What’s my Encinitas Home Worth? Encinitas Homes for Sale in July 2015?

What’s my Encinitas Home Worth?

Encinitas Homes for Sale Market Report for July 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 July 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 July 2015, there were 78 homes sold in Encinitas, up 5% from June. Here’s the breakdown of overall activity.

Sales volume of Encinitas home sales rose overall in July, but this was primarily due to a significant jump in detached home sales, contrasting with a decline in attached home sales

Average sales prices decreased modestly for detached homes and for attached homes

Days on market remained about the same across the board

The median sales price for detached single family homes was $1,030,000 (the same as last month) and $556,500 (down 12%) for attached properties.

Buyers in the Encinitas real estate market were able, on average, to negotiate 3% off the asking price based on recent sales, but some homes sold for asking price or better. 22% of the transactions were for cash (compared to 18% in June).

There was 1 home with a Contingent status at the end of July (i.e., short sale and foreclosure homes having offers that are being considered by the lenders; 1% of the total inventory). Contingent 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 July not be accepting more offers either.

For July 2015 the Encinitas real estate inventory decreased modestly from the prior month to 131 homes (down by 6%).  This represents an inventory of only 1.3 months for attached homes, down from 1.8 months last month, and 2.4 months for detached homes at the current rate of sales, down from 2.7 as 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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74 Encinitas homes came on the market in July, a decline of 21% from June; the number of homes going pending in July (excluding homes that actually sold in July) also decreased over last month (from 74 to 57, down 23%).

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 trends over time, rather than focusing on data for one particular month, is 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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