There is about 30% less homes for sell in Encinitas, CA compared to this time last year.
June 16, 2014 /MM-prReach/ —
The San Diego county city of Encinitas, CA saw significant decrease in real estate inventory for sale compared to last year this time. There is about a 30% decrease in inventory of homes. Approximately 87 homes are listed for sale in Encinitas compared to 124 last year according to Movoto, a real estate brokerage. The median price also decreased from May last year but the trend is slowing and should increase as the summer months approach.
Encinitas is a beach city located approximately 25 miles north of San Diego. The median number of days a property is listed in Encinitas is significantly shorter than the national average. Homes are on the market about 36 days before being sold. May had more sales than the previous month as well as an increase of the median sales price according to Zillow.com. Zillow predicts that home values will rise 3.1% in the next year.
Encinitas housing market is considered healthy with 2.3% of the homes delinquent on their mortgage compared to the national average of 7.2%. Foreclosed homes remain the same but still low at .4 per 10,000 compared to San Diego Metro at 2 homes per 10,000, and the United States at 4.6 homes per 10,000 as stated by Zillow.com.
“If you are thinking of putting your house on the market now is a great time,” says Scott Gaddy, a principle with Gaddy & Associate’s Real Estate. “ We are seeing a strong demand from people that want to find a new home and be moved in before school starts in August.”
Encinitas is comprised of five distinctive areas: Old Encinitas, New Encinitas, Olivenhain, Leucadia, and Cardiff-by-the-Sea. Home prices can vary widely in each of these areas but as a whole, Encinitas homes are pricier at $448 per square foot versus San Diego Metro at $292 per square foot as listed on Zillow.com.
Residents of Encinitas experience a mild Mediterranean climate with a daily average high temperature of 72 degrees F. It rarely is colder than 40 degrees even during winter. Average rainfall is about 10 inches. Encinitas enjoys over 47 acres of beaches, 143 acres of developed and undeveloped parks with over 40 miles of trails. Its’ Swami’s State Beach is rated in the top 5 surf locations is even mentioned in a verse of The Beach Boys song “Surfin’ U.S.A.”
For more information about Encinitas or homes to buy or sell in Encinitas, please contact Scott Gaddy at: (760) 888-5226 or www.scottgaddyrealestate.com.
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