What Happened in the Encinitas Real Estate Market in December 2011?

As a buyer or seller in the Encinitas real estate market, you need to understand the market conditions so you can make a more informed decision about what to do with regard to buying or selling your Encinitas home.

Here’s what happened in the Encinitas real estate market for December 2011 based on statistics from the MLS (private sales are not included nor are manufactured, mobile or multi-family 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 December 2011, 49 homes sold in the Encinitas real estate market, 9% more than in November, the 2^nd month of increased sales. Here’s the breakdown of overall activity.

Home sales in December increased overall, but with a large jump for detached sales with a significant drop in attached sales. The same pattern emerged for average sales prices -  home sales prices shifted significantly upward for detached homes, but fell for attached homes (last month’s attached home average price was up significantly due to the sale of an ocean-front short sale at $1 Million). Buyers in the Encinitas real estate market can expect, on average, to negotiate about 2 - 4% off the asking price based on recent sales.

There were 26 homes with a Contingent status at the end of December (i.e., short sale and foreclosure homes having offers that are being considered by the lenders), about the same as last month. These homes are considered Active and are included in the overall statistics.

For December 2011 the Encinitas real estate market saw a 10% decrease in inventory, with 221 Encinitas homes for sale at the end of December (versus 246 last month), the 2^nd month of decline. It’s likely this is due to the inventory selling well this month coupled with the holidays.

This represents an inventory of 4.3 months for attached homes, down from 4.7 months in November, and 4.9 months for detached homes at the current rate of sales, down from 5.4 months in November (over a 6-month sales period). The Encinitas real estate market remains competitive for buyers and is trending toward more of a seller’s market overall at the current time.

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44 Encinitas homes came on the market in December as compared to 56 last month; we also saw a decrease, although modest, in the number of homes going pending in December (excluding homes that actually sold in December), from 34 to 28 (down 18%).

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 questions, please let me know.

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