Encinitas Real Estate Market Report - May 2011
As a buyer or seller in the Encinitas real estate market, it is important to have information 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 2011 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 due to how data may be entered into the MLS system.
READ MORE: Encinitas - An Eclectic Seaside Community
Leucadia- Surfers' Beach Community in Encinitas CA
In May 2011, 50 homes sold in the Encinitas real estate market, an increase of 11% from April, and the 4th consecutive increase in sales volume. Here's the breakdown of overall activity.
|
|
TOTAL HOMES |
Detached |
Attached |
|
Number
|
50 (up 11%) |
32 (down 6%) |
18 (up 72%) |
|
Days on Market
|
63 |
69 |
53 |
|
Average Sales Price
|
$669,457 (down 3%) |
$829,890 (up 6%) |
$384,243 (down 6%) |
|
Average Sale $/List $
|
97% |
97% |
97% |
Home sales rose again in May in the Encinitas real estate market for attached homes, with a decline in detached home sales. Average home sales prices shifted upwards for detached homes, but saw a decline, on average, for attached homes.
There were 29 homes with a Contingent status at the end of May (i.e., short sale and foreclosure homes having offers that are being considered by the lenders), about the same as the last 2 months. These homes are considered Active and are included in the overall active statistics.
For May 2011 the Encinitas real estate market saw a modest 4% decrease in inventory, with 266 Encinitas homes for sale at the end of May (versus 276 last month). This represents an inventory of 5.9 months for attached homes, down from 7.4 months in April, and 6.9 months for detached homes at the current rate of sales, down from 7.3 months in April (over a 6-month sales period).
READ MORE: How Important is Inventory when Buying or Selling? Very!!
95 Encinitas homes came on the market in May as compared to 90 last month (up 6%); the number of homes going pending increased over April pendings, from 47 to 58.
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 sense of what is happening in the Encinitas real estate market. If I can provide more specific information or answer any particular questions, please let me know.
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READ MORE:
Encinitas Homes for Sale | Encinitas Real Estate Market Report for April 2011
Encinitas Homes for Sale - Encinitas Real Estate Market Report for March 2011
Encinitas Homes for Sale - Encinitas Real Estate Market Report for February 2011
Encinitas Homes for Sale | Encinitas Real Estate Market Report for January 2011
Encinitas Homes for Sale | Encinitas Real Estate Market Report for December 2010
Encinitas Homes for Sale | Encinitas Real Estate Market Report for November 2010
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Encinitas CA has the sales at the right price Jeff...hope the market keeps its steady course in your area...best