What’s my Encinitas Home Worth? Encinitas Home Sales in November 2023

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

What’s the Value of my Encinitas Home?

Encinitas Market Report for November 2023

 

Moonlight Beach in Encinitas CAIt’s essential that Encinitas sellers and buyers have current information about 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 November 2023 Encinitas housing market, based on information from the MLS (private sales are not included nor are manufactured, mobile, or multi-family homes). These statistics are believed reliable when this report was written but are not guaranteed.

 

READ MORE:

 Encinitas – An Eclectic Seaside Community

Leucadia- Surfers' Beach Community in Encinitas CA

 

21 homes sold in Encinitas in November, 36% fewer than last month (31). Here’s the breakdown of overall activity.

 

Single Family Homes Sold
18 (down by 5); 35 Average Days on Market; Average Sales Price was $2,748,881 (up 18%); Average Sales Price was 94% of the original asking price.

Condos, Townhomes & Duplexes Sold
3 (down 70%); 9 Days on Market; Average Sales Price was $1,068,106 (down 5%); Average Sales Price was 100% of original asking price.

 

Overall sales volume of Encinitas home sales dropped substantially from October. There were fewer family homes sold as well as fewer condo, townhome and duplex sales.

 

Looking back 1 year, the same number of single family homes sold in November 2023 as in 2022. There were 3 fewer condos, townhomes and duplexes sold in November 2023 compared to 1 year ago.

 

The average sales price for condos, townhomes and duplexes was lower than last month, but was higher for single family homes. November sales prices ranged from $830,000 up to $6,750,000.

 

Compared to November 2022, the average sales price was 30% higher for single family homes sold in 2023 (the median was 3% higher in 2022). Similarly, the average sales price for condos, townhomes and duplexes (only 3 sales) in November 2023 was 45% higher than 1 year ago (the median was 18% higher than in 2022).

 

Condos in Encinitas, CA

 

The average time on the market was longer for single family homes, but was substantially shorter for condos, townhomes and duplexes compared to October. 38% of the homes went pending in 1 week or less. Thus, it remains important for buyers to be prepared to make quick decisions about touring homes and submitting offers!

 

The median sales price for detached single family homes was $1,985,000 (down 5% from last month). The median price for condos, townhomes and duplexes was $849,000, down 5% from October.

 

While some buyers were able to negotiate their purchase prices down from asking price, 33% paid list price or higher. This is important to remember when planning your offer strategy.

 

There was 1 home with an Active Under Contract status at the end of November, compared to none last month.

 

The inventory declined from October by 17%, with 57 listings at the end of November.  List prices range from $560,000 to $27,500,000.  This is a 2.8 month supply for condos, townhomes and duplexes (up from 1.8 months last month), and 1.8 months for single family homes (no change from last month). This is based on the rate of sales over the last 3 months.

 

Encinitas continues to be a very strong sellers market based on supply and demand.

 

21 Encinitas homes came on the market in November, compared to 31 new listings last month. The number of homes going pending in November (excluding homes that actually closed) rose slightly with 16 pendings (up from 15).

 

I can share more details about the Encinitas housing activity for Encinitas Ranch, Leucadia, and Olivenhain, and other areas of interest.

 

I’m happy to provide more local market information, answer questions about market conditions, and assist you in selling your Encinitas home and/or buying a new property. Please call or text me at (760) 840-1360 to talk about your personal housing needs and plans. We can then develop an effective strategy to reach your real estate goals, whether buying and/or selling.

 

SEARCH FOR ENCINITAS HOMES FOR SALE

 

READ MORE:

Encinitas Homes for Sale – What Happened in the Encinitas Real Estate Market in October 2023

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (8)

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Encinitas is looking really well and spry this time of year! Good luck with everything!

Dec 04, 2023 11:58 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. Thanks for my morning dose of California Dreaming. Once again the prices are surprising to this midwest guy but the more reports I read the easier the numbers are to digest. Keep them coming. Enjoy your day.

Dec 05, 2023 04:16 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Thank you for the market update for Encinitas. Have a super fantastic week!

Bill Salvatore, Realtor- Arizona Elite Properties

Dec 05, 2023 04:33 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thank you for the thought Laura Cerrano 

Hope you are well!

Jeff

Dec 05, 2023 03:20 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thank you Wayne Martin  I imagine by now the shock of the prices has worn off a bit...or maybe not?!

Jeff

Dec 05, 2023 03:21 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thank you for stopping by Bill Salvatore - East Valley 

Have a great week yourself!

Jeff

Dec 05, 2023 04:10 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Seeing the prices gives me the feeling that I may never realize the dream of having a home on the beach, haha.

Dec 06, 2023 03:48 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Dec 10, 2023 05:02 PM