Here are the last two months of summary statistics from the MLS for Encinitas, CA. The biggest change is the drop off in inventory from October to November, which is not unusual as we enter the holiday season. Prices have dropped a little but only 1% when comparing November to October.
If I can provide more information or there are any questions, please let me know. As always, one should not draw any firm conclusions from monthly data as things change from month to month, but the trends are helpful to watch.
AS OF OCT. 31, 2006 | ATTACHED HOMES | DETACHED HOMES |
Active | 115 | 243 |
Sold in Last 6 Months | 86 | 210 |
Sold/Pending In Last 6 months | 96 | 261 |
Absorption Rate (Solds) | 241 days | 208 days |
Absorption Rate (Solds Plus Pendings) | 216 days | 168 days |
Average Days on Market | 74 | 64 |
Median Price Change From 1 Year Ago | -6% | -6% |
Median Price | $480,000 | $840,000 |
% Chgn. In MDN from prior month | -1% | 0% |
Average Price | $548,460 | $1,053,911 |
New to Market (Oct.) | 28 | 50 |
Pending in Oct. | 11 (4 new in Oct.) | 39 (6 new in Oct.) |
AS OF NOV. 30, 2006 | ATTACHED HOMES | DETACHED HOMES |
Active | 94 | 223 |
Sold in Last 6 Months | 63 | 193 |
Sold/Pending In Last 6 months | 83 | 256 |
Absorption Rate (Solds) | 269 days | 208 days |
Absorption Rate (Solds Plus Pendings) | 204 days | 157 days |
Average Days on Market | 74 | 66 |
Median Price Change From 1 Year Ago | -1% | -1% |
Median Price | $475,000 | $835,000 |
% Chgn. In MDN from prior month | -1% | -1% |
Average Price | $542,715 | $1,056,131 |
New to Market (Nov.) | 11 | 49 |
Pending in Nov. | 17 (1 new in Nov.) | 34 (7 new in Nov.) |
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It looks like things are still slowing but detached homes are slowing less.