What’s my Encinitas Home Worth?
Encinitas Homes for Sale in December 2015
As a buyer or seller in the Encinitas real estate market, you need to understand the local market conditions so you can make a more informed decision about what to do with regard to Encinitas homes for sale.
Here’s what happened in the Encinitas housing market for December 2015 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 2015, there were 46 homes sold in Encinitas, up 18% from November, following several declines in sales vollume. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
46 (up 18%), 33 Days on Market, Ave. Sales Price $936,380 (down 11%), Ave. sale 96% of asking price
Detached Homes Sold
28 (up 4%), 38 Days on Market, Ave. Sales Price $1,123,303 (down 11%), Ave. sale 95% of asking price
Attached Homes Sold
18 (up 50%), 24 Days on Market, Ave. Sales Price $645,611 (up 10%), Ave. sale 97% of asking price
Sales volume of Encinitas home sales rose modestly overall in December, with 1 more detached home sold but significantly more attached properties
Average sales prices decreased modestly for detached but increased for attached properties
Average days on market dropped slightly
The median sales price for detached single family homes was $947,500 (down 17% from last month) and $550,000 (up 9%) for attached properties.
Buyers in the Encinitas real estate market were able, on average, to negotiate 3 - 5% off the asking price based on recent sales, but some homes sold for asking price or better. 26% of the transactions were for cash (compared to 21% in November).
There were 4 homes with a Contingent status at the end of December the same as last month (i.e., short sale and foreclosure homes having offers that are being considered by the lenders; 6% of the total inventory). Contingent homes are considered Active and are included in the overall statistics, but the fact is that some are no longer available to be shown because of multiple offers and December not be accepting more offers either.
For December 2015 the Encinitas real estate inventory decreased again, from 95 in November to 70 (down 26%). This represents an inventory of less than 1 month for attached homes, as it was last month, and 1.4 months for detached homes at the current rate of sales, down from 2.1 last month (over a 6-month sales period). The Encinitas real estate market remains very competitive for buyers, and is a strong seller’s market, in particular for buyers of attached homes/condos.
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How Important is Inventory when Buying or Selling? Very!!
27 Encinitas homes came on the market in December, almost half the number of new listings in November; the number of homes going pending in December (excluding homes that actually sold in December) also decreased from last month (from 42 to 27, down 36%).
These data are based on information provided by the MLS. More details about real estate in Encinitas can be provided with regard to current activity, as well as in specific communities such as Encinitas Ranch, Leucadia and Olivenhain.
Watching trends over time, rather than focusing on data for one particular month, is more revealing and informative, and will provide a better sense of what is happening in the Encinitas housing market. If I can provide more specific local market information, answer any questions, or assist you in an Encinitas sale or purchase, please let me know.
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Encinitas Homes for Sale – What Happened in the Encinitas Real Estate Market in November 2015
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