September 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 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

September Property sales were 44, up 63.0% from 27 in September of 2011 and -4.3% lower than the 46 sales last month. September 2012 sales were at their highest level compared to September of 2011 and 2010. September YTD sales of 338 are running 22.5% ahead of last year's year-to-date sales of 276.

Prices

The Median Sales Price in September was $697,750, down -10.0% from $775,000 in September of 2011 and down -13.6% from $807,500 last month. The Average Sales Price in September was $933,893, up 10.9% from $842,352 in September of 2011 and up 3.8% from $900,130 last month. September 2012 ASP was at a mid range compared to September of 2011 and 2010.

Inventory & MSI

The Total Inventory of Properties available for sale as of September was 112, down -16.4% from 134 last month and down -40.7% from 189 in September of last year. September 2012 Inventory was at the lowest level compared to September of 2011 and 2010.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The September 2012 MSI of 2.5 months was at its lowest level compared with September of 2011 and 2010.