Encinitas real estate is following the trend nationwide of shrinking inventories, which is helping to boost the market for Encinitas real estate. Inventories across the United States, but especially in California, have been decreasing each month and thus increasing listing prices. Several indicators are suggesting that housing markets are stabilizing.
The August 2012 Real Estate Trend Data Report was just released and covered by Inman News. The report notes that for the month of August 2012 the number of homes for sale fell 18.68% nationally compared to the same month in 2011. The total number of homes for sale is currently 1.84 million.
Also down for the month of August was the median age of inventory (the number of days a house sits on the market on average), while median list price saw an increase of 0.5% nationally. As of August the median age of inventory was 91 days and the median list price was $190,000.
Of the Top 10 markets seeing annual inventory declines for August 2012, 8 were metro areas located in California. The San Diego metro area (which includes homes for sale in Encinitas) saw a year-to-year increase of 3.58% in median list prices (which are now $372,900), and saw a significant decrease in total listings and median age of inventory year-to-year of 34.83% and 17.33% respectively.
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