Encinitas Real Estate Market Report - January 2011
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 January 2011 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 January 2011, 26 homes sold in the Encinitas real estate market, a decline of 26% from December. Here's the breakdown of overall activity.
|
|
TOTAL HOMES |
Detached |
Attached |
|
Number
|
26 (down 26%) |
18 (down 28%) |
8 (down 20%) |
|
Days on Market
|
70 |
74 |
63 |
|
Average Sales Price
|
$782,688 (up 1%) |
$940,383 (no change) |
$427,875 (up 19%) |
|
Average Sale $/List $
|
97% |
97% |
98% |
Home sales declined in January in the Encinitas real estate market as did the average time on market across the board. Average home prices rose slightly overall, but with a significant increase for attached homes.
There were 21 homes with a Contingent status at the end of January (i.e., short sale and foreclosure homes having offers that are being considered by the lenders), the same as last month. These homes are considered Active and are included in the overall active statistics.
For January 2011 the Encinitas real estate market saw an increase in inventory of 6%, with 246 homes for sale at the end of January (versus 233 last month). This represents an inventory of 6.7 months for attached homes, down from 9.1 months last month, and 5.8 months for detached homes at the current rate of sales, up from 4.1 months in December (based on a 6-month period).
READ MORE: How Important is Inventory when Buying or Selling? Very!!
95 Encinitas homes came on the market in January as compared to 37 last month (2 ½ times as many as in December); in contrast the number of homes going pending was the same as last month, i.e., 35.
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 Sale | Encinitas Real Estate Market Report for December 2010
Encinitas Homes for Sale | Encinitas Real Estate Market Report for November 2010
Encinitas Homes for Sale - Encinitas Real Estate Market Report for October 2010
Encinitas Homes for Sale - 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
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