What’s my Encinitas Home Worth? Encinitas Homes for Sale February 2020

By
Real Estate Agent with eXp Realty of California CA DRE #01490977

What’s the Value of my Encinitas Home?

Encinitas Market Report for February 2020

 

Moonlight Beach in Encinitas CABuyers and sellers in the Encinitas real estate market must understand local market conditions, and the impact they have on buying and selling, so they can make informed and educated decisions about Encinitas homes for sale.

 

Here’s what happened in the Encinitas housing market for February 2020 based on data from the MLS (private sales are not included nor are manufactured, mobile, or multi-family homes). These data are deemed reliable at the time this was written, but are not guaranteed.

 

READ MORE:

Encinitas – An Eclectic Seaside Community

Leucadia- Surfers' Beach Community in Encinitas CA

 

41 homes sold in Encinitas in February, up 46% from last month. Here’s the breakdown of overall activity.

 

Detached Homes Sold
26 (up 24%), 42 Days on Market, Average Sales Price $1,622,155 (no change), Average sale was 97% of original asking price

Attached Homes Sold (condos, town homes)
15 (up 114%), 26 Days on Market, Average Sales Price $627,566 (down 23%), Average sale was 99% of original asking price

 

Sales volume of Encinitas home sales rose significantly overall, and especially for attached home sales. Looking back 1 year, we see there were 2 more detached home sales than in February 2019 and 9 more attached home sales.

 

The average sales price did not change for single family detached homes and was lower for attached homes compared to last month. Compared to February 2019 the average sales price was higher by 6% for the detached homes that sold in 2020, but 20% higher than the average for the attached homes in February 2019.

 

The average time on the market was shorter for both single family detached homes and the attached homes sales compared to January.

 

The median sales price for detached single family homes was $1,337,500 (down 13%) and $589,000 (down 21%) for attached properties.

 

Buyers in the Encinitas real estate market, on average, negotiated 1 - 3% off the original asking price for their homes; however, 41% of the buyers paid asking price or better for their new homes, a good indication of the competition. 17% of the transactions were for cash, 6% more than last month.

 

There were 2 homes with a Contingent status at the end of February, versus 3 last month; 1 was a short sale and 1 was a first right of refusal (i.e., sometimes these are short sale and foreclosure homes with offers that are considered by the lenders but these days most are first right of refusals).

 

Homes at Hampton Cove in Encinitas CA

 

For February 2020 the Encinitas real estate inventory was up modestly, increasing by 3 to 92, with homes ranging in price from 359,000 to $7,499,995. This represents an inventory of 1.5 months for attached homes, up from 1.3 months last month, and 2.4 months for detached homes at the current rate of sales, down from 2.5 months last month (over a 3-month sales period). The Encinitas real estate market remains one that strongly favors sellers.

 

76 Encinitas homes came on the market in February, another jump in new listings, up 27%, which was good news for buyers; similarly, the number of homes going pending in February (excluding homes that actually closed in February) also increased, by 49%, to 55, from last month, signs of a busy month of making successful offers.

 

I am happy to share more details about real estate in Encinitas with regard to current and past activity, as well as in specific communities including Encinitas Ranch, Leucadia, and Olivenhain or particular neighborhoods that are of interest.

 

If I can provide more specific local market information, answer any questions about the market conditions in general or in specific neighborhoods, or assist you in selling your Encinitas home or buying a new property, please contact me at (760) 840-1360 or at JeffDowlerSolutions@gmail.com so we can sit down and plan the appropriate strategy to help you accomplish your real estate goals.

 

SEARCH FOR ENCINITAS HOMES FOR SALE

 

READ MORE:

Encinitas Homes for Sale – What Happened in the Encinitas Real Estate Market in January 2020

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Rainer
565,433
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update Jeff, all the best to you as you get many of these properties listed and sold.

Sally

 

Mar 05, 2020 10:32 PM #1
Rainmaker
104,026
Joseph Doohan
Joseph Doohan - Las Vegas, NV
I offer business strategy advice for realtors

Thanks for sharing this information on your local market, great information. I hope you have a great day ahead.

Mar 06, 2020 12:58 AM #2
Rainmaker
5,272,913
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Jeff Dowler, CRS well, if your Encinitas home has THAT beautiful view of the ocean and shoreline, Jeff Dowler is the ONLY agent to call for a Free Market Analysis.... he'll not only provide a current value, but he'll produce the right buyer to purchase that home....

Mar 06, 2020 03:55 AM #3
Rainmaker
2,147,595
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Hi Jeff Dowler, CRS - What a GORGEOUS view!!! I don't think I'd ever leave home to go on vacation if I had a place to live with a view like that and I'd be walking on the beach every day! Your area offers so much more than just a dwelling. Buyers who can buy should do so now while interest rates are at ridiculous lows. 

Mar 06, 2020 04:08 AM #4
Rainmaker
2,682,974
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Encinitas home buyers and sellers are certain to find your market report valuable, Jeff.  That top photo is gorgeous by the way.

Mar 07, 2020 01:26 PM #5
Rainmaker
5,687,204
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Prospective home sellers will be in very good hands when they seek your professional real estate advice and assistance.

Mar 08, 2020 09:18 AM #6
Rainmaker
1,776,765
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

The real value of a home in Encinitas seems to be PRICELESS!  Have a great day

Mar 11, 2020 06:29 PM #7
Ambassador
4,167,475
Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Thanks Lise Howe  Encinitas property has held up well, even during the recession. The big challenge is limited inventory bu we have seen some small gains. There are some wonderful beaches and a very lively downtown area!

Jeff

Mar 11, 2020 10:28 PM #8
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