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Encinitas Real Estate - Encinitas Market Report for August 2009

Encinitas real estate market report

As a buyer or seller in the Encinitas real estate market, it is important to have information 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 August 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 due to how data may be entered into the MLS system.

In August 2009 there were 38 homes sold in Encinitas (a 30% decrease in sales over July). Here's the breakdown of overall activity.

	TOTAL HOMES	Detached	Attached
*Number*	38 (down 30%)	28 (down 32%)	10 (down 23%)
*Days on Market*	46	54	25
*Average Sales Price*	$826,293 (up 17%)	$1,004,973 (up 24%)	$325,990 (down 11%)
*Average Sale $/List $*	95%	94%	99%

Home sales declined in the Encinitas real estate market across the board. Days on market declined overall and for detached homes but rose for attached properties. In contrast, average sales prices rose dramatically overall, primarily due to a significant increase in the average price of a detached home which rose above $1 million, something we have not seen for over a year, while the average price for an attached home decreased.

There were 32 homes with a Contingent status at the end of August (i.e., short sale and REO homes having offers that are being considered by the lenders), just about the same as July. These homes are still considered Active and are included in the overall active statistics.

At the end of August 2009 the Encinitas real estate market had 249 homes for sale, 6 fewer than in July (down only 2%). This represents an inventory of 4.4 months for attached homes, about the same as July, and 6.8 months for detached homes at the current rate of sales, a decrease from 7.4 months in July (based on a 6-month period).

64 Encinitas homes came on the market in August compared to 69 the previous month, with 40 going pending during the same time period, a decrease of 9% from July.

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 specific information or answer any particular questions, please let me know.

Encinitas Real Estate - Encinitas Real Estate Market Report for June 2009

Encinitas Real Estate - Encinitas Market Report for May 2009

Encinitas Real Estate - Encinitas Market Report for April 2009

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

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If I can provide more information about Encinitas real estate 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.

Posted by Jeff Dowler ~ Carlsbad Real Estate ~ 760-840-1360 on 09/04/2009 08:52 AM

Comments (6)

Market Reports for Encinitas CA in the Real Estate Market Channel

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Originally posted at: Carlsbad Real Estate News and Views: Encinitas Real Estate - Encinitas Market Report for August 2009

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

SEP

Hey Jeff,

Great report! Your customers are lucky to have you there to help them learn the market in Carlsbad. You're obviously the go-to guy.

Jeff, so the sales volume is down but the average home price is up? That's good news!

Bob and LIsa - thanks. I appreciate the compliment. Hoope you guys have a terrific holiday weekend - hard to believe it's here already.

Maria - I was surprised that the volume shifted down so much, but this trend of volume down and prices up has now occurred several times, and in more than one community in my area. It will be interesting to see where it goes as we head out of summer and folks get back to their routines. And when those REOs start to hit.

Jeff

Jeff, it looks like the sales prices have gone up, which is a very good sign!

Hi Jeff, I got a call today from a past client that they are ready to move up to the next level. hat bodes well well and will likely be taking one the homes out of this reports inventory soon. What motivated them to call was a report that prices are rising and they want in now. So that is good news and direct result of the favorable reports of the market improving.