October Real Estate Market Profile

A question I am commonly asked as a Realtor is: "What is the condition of our local Encinitas real estate market?" Well, as a response, see below for a "Market Action Report" that I have created for the month of October to illustrate where we stand these days in Encinitas. 

 *(note, the data comes from detached homes only, and does not include condos, or townhomes)

Property Sales

October Property sales were 40, up 60.0% from 25 in October of 2011 and -9.1% lower than the 44 sales last month. October 2012 sales were at their highest level compared to October of 2011 and 2010. October YTD sales of 376 are running 23.7% ahead of last year's year-to-date sales of 304.

Prices

The Median Sales Price in October was $912,500, up 40.1% from $651,200 in October of 2011 and up 30.8% from $697,750 last month. The Average Sales Price in October was $1,059,054, up 36.8% from $774,012 in October of 2011 and up 19.7% from $885,030 last month. October 2012 ASP was at highest level compared to October of 2011 and 2010.

Inventory & MSI

The Total Inventory of Properties available for sale as of October was 107, down -1.8% from 109 last month and down -40.6% from 180 in October of last year. October 2012 Inventory was at the lowest level compared to October of 2011 and 2010.

(A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2012 MSI of 2.7 months was at its lowest level compared with October of 2011 and 2010.)