What’s my Encinitas Home Worth?
Encinitas Homes for Sale in February 2015?
As a buyer or seller in the Encinitas real estate market, you need to understand the local market conditions so you can make a more informed decision about what to do with regard to Encinitas homes for sale.
Here’s what happened in the Encinitas housing market for February 2015 based on statistics from the MLS (private sales are not included nor are manufactured, mobile or multi-family homes). These data are deemed reliable but are not guaranteed due to how data may be entered into the MLS system.
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In February 2015, there were 34 homes sold in Encinitas, a decrease of 9% from last month. Here’s the breakdown of overall activity.
|
|
TOTAL HOMES |
Detached |
Attached |
|
Number |
31 (down 9%) |
18 (down 33%) |
13 (up 86%) |
|
Days on Market |
42 |
35 |
50 |
|
Average Sales Price |
$828,514 (down 20%) |
$1,051,662 (down 12%) |
$519,540 (up 22%) |
|
Average Sale $/List $ |
96% |
96% |
96% |
Sales volume of Encinitas home sales decreased markedly in February for detached homes but rose substantially for attached
Average sales prices decreased for detached homes but we saw an increase in average sales prices for attached
The median sales price for detached single family homes was $803,500 (down 33%) and $485,000 (up 29%) for attached properties.
Buyers in the Encinitas real estate market were able, on average, to negotiate 4% off the asking price based on recent sales, but some homes sold for asking price or better. 39% of the transactions were for cash (vs. 26% in January).
There were 8 homes with a Contingent status at the end of February (i.e., short sale and foreclosure homes having offers that are being considered by the lenders; 7% of the total inventory). These homes are considered Active and are included in the overall statistics, but the fact is that some are no longer available to be shown because of multiple offers and may not be accepting more offers either.
For February 2015 the Encinitas real estate inventory decreased modestly from the prior month to 114 homes (down by 3 or 3%). This represents an inventory of only 1.7 months for attached homes, up from 1.6 months last month, and 3 months for detached homes at the current rate of sales, up from 2.8 months last month (over a 6-month sales period). The Encinitas real estate market remains very competitive for buyers, and is a strong seller’s market, especially for buyers of attached homes/condos.
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Encinitas homes came on the market in February, a drop by 71% from January; the number of homes going pending in February (excluding homes that actually sold in February) also decreased from last month (to 16 from 46, or down 65%).
These data are based on information provided by the MLS. More details about real estate in Encinitas can be provided with regard to current activity, as well as in specific communities 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 housing market. If I can provide more specific local market information or answer any questions, please let me know.
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Encinitas Homes for Sale – What Happened in the Encinitas Real Estate Market in February 2015?
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