As a buyer or seller in the Encinitas real estate market, it is important to have information 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 September 2009 based on statistics from the MLS (private sales are not included nor are manufactured and mobile homes). These data are deemed reliable but are not guaranteed due to how data may be entered into the MLS system.
READ MORE: Encinitas - An Eclectic Seaside Community
In September 2009, 40 homes sold in Encinitas (a 5% increase over August which had dropped substantially from July). Here's the breakdown of overall activity.
|
|
TOTAL HOMES |
Detached |
Attached |
|
Number
|
40 (up 5%) |
33 (up 18%) |
7 (down 30%) |
|
Days on Market
|
69 |
68 |
75 |
|
Average Sales Price
|
$830,426 (up 1%) |
$908,666 (down 10%) |
$461,582 (up 42%) |
|
Average Sale $/List $
|
96% |
95% |
98% |
Home sales rose modestly in the Encinitas real estate market due to more detached home sales (attached home sales declined). Average sales prices rose slightly overall, primarily due to a dramatic increase in the average sales price for attached homes, since prices for detached declined.
There were 34 homes with a Contingent status at the end of September (i.e., short sale and REO homes having offers that are being considered by the lenders), 2 more than last month. These homes are considered Active and are included in the overall active statistics.
As in other communities, for September 2009 the Encinitas real estate market saw a decline in inventory, with 237 homes for sale, down 5% from August. This represents an inventory of 5.1 months for attached homes, up from 4.4 months in August, and 5.6 months for detached homes at the current rate of sales, another decrease, from 6.8 months in August (based on a 6-month period).
READ MORE: How Important is Inventory when Buying or Selling? Very!!
61 Encinitas homes came on the market in September compared to 64 the previous month. In contrast we saw 60 homes go pending during the same time period, 46% more than in August. More sellers seem to be feeling more comfortable about selling, or perhaps need to. This is not an unusual trend after Labor Day.
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 sense of what is happening in the Encinitas real estate market. If I can provide more specific information or answer any particular questions, please let me know.
READ MORE:
Encinitas Real Estate - Encinitas Real Estate Market Report for August 2009
Encinitas Real Estate - Encinitas Real Estate Market Report for July 2009
Encinitas Real Estate - Encinitas Real Estate Market Report for June 2009
Encinitas Real Estate - Encinitas Market Report for May 2009
Encinitas Real Estate - Encinitas Market Report for April 2009
Encinitas Real Estate - Encinitas Market Report for March 2009
Encinitas Real Estate - Encinitas Market Report for February 2009
Encinitas Real Estate - Encinitas Market Report for January 2009
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If I can provide more information about Encinitas and Leucadia real estate 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 © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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