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Sales Activity: Sales activity in Encinitas remains active. There were 54 closed sales during the past month, raising the total number of closings year-to-date from 293 to 347 through August 15, 2011. The number of homes in escrow decreased by 11 ; decreasing to 99 from 110 a month ago. Of those open escrows, 23 are contingent sales, with the majority being “Short Sales”.
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Inventory levels: During the last month, the total number of homes listed for sale decreased to 275 compared to 278 a month ago. The inventory level remains right at a 6-month supply.
The Silver Lining: Encinitas’s supply / demand ratio remains healthy. This is good news for both the Buyers and Sellers. Encinitas remains one of the most stable communities in the North County area. The favorable balance of the number of new home sales and the number of homes available to purchase should provide both sellers and buyers a level of comfort in making their selling and buying decisions.
Mike has had over 31 years of real estate and banking experience. Early on in his career, he spent gaining knowledge in the Savings and Loan industry where he successfully lead several institutions through the Savings and Loan crisis of the early 90′s. Real estate experience came earlier on in Mike’s career as he managed and supervised real estate loan matters as well as REO Sales. It wasn’t until 1997 that Mike made the switch and became one of the county’s most successful real estate agents. Mike has a unique perspective and overall knowledge of the industry by having spent more than 31 years in real estate sales and real estate banking.