What is the real forecast for Encinitas real estate?

Asked by Peg Ferran, 92024 Mon Apr 13, 2009

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Dennis Smith’s answer
Dennis Smith, Agent, Carlsbad, CA
Tue Apr 14, 2009
Peg,

I have lived and been a Realtor in Encinitas for the last 15 years. It is a wonderful community. You will enjoy it here if you like temperate, Mediterranean climate and lots of activities.

We have 5 different communities and several different markets in Encinitas. It is difficult to generalize about any diverse area like this.

We are in a strong sellers market for non-short sale detached houses under the median Encinitas price of $650,000. The definition of a sellers market is that there is less than 6 months inventory. There are 18 houses for sale, 15 in escrow & 46 sold in the last 6 months hence a 3 month supply. We are seeing multiple offers on many homes in this range. There are only 2 bank owned houses available and 3 in escrow so foreclosures are not playing a big part in the coastal market.

Non-short sale houses above the median are in a very different situation. There are 169 active listings, 26 in escrow and 55 sold in the last 6 months. Part of this is due to the difficulty of getting jumbo financing. That is changing as shown in the pending listing count. There is only one bank owned house available here.

There are several short sale houses in all price ranges but those are difficult to buy & close.

The condo market is even more of a sellers market with 58 active listings, 24 pending and 50 sold in the last 6 months.

This is a desirable place to live without many of the causes of the morgtage meltdown...a great stable place to live & buy.

You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm

Dennis Smith, Taylor Place Real Estate
dennis@SanDiegoHomes4u.com
760-436-0087
View all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm

My Market Trends Report with graphs and charts for North Coastal San Diego
will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm
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