Encinitas Home Values lower but stable in September '09

September '09 average sales price ($917,970) for a home in Encinitas, including Leucadia and Olivenhain dipped 7.3% from September of '08, while the median sales price dipped nearly 20%.

How do you calculate Sales Price VS Average Sales Price?

Quick answer: Median price is half are below, half are above
Average price: All sold prices are added together into a sum;
the sum is then divided by the number of houses that sold.

*More homes sold below the average value in '09 vs '08, affecting the median price more than the average price

The number of sales increased from (28) homes sold in September '08 to (34) in September of '09.

Of the (28) homes sold in September of '08, (17) were financed conventionally (20% min. down), (9) were purchased with Cash and (2) used FHA financing (3.5% min.down).

Of the (34) homes sold in September of '09, (25) were financed conventionally, (8) were purchased with Cash and (1) FHA.

REO (Bank Owned) sales doubled from (3) in September of '08 to (6) in September of '09, which is very low compared to other cities in North San Diego County.

Shortsales (selling for less than what is owed) increased from a single short sale in September of '08 to a whopping (3) in September of '09. These too are very low compared to other cities in North County San Diego.

Currently, there are (152) active properties for Sale in Encinitas with (55) currently in Escrow.

If you would like to view all properties in Encinitas for sale, please visit http://sd.nethomes.com

Encinitas can be divided into five areas:

• Old Encinitas: a small beachside area featuring a mix of businesses and housing styles.
• New Encinitas: a newer region which features a golf course, larger tract homes and many shopping centers.
• Olivenhain: a semi-rural region in eastern Encinitas with mostly single family homes and an active 4-H Club.
• Leucadia: which has an older tree lined area featuring art galleries, unique stores and restaurants along with single family homes.
• Cardiff-by-the-Sea: Encinitas' southernmost oceanfront community, which features single family homes and a community college.

This report was prepared by Robert Sizer, 15 year Residential Real Estate Professional, specializing in North San Diego Coastal Properties, utilizing data from Sandicor MLS. The information is not guaranteed, but darn close for sure!

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