Encinitas Homes for Sale - What Happened in the Encinitas Real Estate Market in January 2012?

As a buyer or seller in the Encinitas real estate market, you need to understand the market conditions so you can make a more informed decision about what to do with regard to buying or selling your Encinitas home.

Here’s what happened in the Encinitas real estate market for January 2012 based on statistics from the MLS (private sales are not included nor are manufactured, mobile or multi-family homes). These data are deemed reliable but are not guaranteed due to how data may be entered into the MLS system.

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In January 2012, 29 homes sold in the Encinitas real estate market, 41% fewer than in December. Here’s the breakdown of overall activity.

	TOTAL HOMES	Detached	Attached
Number	29 (down 41%)	20 (down 41%)	9 (down 40%)
Days on Market	54	69	40
Average Sales Price	$893,355 (up 9%)	$1,146,715 (up 11%)	$330,333 (up 2%)
Average Sale $/List $	96%	96%	96%

Home sales in January declined across the board fairly significantly. At the same time average sales prices increased. Buyers in the Encinitas real estate market can expect, on average, to negotiate about 4% off the asking price based on recent sales.

There were 44 homes with a Contingent status at the end of January (i.e., short sale and foreclosure homes having offers that are being considered by the lenders), about the same as last month. These homes are considered Active and are included in the overall statistics.

For January 2011 the Encinitas real estate market saw a 4% decrease in inventory, with 213 Encinitas homes for sale at the end of January (versus 221 last month), the 3^rd month of decline, making the Encinitas market a bit tighter for buyers.

This represents an inventory of 4.2 months for attached homes, down from 4.3 months in December, and 5.2 months for detached homes at the current rate of sales, up from 4.9 months in December (over a 6-month sales period). The Encinitas real estate market remains competitive for buyers and is trending toward more of a seller’s market for attached homes.

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70 Encinitas homes came on the market in January as compared to 44 last month; we also saw an increase in the number of homes going pending in January (excluding homes that actually sold in January), from 28 to 44 (up 57%).

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 sense of what is happening in the Encinitas real estate market. If I can provide more specific information or answer any questions, please let me know.

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