Encinitas Real Estate Market Report - October 2010
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 October 2010 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.
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In October 2010, 50 homes sold in the Encinitas real estate market, 22% less than last month. Here's the breakdown of overall activity.
|
TOTAL HOMES |
Detached |
Attached |
Number
|
50 (up 38%) |
33 (up 18%) |
17 (up 112%) |
Days on Market
|
52 |
55 |
46 |
Average Sales Price
|
$815,304 (down 5%) |
$1,104,433 (up 2%) |
$428,758 (up 16%) |
Average Sale $/List $
|
95% |
94% |
95% |
Home sales shifted in the Encinitas real estate market with an increase in sales across the board.
There were 23 homes with a Contingent status at the end of October (i.e., short sale and foreclosure homes having offers that are being considered by the lenders), a decline from last month. These homes are considered Active and are included in the overall active statistics.
For October 2010 the Encinitas real estate market saw an 8% decline in inventory, with 268 homes for sale at the end of October. This represents an inventory of 6.4 months for attached homes, down from 7.8 months last month, and 5 months for detached homes at the current rate of sales, down from 5.5 months in September (based on a 6-month period), another decline.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
62 Encinitas homes came on the market in October compared to 74 last month (down 21%); the number of homes going pending also declined, 38 as compared to 41 last month (down 7%).
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 sense 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.
READ MORE:
Encinitas Homes for Sales - Encinitas Real Estate Market Report for September 2010
Encinitas Homes for Sale - Encinitas Real Estate Market Report for August 2010
Encinitas Homes for Sale - Encinitas Real Estate Market Report for July 2010
Encinitas Homes for Sale - Encinitas Real Estate Market Report for June 2010
Encinitas Real Estate - Encinitas Real Estate Market Report for May 2010
Encinitas Real Estate - Encinitas Real Estate Market Report for April 2010
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