What’s the Value of My Encinitas Home?
Encinitas Homes for Sale in January 2022
It’s important for buyers and sellers in the Encinitas housing market to understand the local market conditions, and the impact they have on buying and selling, in order to make informed decisions about Encinitas homes for sale.
Here’s what happened in the Encinitas housing market for January 2022 based on MLS data (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
36 homes sold in Encinitas in January, just 2 fewer than last month. Here’s the breakdown of overall activity.
Single Family Homes Sold
26 (no change); 19 Average Days on Market; Average Sales Price $2,054,230 (down 22%); Average sale was 100% of the original asking price
Condos, Townhomes & Duplexes Sold
10 (down by 2); 7 Days on Market; Average Sales Price $978,890 (down 20%), Average sale was 104% of original asking price
Overall sales volume of Encinitas home sales declined slightly from last month, with the same number of single family detached home sales, but 2 fewer condos, townhomes and duplexes. Looking back 1 year, 2 more single family homes sold in January 2022, with the same number of condos, townhomes and duplexes sold in January 2022 compared to last year!
The average sales price for condos, townhomes and duplexes declined compared to last month, as it also did for single family homes. Sales prices ranged from $600,000 to $4,250,000 in January.
Looking back 1 year ago to January 2021, the average sales price was 1% lower for the single family homes that sold in 2022 (the median was 3% higher); the average sales price for condos, townhomes and duplexes was 27% higher than 1 year ago (the median price was 44% higher).
The average time on the market was shorter for single family homes, as it also was for condos, townhomes and duplexes, compared to December. At the same time 44% of the homes went pending in 7 days or less. Buyers must be prepared to make quick decisions in order to not lose out on homes they like and that meet their needs!
The median sales price for detached single family homes was $1,877,500 (down 16%) and $942,500 (down 10%) for condos, townhomes and duplexes.
While many buyers were able to negotiate the sales prices of their new homes, 67% paid full price or more, a good indication of the competition and multiple offers. It’s important to consider this when planning your offer strategy.
There were 4 homes with an Active Under Contract status at the end of January, versus 2 last month.
The Encinitas real estate inventory increased modestly to 26 homes at the end of January, up by 5. Listing prices range from $403,675 to $10,895,000. This is a supply of only 10 days for condos, townhomes and duplexes (vs. 8 days last month), and 24 days for single family homes at the current rate of sales (compared to 17 days last month) over a 3-month sales period.
Encinitas housing market continues to be a very strong sellers market.
43 Encinitas homes came on the market in January, a 48% increase from last month (29); the number of homes going pending in January (excluding homes that actually closed) also increased from 24 to 34 pendings. It was an active month for buying and selling!
I would be pleased to share other details about the Encinitas real estate market with respect to recent activity, as well as for individual communities including Encinitas Ranch, Leucadia, and Olivenhain, and particular neighborhoods that are of interest to you.
I’m happy to provide more detailed local market information, answer questions about the market conditions in general or for particular neighborhoods, and assist you in selling your Encinitas home and/or buying a new property. Please reach out to me at (760) 840-1360 so we can discuss your plans and create the best strategy to help 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 December 2021
Comments(4)