For the week of Sept. 17th, the median list price in Encinitas is $1,299,000. This price reflects many homes on the market west of I-5 and west of 101.
Lately, the inventory has been tightening as more homes have been selling. Since this is a buyer’s market, prices are still not moving upward even though inventory is being consumed. However, as the trend continues for more demand and less supply, the market may move to becoming a seller’s market, and prices will then begin to move up.
The average days on the market in Encinitas has increased to 149 (5 months). 41% of the properties on the market have had a price decrease this week. Sellers seem to be pushing to get an offer on their homes as fall begins.
Now continues to be a good time for buyers to make offers on houses currently on the market. Sellers are motivated to sell and will look seriously at all feasible offers.