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

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Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

What’s the Value of my Encinitas Home?

Encinitas Market Report for August 2020

 

Moonlight Beach in Encinitas - Home Search linkBuyers and sellers in the Encinitas real estate market must understand local market conditions, and the impact they have on buying and selling, in order to make informed and educated decisions about Encinitas homes for sale.

 

Here’s what happened in the Encinitas housing market for August 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.

 

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Encinitas – An Eclectic Seaside Community

Leucadia- Surfers' Beach Community in Encinitas CA

 

71 homes sold in Encinitas in August, the same as last month which was a relatively busy month with the most sales in any month in over a year! Here’s the breakdown of overall activity.

Detached Homes Sold
48 (up by 1), 44 Average Days on Market, Average Sales Price $1,841,806 (up 11%), Average sale was 98% of the original asking price

Attached Homes (condos, town homes) Sold
23 (down by 1), 38 Days on Market, Average Sales Price $784,756 (up 2%), Average sale was 99% of original asking price

 

Sales volume of Encinitas home sales remained the same overall, but with 1 more detached home and 1 less attached home sale. Looking back 1 year, we see there were just 2 more detached home sales than in August 2019, but 53% more sales of attached homes.

 

The average sales price did not shift for single family detached homes but was modestly higher for attached homes compared to last month. Looking back to August 2019, the average sales price was 12% higher for the detached homes that sold in 2020; the average sales price for attached homes was 4% lower than 1 year ago.

 

The average time on the market was longer for both detached single family homes, and attached homes sales compared to July.

 

The median sales price for detached single family homes was $1,598,750 (up 21%) and $753,000 (up 9%) for attached properties. Note: there were 2 listings sold together as one home at $4,100,000, but counted twice, which no doubt raised the average substantially for detached homes, along with 3 sales at over $3 million.

 

Buyers in the Encinitas real estate market, on average, negotiated 1 - 2% 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 competition. 13% of the transactions were for cash.

 

Home in Encinitas Ranch Encinitas CA

 

There were 2 homes with a Contingent status at the end of August, compared to none last month, both first right of refusals (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).

 

For August 2020 the Encinitas real estate inventory dropped by 6% to 83, the second decline, with homes ranging in price from $359,000 to $10,800,000. This represents an inventory of only 1.2 months for attached homes, down from 1.6 months last month, and only 1.4 months for detached homes at the current rate of sales, down from 1.8 months last month (over a 3-month sales period).

 

The Encinitas real estate market remains one that strongly favors sellers, and became even more competitive in August.

 

83 Encinitas homes came on the market in August, an increase in new listings by 8%, despite the pandemic; in contrast, the number of homes going pending in August (excluding homes that actually closed in August) decreased to 74 pendings, down 16%, from last month, but still a busy August for both buyers and sellers!

 

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 so we can discuss an appropriate strategy to help you accomplish your goals.

 

It’s important to know there are specific recommendations in place to help keep everyone safe, and new procedures as the result of the coronavirus that impact home purchases and sales in our area. I am happy to review this information with you and answer questions about what this means for buyers and sellers, and what you can expect when buying or selling.

 

SEARCH FOR ENCINITAS HOMES FOR SALE

 

READ MORE:

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

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Show All Comments
Rainmaker
2,817,458
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Encinitas home buyers and sellers are sure to value your real estate market report, Jeff!

Sep 04, 2020 12:51 PM #1
Rainmaker
1,425,322
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Jeff Dowler, CRS 

Whether you are a buyer or a seller, you are in no more capable hands.  Jeff will help you make the right decisions about your real estate in the Encinitas CA area. 

Sep 04, 2020 01:54 PM #2
Rainmaker
2,884,686
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I really hope September can live up to August. Can’t wait to get back to semi-normal or better or even better than normal.

Sep 04, 2020 10:17 PM #3
Rainmaker
2,884,686
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Sheri Sperry - MCNE® Jeff makes all the difference in that regard and I’m glad somebody said so! :)

Sep 04, 2020 10:20 PM #4
Rainmaker
3,442,040
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff just wanted to stop in and wish you and your family a fantastic Labor Day Weekend Endre

Sep 04, 2020 11:54 PM #5
Rainmaker
3,991,191
Dorie Dillard CRS GRI ABR
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good evening Jeff Dowler, CRS,

Home buyers and sellers are so lucky to have you give them the scoope on the Encinitas real estate market. They are in good hands working with you! 

Sep 05, 2020 04:12 PM #6
Ambassador
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thanks Myrl Jeffcoat  - I hope so!

Thank you for the kind words Sheri Sperry - MCNE® 

Jeff

Oct 08, 2020 09:43 AM #13
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thanks, Laura  - semi-normal would be nice!

Thank you, Endre  - sorry I am still catching up on responding to comments a month later.

Jeff

Oct 08, 2020 09:50 AM #14
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