Here are some summary statstics from the MLS for September for Encinitas, considering both attached and detached homes (I compile these stats each month). Keep in mind that this represents only a snapshot of the market, and you must really look at the trends over a number of months to see what is happening.
The inventory dropped slightly from August, and the number of homes sold and oging under contract increased a little. Days on market increased slightly. The median price of detached homes dropped by about 1% from the previous month. Please feel free to email me if you would like further information or have questions about the market.
AS OF SEPT. 30, 2006 | ATTACHED HOMES | DETACHED HOMES |
Active | 114 | 264 |
Sold in Last 6 Months | 92 | 214 |
Sold/Pending In Last 6 months | 107 | 263 |
Absorption Rate (Solds) | 223 days | 222 days |
Absorption Rate (Solds Plus Pendings) | 192 days | 181 days |
Average Days on Market | 75 | 62 |
Median Price Change From 1 Year Ago | -3% | -7% |
Median Price | $485,000 | $840,000 |
Average Price | $555,656 | $1,062,559 |
New to Market (Sept.) | 30 | 55 |
Pending in Sept. | 3 | 9 |
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This sounds like a good sign that the market is stabilizing in North County
Thanks Brian. I think that is the case is some areas. I am working on the stats for OCtober which is, preliminarily, showing that the absorption rates are below 6 months for a number of communities, among other things. SMall changes, but encouraging.