Susan, Home Buyer in New Canaan, CT

How would you describe the market in North SD right now? Hot/Cold? Inventory? Buyer's market? Effect of all the preforeclosures on pricing?

Asked by Susan, New Canaan, CT Sun Jan 20, 2013

Interested Carmel Valley, Encinitas, Carlsbad in the $800-$1.3 range. And yes, I'm looking for a Realtor with knowledge and experience. Prove to me that you're the one. Thank you all!

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3
Hi Susan,

We work heavily in those markets. Here is our view:

1. The prices in the coastal regions dropped less in contrast to other sections of San Diego County. The Coastal areas dropped an average of 15% from the time from 2007 to 2011. Areas of East county dropped an average of 45+% during the same time frame.

2. Since the end of Q1 2012 to present, the prices have risen an average of 10% in Encinitas, 6% in Carlsbad and 5% in Carmel Valley. Encinitas is up the most due to the desirability of the Encinitas school system. Otherwise, inventory is tight so the supply and demand curve are at work.

3. In Q4 2011, there were roughly 9,800 Single Family Residences (SFR) listed in San Diego County. Right now there are 3,082 SFR's listed in San Diego County.

The number of SFR's FOR SALE in each market in you price range is as follows:
Carmel Valley - 92130
26 For Sale
-Averages are 4BR, 4BA 2,984 SF @ $1,015,591
There are currently 23 in escrow
120 have Sold in the past 6 months

Encinitas - 92024 (Encinitas, Olivenhain & Luecadia)
22 For Sale
-Averages are 4BR, 4BA 2,958 SF @ $1,180,849
There are currently 16 in escrow
96 have Sold in the past 6 months

Coastal Carlsbad - 92011, 92008, 92018
18 For Sale
-Averages are 4BR, 3BA 2,902 SF @ $1,003,877
There are currently 8 in escrow
48 have Sold in the past 6 months

If you include all SFR sales in each area for the same zip codes:
233 Carmel Vally
249 in Encinitas
260 Sold in Coastal Carlsbad

Hence, you can see it is a highly competitive marketplace that would require detailed knowledge of your taste to make sure you only viewed homes you would purchase.

Best of luck in selecting an agent,

Mark & Kari Shea
Shea Real Estate
858-761-5233
mark.kari@shea-realestate.com
National Association of Realtors
CA DRE License 01713506
0 votes Thank Flag Link Mon Jan 21, 2013
I would love to help you. Generally, I offer to take each potential buyer out once on a home search or meet in person. It is only by spending a bit of time together I can adequately learn about you and convey what I know.

The real estate market throughout our county is brisk right now. Well priced homes are selling quickly. At your price range, you will find more inventory in Carlsbad and get more for your money.

If you have school age children however, Carmel Valley has an award winning school system. Prices are the high but it is a very popular community for families. Homes here tend to be a bit newer as a whole, from the 1980's up to today.

Encinitas is lovely - schools are good, but not rated as well as Carmel Valley. Primarily a neighborhood of older homes, there are some high end areas, particularly in "Leucadia' and Olivenhain.'

I would love to speak with you to better determine the type of home that will suit you and your family. Feel free to give me a call.

Cindy
(619) 379-8616
0 votes Thank Flag Link Sun Jan 20, 2013
Hi Susan.

Carmel and North County are up at least 10% over last year. Prices had dropped to absurdly low levels, so they are making a rapid come back. Multiple offers are pretty much the new norm. Inventory is at 7yr low. It is a sellers' market, and buyers who don't believe that are losing out when then don't make appropriate offers.

Feel free to search by map at http://www.MichaelJLambert.com. Bear in mind please that all public sites show active and pendings together as "active", so only about 25% of listings are actually available, with the rest being in escrow, ie: sellers have accepted an offer.

California you may know is an escrow state, so we don't all sit around a table with attorneys to close the transaction. An escrow company handles the paperwork and neither buyer nor seller is present for the closing. It just happens. So when you hear a house is in escrow, that means paperwork in process and it will eventually close.

Sunny and 72 here today.
0 votes Thank Flag Link Sun Jan 20, 2013
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