Encinitas Real Estate - Encinitas Market Report for August 2009

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Real Estate Agent with Solutions Real Estate CalBRE Lic #01490977

Encinitas real estate market report

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 August 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 due to how data may be entered into the MLS system.  

READ MORE: Encinitas - An Eclectic Seaside Community 

In August 2009 there were 38 homes sold in Encinitas (a 30% decrease in sales over July). Here's the breakdown of overall activity. 

 

TOTAL HOMES

Detached

Attached

Number

38 (down 30%)

28 (down 32%)

10 (down 23%)

Days on Market

46

54

25

Average Sales Price

  $826,293 (up 17%) 

  $1,004,973 (up 24%) 

  $325,990 (down 11%) 

Average Sale $/List $

95%

94%

99%

Home sales declined in the Encinitas real estate market across the board. Days on market declined overall and for detached homes but rose for attached properties. In contrast, average sales prices rose dramatically overall, primarily due to a significant increase in the average price of a detached home which rose above $1 million, something we have not seen for over a year, while the average price for an attached home decreased. 

There were 32 homes with a Contingent status at the end of August (i.e., short sale and REO homes having offers that are being considered by the lenders), just about the same as July.  These homes are still considered Active and are included in the overall active statistics. 

At the end of August 2009 the Encinitas real estate market had 249 homes for sale, 6 fewer than in July (down only 2%). This represents an inventory of 4.4 months for attached homes, about the same as July, and 6.8 months for detached homes at the current rate of sales, a decrease from 7.4 months in July (based on a 6-month period).

READ MORE: How Important is Inventory when Buying or Selling? Very!! 

64 Encinitas homes came on the market in August compared to 69 the previous month, with 40 going pending during the same time period, a decrease of 9% from July. 

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 specific information or answer any particular questions, please let me know. 

READ MORE:

Encinitas Real Estate - Encinitas Real Estate Market Report for July 2009

Encinitas Real Estate - Encinitas Real Estate Market Report for June 2009

Encinitas Real Estate - Encinitas Market Report for May 2009

Encinitas Real Estate - Encinitas Market Report for April 2009

Encinitas Real Estate - Encinitas Market Report for March 2009

Encinitas Real Estate - Encinitas Market Report for February 2009

Encinitas Real Estate - Encinitas Market Report for January 2009

 

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If I can provide more information about Encinitas real estate 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.

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All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

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Topic:
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California San Diego County Encinitas
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Ambassador
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Robert & Lisa Hammerstein
Bergen County NJ Real Estate
Keller Williams Valley Realty

Hey Jeff,

Great report!  Your customers are lucky to have you there to help them learn the market in Carlsbad.  You're obviously the go-to guy.

September 04, 2009 09:33 AM
Rainmaker
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Maria Morton
Kansas City Real Estate 816-560-3758
BHG Real Estate - Kansas City Homes

Jeff, so the sales volume is down but the average home price is up? That's good news!

September 04, 2009 09:45 AM
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Jeff Dowler CRS
Carlsbad CA Homes for Sale (760) 840-1360
Solutions Real Estate

Bob and LIsa - thanks. I appreciate the compliment. Hoope you guys have a terrific holiday weekend - hard to believe it's here already.

Maria - I was surprised that the volume shifted down so much, but this trend of volume down and prices up has now occurred several times, and in more than one community in my area. It will be interesting to see where it goes as we head out of summer and folks get back to their routines. And when those REOs start to hit.

Jeff

September 04, 2009 10:19 AM
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Patricia Kennedy
For Your Home in the Capital
Evers & Company Real Estate, Inc.

Jeff, it looks like the sales prices have gone up, which is a very good sign! 

September 04, 2009 12:24 PM
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William Johnson
San Diego Real Estate Voice, GRI CRS e-Pro CDPE
RE/MAX Associates

Hi Jeff, I got a call today from a past client that they are ready to move up to the next level. hat bodes well well and will likely be taking one the homes out of this reports inventory soon. What motivated them to call was a report that prices are rising and they want in now. So that is good news and direct result of the favorable reports of the market improving.

September 04, 2009 05:28 PM
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George Souto
Your Connecticut Mortgage Expert
George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut

Jeff, the sales price going up is good, but a 30% decrease in sales is not good.  I will be interesting to see if that trend continues next month.

September 04, 2009 07:24 PM
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Jeff Dowler CRS

Carlsbad CA Homes for Sale (760) 840-1360
What's my Carlsbad CA Area Home Worth??
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