What’s my Encinitas Home Worth?
Encinitas Homes for Sale in September 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 September 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 September 2015, there were 48 homes sold in Encinitas, down 21% from August. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
48 (down 21%), 37 Days on Market, Ave. Sales Price $1,117,536 (up 9%), Ave. sale 96% of asking price
Detached Homes Sold
33 (down 20%), 41 Days on Market, Ave. Sales Price $1,135,886 (down 11%), Ave. sale 95% of asking price
Attached Homes Sold
15 (down 25%), 28 Days on Market, Ave. Sales Price $637,166 (up 20%), Ave. sale 98% of asking price
Sales volume of Encinitas home sales declined overall in September, the second consecutive decline in sales
Average sales prices increased modestly for attached homes but declined for detached homes
Days on market decreased modestly across the board
The median sales price for detached single family homes was $1,150,000 (up 2% from last month) and $564,000 (up 8%) for attached properties.
Buyers in the Encinitas real estate market were able, on average, to negotiate 2 - 5% off the asking price based on recent sales, but some homes sold for asking price or better. 19% of the transactions were for cash (compared to 26% in August).
There was 1 home with a Contingent status at the end of September (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 September not be accepting more offers either.
For September 2015 the Encinitas real estate inventory decreased modestly from the prior month to 122 homes. This represents an inventory of only less than 1 month for attached homes, down from 1.1 months last month, and 2.4 months for detached homes at the current rate of sales, up from 2.4 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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How Important is Inventory when Buying or Selling? Very!!
65 Encinitas homes came on the market in September, an increase of 12% from August; the number of homes going pending in September (excluding homes that actually sold in September) also increased from last month (from 45 to 48, up 7%).
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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Encinitas Homes for Sale – What Happened in the Encinitas Real Estate Market in August 2015
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