Home Sales in Encinitas: What’s Trending?

Currently, the median price of a home in Encinitas is $1.8 million. Home prices in Encinitas have risen over the past two years as a result of the shifting market. Now that the housing market is a seller’s market, what can we expect from home values in Encinitas? Take a closer look below.

The Housing Trends in Encinitas

Typically, the average house in Encinitas will not spend more than two months on the market. The average number of days on the market is a housing trend that has gone up in the last month, but it is still down since last year. 

  • The Market Update: While the market is still a seller’s market, some of the trends in Encinitas are not as fast paced as they were a year ago. Houses are still selling for asking price or above, however, as the supply is very tight. 
  • Rates aren’t Changing Drastically: Mortgage rates have risen, but only slightly. In December of 2020, the 30 Year Fixed-Rates were at 3.07%. In December 2021, the rates were at 3.10%. This change is not much of a difference, which is why the demand continues to grow for homes in Encinitas.
  • A Price Decline is Unlikely: With a small inventory and rates that are steady, real estate experts have decided that it is unlikely that the California housing market will see price declines this year. In fact, home prices are still on the rise! According to OJO labs, a research study of the housing trends in California has seen the median home price in San Diego raise more than 14% in the last year. 

Time to Sell or Buy a Home in Encinitas? You Decide 

Whether you are looking to sell your home and take advantage of the market, now may be your chance! If you are interested in purchasing or selling a home, you have the right Realtor available in Encinitas. Call for a free market evaluation today! 
To top ⬆