Encinitas is a Super Hot Real Estate Market Right Now!!!

Sold Sign 1If you live in Encinitas and you have been thinking of selling your home, now is the time!!!  If you have been thinking of purchasing a home in Encinitas you had better do it now because if you wait, you might just wait yourself out of affordability.  Encinitas is a super hot real estate market!  Encinitas is a coastal community famous for surfing.  In fact, Surfer Magazine ranked Encinitas as the #3 surf town in the USA behind Haleiwa, HI and Santa Cruz, CA.  Encinitas has very distinct communities such as the surfer beach town atmosphere of Leucadia and the equestrian Olivenhain.  Encinitas is also very popular due to its great weather and fantastic schools.  

The sales statistics contained in the Paragon, San Diego counties MLS, demonstrate just how hot Encinitas is right now.  Currently there are 111 ACTIVE listings in Encinitas.  The median days on market is 35 days with a median List Price of $1,389,000 (the average is $1,652,000) and a median list price per square foot of $439.83. There are currently 98 Pending listings.  The median list price for the pending listings is $825,000 (average is $1,080,000) with an average days on market of only 22 days!  The ones that are selling are moving there relatively quickly.  And with a pool of 90 pending listings that is a large pool with which to pull the median. The median price per square foot of the pending listings is $425.  Since January 1st of this year 94 properties have sold in Encinitas with a median days on market of only 16 days!!! Keep in mind that these numbers are taking place during the traditionally slow time.  16 days!  The median sold price was $787,500 which is 97% of the median List Price for these same sales.  So they are selling and selling very close to the asking price.  The median sold price per square foot was $417 a square foot.  So if you look closely you will notice that according to the Active and Pending sales the price per square foot in Encinitas is creeping upward ($439 for Active Listings and $425 for pending listings).  Like all of North County Encinitas also has a significant amount of new home construction.  From Shea Homes’ 1 channel islands (Grand opening was March 11) to City Ventures’ new 12 home community called Main House to Brookfield Residential’s 23 new home development called Seaside Ridge to Shea Homes’ Beach House at Coral Cove to Lennar’s Fiore development.  The new developments in Encinitas tend to be a little smaller due to the lack of large tracts of land.  However, the smallness of the developments is made up by the sheer number of new developments.  

If you live in Encinitas and have been thinking of selling your home, now is the time! 

Michael Gaddis, J.D. of Michael Gaddis, J.D. Realty Group is an Encinitas real estate expert.  In addition to being a real estate broker, Michael Gaddis, J.D. is also a licensed CA attorney and NMLS mortgage broker.  Michael Gaddis utilizes the his knowledge and experience in each of these 3 fields when representing his clients.  Michael Gaddis truly is a SUPER agent.  You may contact Michael Gaddis, J.D. at 760-692-5950, 760-696-1425 or by email at Michael@MichaelGaddis.com.

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