Encinitas, CA Home Prices Remain Strong
Real estate market report for San Diego, CA provided by Rob Denny of Allison James Estates And Homes.
Encinitas Home Prices
Single Family Detached (SFD) home sales in Encinitas Ca, declined 29 percent to $1,067,291 in April 2014 compared to $1,499,420 in March 2014. Despite this one month dip, year-over median price for SFD homes in Encinitas, CA first quarter 2014 increased 18 percent, compared to first quarter 2013. Detached home sales in North County San Diego continued 21 straight months of sustained year-over median price increases. Prices rose 2.7 percent to $571,000 in April 2014 compared to $556,000 in March 2014. Year-over median price for SFD homes in North San Diego County increased 6.73 percent, compared to $535,000 in April 2013. With low inventory and high demand, I don’t expect things to slow down anytime soon. If you are considering buying a home in Encinitas having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, average days on market have dropped to 37 compared to 48 last year, with many listings selling within a few days of hitting the market. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Encinitas home on which you are making an offer.
Sellers are expecting to get slightly above market value if they price their Encinitas home properly. Low inventory has multiple offers coming in on homes similar to what we saw back in 2006. I wouldn't expect home prices to run up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise.
The median list price in April for single family homes in Encinitas is $1,414,900. The list prices decreased by .04% from the previous month.
The price per square foot for homes listed for sale in this area is $403.62.
The price per square foot for homes sold in this area in April is
***Please Note*** I exclude some Ocean front homes sold from the above summary. Encinitas is a large city, from Ocean front homes to large homes in Olivenhain which borders Ranch Santa Fe. Anything over $3,500,000 is excluded in my summary because I feel it falsifies the numbers. This is my professional opinion.
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