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What’s my Encinitas Home Worth? Encinitas Market Report for March 2024

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

What’s my the Value of my Encinitas Home?

Encinitas Home Sales in March 2024

 

Moonlight Beach in Encinitas, CAIt’s essential that Encinitas sellers and buyers have current information about local market conditions, and the impact they have on buying and selling, so they can make informed decisions about Encinitas homes for sale.

 

Here’s what happened in the March 2024 housing market in Encinitas, 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

 

29 homes sold in Encinitas in March, 4 fewer sales than last month. Here’s the breakdown of overall activity.

 

Single Family Homes Sold
20 (down by 1); 22 Average Days on Market; Average Sales Price was $2,778,819 (up 22%); Average Sales Price was 102% of the original asking price.

Condos, Townhomes & Duplexes Sold
9 (down by 3); 30 Days on Market; Average Sales Price was $1,066,122 (down 13%); Average Sales Price was 97% of original asking price.

 

Overall sales volume of Encinitas home sales decreased modestly from February. Sales of single family homes dropped by 1, and there were 3 fewer condo, townhome and duplex sales.

 

Looking back 1 year fewer single family homes sold in March 2024 (20) than in 2023 (22). The same number of condos, townhomes and duplexes sold in March 2024 as compared to 1 year ago.

 

The average sales price for condos, townhomes and duplexes was lower than last month, but was substantially higher for single family homes. March sales prices ranged from $520,000 to $10,000,000.

 

Compared to March 2023, the average sales price was 11% lower for single family homes sold in 2024 (the median was 15% lower in 2024). In contrast, the average sales price for condos, townhomes and duplexes in March 2024 was 15% higher than 1 year ago, while the 2024 median was 8% higher than in 2023.

 

The average time on the market was longer for single family homes, and for condos, townhomes and duplexes than in February. 41% of the homes went pending in 7 days or less. That said, it’s important for buyers to be ready to make quick decisions about seeing homes and submitting their offers!

 

Home in Encinitas Ranch, Encinitas CA

 

The median sales price for detached single family homes was $2,187,000 (up 3% from last month). The median price for condos, townhomes and duplexes was $1,025,000, up 15% from February.

 

While some buyers were able to negotiate their purchase prices down from list price, the majority (62%) paid asking price or higher. This is important to remember when planning your offer strategy.

 

There were 2 homes with an Active Under Contract status at the end of March, compared to 1 last month.

 

The inventory declined from last month, down 10% from February, with 60 listings at the end of March.  List prices range from $550,000 to $11,850,000.  This is a 1.1 month supply for condos, townhomes and duplexes (down from 1.8 months last month), and 2.5 months for single family homes (down from 2.9 months from last month). This is based on the current supply and the rate of sales over the last 3 months.

 

Encinitas remains a very strong sellers’ market based on supply and demand especially for condos, townhomes and duplexes.

 

41 Encinitas homes were listed in March, compared to 44 new listings last month. The number of homes going pending in March (excluding homes that closed) increased, with 27 pendings (up from 21 in February).

 

I am happy to share more details about the Encinitas housing activity for Encinitas Ranch, Leucadia, and Olivenhain, and other areas that interest you.

 

I can also 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 and we’ll discuss your personal housing needs and plans. We can then create 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 February 2024

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Still a very positive report even though units sold were down from same time last year an appreciation of 22% is significant.

Apr 05, 2024 01:28 PM
Jeff Dowler, CRS

2023 was certainly a different year in many ways Ed Silva, 203-206-0754 .

Enjoy your weekend!

Jeff

Apr 05, 2024 08:05 PM
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

The only thing that's increasing around here is appreciation, but there's very little inventory. 

Apr 05, 2024 07:42 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Patricia Kennedy 

Inventory, even when it rises, disappears pretty quickly.

Have a terrific weekend!

Jeff

Apr 05, 2024 08:07 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I never seem to stay in Encinitas, but I am near there every so often, haha.  Next week, I will be in Laguna Beach!

Apr 06, 2024 06:42 AM
Jeff Dowler, CRS

Brian England 

Perhaps a stay in Encinitas is in your future, or at least check out Moonlight Beach and the downtown area. And the meditation gardens at the Self-Realization Fellowship at the far south end of town are pretty cool to visit. 

You'll enjoy Laguna Beach!

Jeff

Apr 06, 2024 11:55 AM
Brian England

Moonlight Beach certainly sounds intriguing Jeff Dowler, CRS 

Apr 06, 2024 02:00 PM
Jeff Dowler, CRS

Right now I believe they are in the middle of a big sand replenishment project at Moonlight so areas may be closed Brian England 

Jeff

Apr 07, 2024 10:00 AM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Thank you for taking the time to share this report Jeff Dowler, CRS.

Apr 07, 2024 08:55 AM
Jeff Dowler, CRS

Thank you for taking time to read it Jim Crawford 

Enjoy the rest of your weekend!

Jeff

Apr 07, 2024 09:58 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good afternoon Jeff,

Your reports always seem to accentuate the same..low inventory and always disappears quickly! The median price never ceases to amaze me.

Apr 07, 2024 10:44 AM
Jeff Dowler, CRS

The trends continue, Dorie Dillard Austin TX  with low inventory, fairly quick sales, and many homes selling at asking or better. It's tough for buyers!

Jeff

Apr 07, 2024 08:23 PM