales Price
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$627,500 (up 26%)
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$872,350 (up 42%)
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$385,000 (down 18%)
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Average Sales Price
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$799,858 (up 32%)
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$994,039 (up 40%)
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$389,922 (up 6%)
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Average Sale $/List $
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97%
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96%
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97%
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While the number of sales for April dropped 10% from March, the volume is still higher than earlier in the year. In addition, the median and average prices increased except for a decline in the median price of an attached home. The dramatic changes may be attributable to the sale of higher priced homes.
At the end of April 2009 there were 259 Encinitas homes for sale, a 2% decrease over March (and the same as we saw in February). This represents an inventory of 6 months for attached homes, down from 7.1 months in March, and 11.1 months for detached homes at the current rate of sales, an increase from 10.1 months in April (based on a 6-month period).
62 Encinitas homes came on the market in April (53 detached and 9 attached), compared to 67 the previous month (a modest decrease of 7%), with 48 going pending during the same time period (29 detached, 19 attached), an increase of 26% over March which have increased by 9% over February. Are we seeing a trend perhaps?
10 of the homes that came on the market in April also went under contract in April (16% of the new listings) with an average of 9 DOM (range of 1 - 22 days).
Of the sales in April, 21% of the detached homes sold were distress sales - only 3(16%) were REOs and 1 (5%) was a short sale. Of the 9 attached homes sold, 1 was an REO and 1 was a short sale (i.e., 22% distress sales).
These data are based on information provided by the MLS for homes that went under contract in the last couple of months. More details about the Encinitas real estate market can be provided with regard to current activity as well as within specific areas such as Encinitas Ranch, Leucadia and Olivenhain.
Watching the trends over time, as opposed to focusing on the data for one particular month, are more revealing and informative, and will provide a better index of what is happening in the Encinitas real estate market. The data are encouraging but 1 month does not make a trend. If I can provide more information, please let me know.
READ MORE:
Encinitas Real Estate - Encinitas Market Report for March 2009
Encinitas Real Estate - Encinitas Market Report for February 2009
Encinitas Real Estate - Encinitas Market Report for January 2009
Encinitas Real Estate - Encinitas Market Report for December 2008
Encinitas Real Estate - Encinitas Market Report for November 2008
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If I can provide more information about Encnitas, Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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Hi Jeff,
Informative report for beaufitul Encinitas, as usual very well done.
BTW, I'm in agreement with your opinion of encouraging stats vs. a trend. My best take however is that the second half of the year will be more active than the first. We're certainly seeing more first-timers in my area and those usually tend to start the engine for move-ups etc.