February 2016 Housing Market Update

The North San Diego County Association of Realtors have released their local market update report for each city in North County. Below are the latest housing statistics for Encinitas, compared with the state of the market in February 2015:

Less Inventory

  • 13.8% decrease in new detached single-family listings
  • 20.8% decrease in new attached single-family listings

 

  • 40.4% decrease in pending sales of detached single-family homes
  • 18.8% decrease in pending sales of attached single-family homes

 

  • 80 total detached single-family homes for sale, a decrease from 99 homes in 2015
  • 20 total attached single-family homes for sale, a decrease from 25 in 2015

 

  • Monthly inventory went from 2.7 detached single-family homes in 2015 to 2.2 homes in 2016
  • Monthly inventory dropped from 1.4 attached single family homes in 2015 to 1.2 homes in 2016

 

Higher Prices, Higher Value

  • Last month’s median sales price for detached single-family homes was $1.13 million, a significant increase from February 2015’s median sales price of $870,000
  • Median sales price of $521,000 for attached single-family homes in 2016, compared with $458,000 in February 2015

 

  • Average detached single-family home sales price of $1.29 million, an increase of 15.3%
  • Average attached single-family home sales price of $585,056, an increase of 12.6%

 

  • Detached single-family home sellers received 95.8% of their original listing price, and 97.6% of their final listing price; both are improvements from February 2015 with respective increases of 0.4% and 1.5%
  • Attached single-family home sellers received 97.8% of their original listing price, and 98% of their final listing price, both of which have increased from February 2015

 

 

 

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