2018 Year-End Market Report for Encinitas CA
Detached Single Family Homes
Here is an overview of what happened in the housing market for detached single family homes in the coastal community of Encinitas, just south of Carlsbad, in 2018, with a number of shifts as compared to 2017.
Encinitas offers a broad mix of single family detached homes, from bungalows in the funky Leucadia area (a community at the north end of Encinitas), to multi-million dollar ocean-front bluff-top homes along Neptune Avenue, to golf course frontage and view homes in Encinitas Ranch, to expansive homes on large lots and equestrian properties in Olivenhain. You will also find some new construction!
2018 HOUSING MARKET FOR ENCINITAS
414 detached single family homes sold in 2018, a decline by 7% from 2017 sales, and a drop of 17% from 2016.
The average sales price for 2018 was $1,505,512, an increase of 9% over 2017 average sales prices, and up 10% from 2016, a trend we also saw in Carlsbad.
The average marketing time was 34 days, down slightly from 37 days for 2017 sales. Encinitas homes continue to sell relatively quickly in general.
Prices for detached single family homes sold in 2018 ranged from $665,000 to $9,750,000 (median price was $1,282,500) for a stunning 5800 SF ocean-front home near Moonlight Beach. While one could say there is something for everyone, Encinitas prices go up rather steeply; only 9 homes sold for under $750K last year, and well less than half the sales (27%) were under $1 million.
24% of the single family detached homes sold in 2018 in Encinitas were cash transactions (versus 22% in 2016).
Homes sold, on average, at 96% of the asking price. However, while Encinitas buyers negotiated their prices down below asking prices on average, 36% of the home buyers paid full price or more for their homes!
CURRENT ACTIVITY IN ENCINITAS AS OF JANUARY 29, 2019
As of this writing there are 76 single family detached homes on the market ranging from $748,000 to $10,995,000 an ocean-front home south of Moonlight Beach and close to downtown Encinitas.
29 single family homes are pending right now, with original pricing from $750,000 to $3,995,000 (average price is $1,777,616). These homes have been on the market an average of 47 days before going pending.
With the rate of sales in the last 3 months, and current listings, there are about 2.3 months of inventory available. Buyers can expect some multiple offers, especially in the lower price ranges, and Encinitas remains a strong seller’s market for buyers of detached single family homes.
See the December 2018 Encinitas housing market report for more details.
If you would like more information about the Encinitas housing market in general, or regarding specific neighborhoods (Olivenhain, Leucadia, Encinitas Ranch), and would like to discuss your housing wants, needs and budget, let’s set a time to talk and plan a strategy to get you into a new home in Encinitas in 2018! Please call me at (760) 840-1360.
Are you considering selling your Encinitas home?
I’m happy to provide you with a free market analysis of your Encinitas home, discuss the local market conditions and their impact on you, and help you prepare your home for sale to maximize the price in today’s market.
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If I can provide more information about homes for sale in Carlsbad and in surrounding areas, our local housing market conditions, or assist you, friends or family in a purchase 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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