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 November 2008 based on statistics from the MLS (private sales are not included). These data are deemed reliable but are not guaranteed.
In November 2008 there were 18 homes sold in Encinitas (less than half the number that closed escrow in October). Here's the breakdown of overall activity.
|
|
TOTAL HOMES |
Detached |
Attached |
|
Number
|
18 |
12 |
6 |
|
Days on Market
|
53 |
63 |
33 |
|
Median Sales Price
|
$680,500 (up 7%) |
$777,000 (up 18%) |
$417,750 (down 5%) |
|
Average Sales Price
|
$948,750 (up 19%) |
$1,231,250 (up 42% |
$383,750 (down 26%) |
|
Average Sale $/List $
|
95% |
94% |
96% |
At the end of November 2008 there were 255 Encinitas homes for sale, a 3% decrease over October (186 detached, excluding mobile/manufactured homes, and 69 attached homes). This represents an inventory of 8.7 months for attached homes, an increase from October) and 9.2 months for detached homes at the current rate of sales, also an increase from October (based on a 6-month period).
The price range of detached homes on the market as of the end of October was $475,000 to $9.795 million; prices for attached homes ranged from $199,000 to $3.9 million.
54 Encinitas homes came on the market in November (41 detached and 13 attached), compared to 59 the previous month, with 25 going pending during the same time period (17 detached, 9 attached), 15% more than the number of pendings in October.
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 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
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