Encinitas Real Estate Market Update January 2014

Encinitas Real Estate Market Data

For January 2014

In this video, you’ll get the latest news in Encinitas real estate activity with this real estate market update video from Michael Gaddis, J.D. Realty Group. If you are thinking of buying or selling a home in Encinitas, this information will help you know how to price your home correctly or plan a strategy in making an offer in the current market. Look for updated real estate updates in Encinitas, Ca bi-monthly. For help with all your North County San Diego real estate needs call 760.487.8266 or email contact@michaelgaddis.com to let us know your situation.

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ENCINITAS REAL ESTATE MARKET UPDATE VIDEO TRANSCRIPT

**This transcript is auto generated by YouTube, pardon any errors, it’s just a poor machine.

Hi I’m Michael Gaddis your local in Encinitas real estate expert. This is the market conditions report for the time period December 1st 2013 through January 17 2014. What I’ve done is I have taken at the active, contingent, pending and sold listings that occurred during that time period. I’m going to come to go to the data with you. I pull the data from the SANDICOR MLS the local MLS  and I believe the data gives a pretty good indication of what kinda the state in the market is in insidious from an objective standpoint I’m kind of a numbers guy so I like to hurt you can analyze data and  and kinda formulate my opinions initially based upon the objective data then taken some subjective tighter criteria after that. So currently an insidious there are 84 active listings and the average square footage those listings just 3,200 92 square feet  the average list price is 1.7 million dollars in the average list price per square foot is 666 dollars per square foot  interesting number but it is 666. The average days on market  is 68 days there are currently two contingent listings in Encinitas. For those of you who do not know what a continued listing is, a continued listing usually refers to a short sale. It’s a listing that require some sort of approval what whether it be from  a lender are from a from a core so it’s not necessarily its word offer has been accepted but it has its not currently in escrow so it’s kind of in a limbo status between the two. So we categorize those contention. There are currently only two contingent listings in sneers at this time. The for average a home is 2,640 square P with an average lmao list price: a 809 dollar 890,000 an average list price per square foot  331 dollars an average days on market  400 eighty days now that time period. It is very high and but that’s typical a short sales in this particular one is skewed by the fact that one in the short sale. So there’s only two had two days on market: have 700  30 days so that was over two years so they’re still negotiating this house and ended someone who knows what’s going to happen with it because it’s been there for quite a while. It looks like the price per square foot on it is a little bit low. And there are currently 32 pending listings an insidious on the average square foot for the pending listings is 2600 18 square feet  the average list price for these houses is 1.3 million in the average list price per square foot is 588 dollars a square. The average days on market is 53  days on market: which is not a bad amount of time. It looks like again the average list price 1.3 million average size a poem 2,680  on there are 46 all listings that have occurred from December 1st 2013 to January 17 2014  the average square foot for these homes the sold homes is 2,449 square. The average list price for these homes is 1.2 million. The average list price per square foot is 543 dollars per square foot. Now that’s all you know fine however the real  information comes in what the actual sold price for these average listings ago were and what the average so price per square foot comes out to be  the list price per square foot doesn’t mean anything in till its old. So once it’s sold at a real that’s a proper reflection of what’s actually  happening in the market in this case in  the average sales price a was 1.1 million r1 11 44 277 so roughly around 1.1 for the average sale price are sold price per square, but was 519 dollar square foot. So the 519 dollars reflects a little bit up with her actual current market status is however if you notice the pending price per square foot is it the average is 588 and the active the active list price per square but was 666. So it shows an upward trend in an the ones coming down the pipeline if they do close to what they’re being asked for anywhere near it that’s gonna raise that price per square foot and keep in mind that these houses are selling. The ones that are selling car in a typically slow market so you know the winter time is not necessarily is aggressive. You don’t usually get the full value of all potential in your value during these months because nobody wants to move during the holidays are in the winter time for know their kids in school. So it’s a little bit more you know you did take a little bit when you sell your house during that time period. I think that maybe these new and active pending listings in the pipeline  probably better reflect what the price per square foot is going to be in the near future. So the one thing that sometimes people like to know is what the most expensive house that sold in Encinitas during that time period. The most expensive house that sold in Encinitas on December 6 2013 at 1 South Coast Highway 101. It was a 2,327 square foot home. It’s all for 3-point eight million dollars so that a great sale. It’s you know over near the ocean and because it wasn’t an overly large so probably has a stellar view. That’s the current state of the market in Encinitas. I hope you enjoy this video. If you have any questions or comments you would like to contact me in the future, you can reach me at  area code 760-692-5950 760-692-5950 or you can visit me on my website at www.MichaelGaddis.com that’s www.MichaelGaddis.com. Thank you so much.

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