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Encinitas Real Estate - Encinitas Market Report for October 2008

By
Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

Encinitas Market Report

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.

Here is a summary of the Encinitas real estate market for October 2008 based on statistics from the MLS (private sales are not included). These data are deemed reliable but are not guaranteed.

In October 2008 there were 42 homes sold in Encinitas (essentially the same number sold in September). Here's the breakdown of overall activity.

                                  

    TOTAL HOMES    

    Detached   

    Attached   

Number

41

33

8

Days on Market

50

52

44

Median Sales Price

$635,000

$659,700

$438,700

Average $/SF

$389/SF

$386/SF

$396/SF

Average Sales Price

$797,142

$864,339

$519,956

Average Sale $/List $   

94%

94%

95%

At the end of October 2008 there were 264 Encinitas homes for sale, a small increase over September (191 detached, excluding mobile/manufactured homes, and 73 attached homes). This represents an inventory of 7.2 months for attached homes a decline from September) and 6.2 months for detached homes at the current rate of sales, also a decline from September (based on a 6-month period).

The price range of detached homes on the market as of the end of October was $383,562 to $9.795 million; prices for attached homes ranged from $181,900 to $3.9 million.

59 Encinitas homes came on the market in October (46 detached and 13 attached), compared to 51 the previous month, with 19 going pending during the same time period (13 detached, 9 attached), half the number of pendings in September.

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 index of what is happening in the Encinitas real estate market. If I can provide more information, please let me know.

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If I can provide more information about 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.

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All content copyright © 2008 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (3)

Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

OK.  I'm blogging hungry.  I was hoping this one would be about food - like maybe a farmers' market?  Oh well!

Nov 07, 2008 08:52 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Patricia - HaHa - well I guess I am getting a rep for doing restaurants. I will have one over the weekend - a Peruvian restaurant we have not been to yet.

Jeff

Nov 07, 2008 09:22 AM
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Jeff you always do a great job keeping people up to speed with what is going on in the Encinitas Real Estate market!

Nov 07, 2008 09:29 AM