As a buyer or seller in the Encinitas real estate market, it is important for you to have data about the market conditions in order to make a more informed decision about what to do with regard to buying, or selling, your Encinitas home.
Here is a summary of the Encinitas real estate market for March 2009 based on statistics from the MLS (private sales are not included nor are manufactured and mobile homes). These data are deemed reliable but are not guaranteed.
In March 2009 there were 31 homes sold in Encinitas (a 35% increase in sales from February). Here's the breakdown of overall activity.
|
|
TOTAL HOMES |
Detached |
Attached |
|
Number
|
31 (up 35%) |
18 (down 16%) |
13 (up 650%) |
|
Days on Market
|
41 |
34 |
51 |
|
Median Sales Price
|
$500,000 (down 17%) |
$615,000 (up 1%) |
$466,961 (up 26%) |
|
Average Sales Price
|
$606,800 (down 26%) |
$707,794 (down 18%) |
$367,000 (down 1%) |
|
Average Sale $/List $
|
95% |
94% |
95% |
Most notable is the large increase in sales volume over February, up 35%, due primarily to the 13 attached homes sold in March, a whopping increase over the 2 sold in February; 18 detached homes sold (a decline from 21 February sales). This large increase in the lower priced attached homes likely contributes to the declines in the average and median prices for Encinitas homes sales in March 2009.
At the end of March 2009 there were 265 Encinitas homes for sale, a 2% increase over February which had increased over January. This represents an inventory of 7.1 months for attached homes, about the same as in February, and 10.1 months for detached homes at the current rate of sales, an increase from 9.1 months in February (based on a 6-month period).
67 Encinitas homes came on the market in March (54 detached and 13 attached), compared to 71 the previous month (a modest decrease of 6%), with 38 going pending during the same time period (26 detached, 12 attached), an increase by 9% over February.
It is noteworthy that 16 of the homes that came on the market in March also went under contract in March (24% of the new listings).
These data are based on information provided by the MLS for homes that went under contract in the last couple of months. More details about the Encinitas real estate market can be provided with regard to current activity as well as within specific areas such as Encinitas Ranch, Leucadia and Olivenhain.
READ MORE:
Encinitas Real Estate - Encinitas Market Report for February 2009
Encinitas Real Estate - Encinitas Market Report for January 2009
Encinitas Real Estate - Encinitas Market Report for December 2008
Encinitas Real Estate - Encinitas Market Report for November 2008
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If I can provide more information about Encinitas, Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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Hi Jeff, Seems like a quiet day here in the Rain. How was the REBar camp? I need to read down in some of your posts for some of the great insights you most likely shared. This past two weeks has been great for business and I haven't had the time to even post, though did write some things that need edited before bring to the Rain. I dropped in the ranks but as bad as that feels, the business I put into escrow was also important. So no complaints, traded one thing for another.
I hope things have also picked up for your business as well and I am sure it has. Your market report here reflects the general trend all over San Diego, Things are popping and I expect Spring will ultimately be said to have been the rise from the ashes that many of us had hoped for. ( at least the ones of that that don't spend every waking moment with REO's and Short Sales. It might be a bit premature to bring out the champagne but it certainly feels different from the last year and a half and it feels encouraging even if short lived.
Jeff, Who was driving when this photo was taken? Good to hear your market is doing well.
More of those cool looking buildings! I love those elevations. I still wish we had those artsy buildings here =( Darn it. South Florida and California get all the cool buildings.
Jeff that is a similar increase to what you also saw in Carlsbad. I like seeing positive numbers in sales, keep it up.
Hi Jeff - It was great to see..."It is noteworthy that 16 of the homes that came on the market in March also went under contract in March (24% of the new listings)."
That certainly is noteworthy. Thanks for the great detailed report!
Jeff, I have been following your market reports regularly and I agree with George that it is good to see sales increases. Is it possible that some of these increases are because of a seasonal effect? Perhaps as we move in to spring the number of sales will increase because more buyers are out? Maybe you could include the month's sales and current inventory and compare it with the corresponding month in the previous year. This would be more likely to show seasonally adjusted data and a year over year trend could be identified. As a prospective buyer this is the kind of data I would be interested in seeing before seriously considering purchasing in what has been a declining market. Thanks for all the great insight and blog entrees. -Dave