As a buyer or seller in the Encinitas real estate market, it is important for you to have data 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
Because the media reports report data on a regional basis, what you see may not at all represent the reality of the local market, so having data from a knowledgeable agent about Encinitas market conditions benefits you as the buyer or seller.
Here is a summary of the Encinitas real estate market for September 2008 based on statistics from the MLS (private sales are not included). These data are deemed reliable but are not guaranteed.
In September 2008 there were 42 homes sold in Encinitas. Here's the breakdown of overall activity.
|
|
TOTAL HOMES |
Detached |
Attached |
|
Number
|
42 |
28 |
14 |
|
Days on Market
|
75 |
69 |
88 |
|
Median Sales Price
|
$755,000 |
$943,000 |
$390,000 |
|
Average $/SF
|
$374/SF |
$364/SF |
$394/SF |
|
Average Sales Price
|
$830,939 |
$984,821 |
$523,175 |
|
Average Sale $/List $
|
95% |
95% |
95% |
At the end of September 2008 there were 257 Encinitas homes for sale (188 detached, excluding mobile/manufactured homes, and 69 attached homes), a decrease of 18% since July of this year. This represents an inventory of 12.5 months for attached homes and 12.7 months for detached homes at the current rate of sales (based on a 6-month period).
The price range of detached homes on the market as of September 30 was $475,000 to $7.9 million (71% of these homes were over $1 million); prices for attached homes ranged from $209,900 to $5 million with 20% being priced in the $1 million+ range.,
53 Encinitas homes came on the market in September (40 detached and 13 attached), with 38 going pending during the same time period (29 detached, 9 attached).
The average sales price for detached homes is 13% lower than it was a year ago, with a decrease of only 2% for attached homes.
Keep in mind 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 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 index of what is happening in the Encinitas real estate market. If I can provide more information, please let me know.
************************
If I can provide more information about Encinitas, Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2008 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
Comments(6)