Here's some info about the market activity in Encinitas. First inventory levels:
As you can see, inventory levels are below where they were two years ago, but above where they were last year. The inventory can't seem to shake that off and drop lower. Our guess is that this is partly due to the fact that homes are not selling super quickly, and, to the extent sales do occur, then they are replaced with new listings. The good news is that inventory levels are not climbing.
In terms of median prices, here's that graph.
As you can see, it's a bit of a wash over last year. Some times the median price is above and sometimes it is below last year's median price. Conclusion: No conclusion can be drawn. We know from other market activity that prices remain relatively flat or somewhat lower than last year. BUT, mortgage rates, being as low as they are, plus the fact that first time home buyers are having difficulty getting loans to buy homes, may have pushed up the median price point.
I hope that's clearer than mud.
John Hokkanen, Encinitas Real Estate
Source of Data: Sandicor MLS
;)
;)
;)
