Encinitas Home Values continue to slip in October 2009

The average sales prices in October '09 was $800,000, including Leucadia and Olivenhain, which is down from an average of $864,000 in October '08.

The highest priced home to sell in October of ‘08 was $3,850,000 for a palatial 8,900 Sq.Ft. home, on a 3.14 acre lot in Wildflower Estates.

In October of '09, the highest priced home to sell was $3,299,000 for a 7,000 Sq.Ft. home, located on 2.8 acres also located in Wildflower Estates.

The number of sales decreased slightly from (33) homes sold in October '08 to (30) in October of '09.

Of the (33) homes sold in October of '08, (28) were financed conventionally (20% min. down), (3) were purchased in Cash and (2) used FHA financing (3.5% min.down).

Of the (30) homes sold in October of '09, (18) were financed conventionally, (6) were purchased with Cash and (6) FHA.

REO (Bank Owned) sales were down from (8) in October of '08 to (3) in October of '09, which is extremely low compared to other cities in North San Diego County.

Shortsales (selling for less than what is owed) increased from zero sales in October of '08 to a modest (3) in September of '09. These too are extremely low compared to other cities in North County San Diego.

There are (148) active properties for Sale in Encinitas with (55) currently in Escrow, representing a fair balance.

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

Moonlight Beach, Encinitas

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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