It is important that when you are looking at Encinitas homes for sale that you know what the current market offers. By keeping you informed on market trends of Encinitas homes for sale, I can fulfill my role as an Encinitas real estate agent more effectively. Here is some of the latest news that directly affects the housing market in Encinitas:
The number of unsold homes on the market around the country was at its lowest in 5 years, currently running at approximately 6.5 months of inventory. In California the inventory numbers are even lower, at 4.2 months. Inventory is not just low in distressed homes with negative equity, but is also reaching into the mid to high level listings as well.
Median prices are also showing a significant increase; up 5% from April of 2011 to April 2012 and currently resting at $308,050 – the first time the median price has risen above $300,000 in over 18 months. The constrained inventory levels which we are now seeing are helping to increase prices in California, which is leading to more sales. Sales for existing single-family homes have been above 500,000 units for the past six months in a row reaching as high as 555,000 in April.
If you are looking for an Encinitas home for sale, now is the time to buy while prices are still low and before the inventory thins out even more.