As a buyer or seller in the Encinitas real estate market, it is important 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 May 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 May 2009 there were 35 homes sold in Encinitas (a 25% increase in sales from April). Here's the breakdown of overall activity.
|
|
TOTAL HOMES |
Detached |
Attached |
|
Number
|
35 (up 25%) |
23 (up 21) |
12 (up 33%) |
|
Days on Market
|
46 |
55 |
20 |
|
Average Sales Price
|
$692,513 (down 15%) |
$857,472 (down 14%) |
$376,341 (down 3%) |
|
Average Sale $/List $
|
96% |
95% |
97% |
There was a significant bump up in sale volume in April, as we have seen in other communities including Carlsbad. At the same time the average prices declined for April.
NOTE: There is a new status that is important for buyers to know about. The MLS now tracks those properties that are CONTINGENT, i.e., ones that have accepted offers that are waiting short sale approval, or where offers are submitted to the ROE banks and awaiting approval. In the past these were lumped together in the ACTIVE category, becoming pending only once the offers were officially accepted by the banks. They are still considered active and will be included with the ACTIVE properties when tracking stats from month to month, but they do have a different status that impacts buyers who may want to submit offers (the offers would be considered back-ups).
At the end of May 2009 there were 268 Encinitas homes for sale, a 3% increase over April (this includes 16 homes with CONTINGENT status - 81% detached, 19% attached)). This represents an inventory of 5.6 months for attached homes, down from 6 months in April, and 10.5 months for detached homes at the current rate of sales, a decrease from 11.1 months in April (based on a 6-month period).
76 Encinitas homes came on the market in April (58 detached and 18 attached), compared to 62 the previous month (an increase of 23%), with 51 going pending during the same time period (40 detached, 11 attached), an increase of 6% over April, a trend we have seen each of the last 4 months.
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.
Watching the trends over time, as opposed to focusing on the data for one particular month, are more revealing and informative, and will provide a better index of what is happening in the Encinitas real estate market. If I can provide more information, please let me know.
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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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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com
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Hi Jeff, I have noticed the measurable amount of activity. I should think that perhaps we are finding our way out of the woods. Let us hope that is what is what is actually happening. But I am also reminded that even most terminal cancer patients can have remissions. If that sounds a bit neagtive , it is not intended to be. But when I look at the big things and the difficulties that abound this industry, I am reminded that we have only each day and we should make the best of it. I will have to leave the long term thinking to those that might know better.
William - well I would agree with that. We are seeing positive trends in some segments of the market bu twho nows what lies ahead. We keep hearing about the flood of REOs due to hit but not seeing them yet. People are complaining about the smaller inventory, particularly at the low end. Not sure qnyone really knows, but I will just keep going with what we have to work with. Pleased to see so many buyers out there.
Jeff
Jeff, I like the direction those numbers are going in, about time this type of activity starts to happen.
Could it be that the sellers are getting the fact that the properties that sell have a good price?
I wish our sales would increase. And I really need to get to work on some more market reports I have planned. My brain feels like mush though, so I've been slacking =/ Come on Jeff. Make me get motivated! lol
Hi Jeff,
Well done as always! Your 25% increase is sales looks great, but like here too our prices also declined for last month. At this point, I also expect the second half of 2009 to be significantly more active...we're seeing signs all around us now.