Encinitas, CA Market Conditions Report for November 3, 2011

By
Real Estate Agent with Prudential California Realty

Encinitas, CA Market Report

If you are new to reading my Market Report, I would like to take a moment to explain the data you are reading.  The listing information comes directly from the MLS and reflects a 7 day history.  It is important to watch the trend of new listing vs sold, this can often give indications if inventory is tight or in surplus.  In turn that can help determine if it is a seller's or buyer's market.  I also provide average listing prices, days on market and price per square foot.  This is again for purposes of tracking the overall market for this one community.  As always, each property is unique, and no matter if it is a seller's or a buyer's market, if you have found the right property, always use the comparative analysis your Real Estate agent can provide to determine the proper market value of the property, and then factor in your motivation for the property. 

 

My opinions stated below are from my own research each week from market trend data that I receive from various sources.  If you have any questions or comments regarding my opinion, please contact me for further information or clarification.

   

The following is the weekly activity for Encinitas:

  • 9 new* listings were placed on the MLS
  • 7 listings went into escrow and were listed as pending.
  •  11 listings closed escrow and were sold.
  • 14 listings cancelled, withdrew or expired

(*new listing refers a property that has not been on the market in the last 6 months)

 This week's Market Action Index                                       
The Market Action Index trended much higher again this week.  in fact, for the first time in several weeks, the Market Action Index moved into the Seller's zone.  This continues to be a classic case of a lightening of inventory.  Fewer houses to choose from, the houses that have been on the market are selling.   The sharp trend into the Seller zone is not surprising, this market's lack of inventory will continue to keep this trend. I will say that if you are a buyer looking to purchase, this is probably a great time to buy, especially as this trend continues upward.




Real Time Market Profile

Although the average list price has dropped dramatically this week, the Days on Market drop and Market Action Index jump indicate a shift in the market.  The days on market decreased, which is not typical for this time, which is an indication that the tightening of inventory is effecting this market.  the decrease of price and square footage will most likely stabilize and begin to increase again.

Your Market Data

If you liked the report above and are interested in a neighborhood or zip code that I have not covered, contact me, I will be happy to assist you with that information.

Posted by

Here for you when it is time to sell your home or buy another!

Kymberly Wright
Broker Associate
The Lotzof Group
Prudential California Realty
760-518-8527 cell
760-841-1885 fax
KymWright@prusd.com
www.thelotzofgroup.com
CA DRE# 01843999

 

Comments (4)

Not a real person
San Diego, CA

....Friday’s child is loving and giving,
Saturday’s child works hard for his living

It's Sunday

Nov 06, 2011 08:57 AM
Kym Wright
Prudential California Realty - Olivenhain, CA

:) Did you know I am a Sunday child?  I look like your cat on my "off" moments.

Nov 07, 2011 03:30 PM
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

I like your market report, Kym, especially thte fact that you actually explain things in your first paragraph. Is the number of expired, cancelled, and withdrawn listings kind of high, or is it kind of typical lately for Ecinitas.

Nov 10, 2011 09:18 AM
Kym Wright
Prudential California Realty - Olivenhain, CA

Hi Jim.

It is high and not generally that high.  I go through the histories, to make sure it is not expired and then just re-activated.  It could happen that one or two that expire on the day I run the report, re-activate the next day.  Most of the expired properties seem to have a history of on and off the market.  Often a pricing issue.  Encinitas tends to be a lot of custom or unusual properties that just sometimes can't sell.  It does seem to me that people pull off the market this time of year and wait until next Spring.

I am just getting to run today's report.  The numbers are down this week, but not surprising as halloween and thanksgiving take up everyone's time and focus.

Nov 10, 2011 01:45 PM