Encinitas real estate market report - Jeff Dowler

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 May 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 May 2009 there were 35 homes sold in Encinitas (a 25% increase in sales from April). Here's the breakdown of overall activity. 

 

TOTAL HOMES

Detached

Attached

Number

35 (up 25%)

23 (up 21)

12 (up 33%)

Days on Market

46

55

20

Average Sales Price

  $692,513 (down 15%)

  $857,472 (down 14%)

  $376,341 (down 3%)

Average Sale $/List $

96%

95%

97%

There was a significant bump up in sale volume in April, as we have seen in other communities including Carlsbad. At the same time the average prices declined for April. 

An Encinitas beachNOTE: There is a new status that is important for buyers to know about. The MLS now tracks those properties that are CONTINGENT, i.e., ones that have accepted offers that are waiting short sale approval, or where offers are submitted to the ROE banks and awaiting approval. In the past these were lumped together in the ACTIVE category, becoming pending only once the offers were officially accepted by the banks. They are still considered active and will be included with the ACTIVE properties when tracking stats from month to month, but they do have a different status that impacts buyers who may want to submit offers (the offers would be considered back-ups).

At the end of May 2009 there were 268 Encinitas homes for sale, a 3% increase over April (this includes 16 homes with CONTINGENT status - 81% detached, 19% attached)). This represents an inventory of 5.6 months for attached homes, down from 6 months in April, and 10.5 months for detached homes at the current rate of sales, a decrease from 11.1 months in April (based on a 6-month period). 

76 Encinitas homes came on the market in April (58 detached and 18 attached), compared to 62 the previous month (an increase of 23%), with 51 going pending during the same time period (40 detached, 11 attached), an increase of 6% over April, a trend we have seen each of the last 4 months. 

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. If I can provide more information, please let me know.

 ********************************

Subscribe in a reader

If I can provide more information about Encinitas, 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.

Search for Homes Community Information First Time Home Buyers Relocation Services and more How to get in touch with me

All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

 
This post has been included in California Information San Diego County, CA Information Encinitas, CA Information
Post is included in group: Southern California Real Estate Forum
Post is included in group: SAN DIEGO Real Estate Agents & Loan Officers
Post is included in group: Market Updates
Post is included in group: CALIFORNIA REAL ESTATE

6 Comments on Encinitas Real Estate - Encinitas Market Report for May 2009

JUN
06
371,530 Points 63 Featured Posts Localism Sponsor Outside Blog

Hi Jeff, I have noticed the measurable amount of activity. I should think that perhaps we are finding our way out of the woods. Let us hope that is what is what is actually happening. But I am also reminded that even most terminal cancer patients can have remissions. If that sounds a bit neagtive , it is not intended to be. But when I look at the big things and the difficulties that abound this industry, I am reminded that we have only each day and we should make the best of it. I will have to leave the long term thinking to those that might know better.

5:57pm • #1
674,901 Points 145 Featured Posts Localism Sponsor Outside Blog Hit Router

William - well I would agree with that. We are seeing positive trends in some segments of the market bu twho nows what lies ahead. We keep hearing about the flood of REOs due to hit but not seeing them yet. People are complaining about the smaller inventory, particularly at the low end. Not sure qnyone really knows, but I will just keep going with what we have to work with. Pleased to see so many buyers out there.

Jeff

6:29pm • #2
465,377 Points 54 Featured Posts Outside Blog

Jeff, I like the direction those numbers are going in, about time this type of activity starts to happen.

8:18pm • #3
390,207 Points 1 Featured Post Localism Sponsor Outside Blog

Could it be that the sellers are getting the fact that the properties that sell have a good price?

10:04pm • #4
413,561 Points 17 Featured Posts Outside Blog

I wish our sales would increase. And I really need to get to work on some more market reports I have planned. My brain feels like mush though, so I've been slacking =/   Come on Jeff. Make me get motivated! lol

10:05pm • #5
297,689 Points 12 Featured Posts Localism Sponsor Outside Blog

Hi Jeff,

Well done as always! Your 25% increase is sales looks great, but like here too our prices also declined for last month. At this point, I also expect the second half of 2009 to be significantly more active...we're seeing signs all around us now.

11:40pm • #6

Leave a response…



(optional)
What does the graphic say?
 
Jeffdowler_photo3_revised Ambassador_large

Jeff Dowler ~ Carlsbad Real Estate ~ 760-840-1360

Carlsbad, CA

More about me…

RE/MAX Moonlight Beach (CA DRE Lic. # 01490977)

Address: 1967 N. Coast Highway 101, Encinitas, CA, 92024

Office Phone: (760) 840-1360

Cell Phone: (760) 840-1360

Email Me


Jeff Dowler's Profile
Jeff Dowler's Facebook profile
Create Your Badge
Get great free widgets at Widgetbox!

DISCLAIMER: I must disclaim liability for any damages or losses, direct or indirect, that may result from use of, or reliance on, any information contained in this blog, or for the accuracy of comments or opinions expressed by visitors to my blog. The information contained in the articles is deemed reliable but is not guaranteed, and the opinions expressed in these articles are mine.



Links

Archives

RSS 2.0 Feed for this blog

Find CA real estate agents and Carlsbad real estate on ActiveRain.