Market Trends: Encinitas 91911, 92007, 92024 — February 2026
Key Metrics at a Glance
| Metric | Value | Trend |
|---|---|---|
| Median Sale Price (0-3 Mo) | $1,899,000 | Declining |
| Median $/SF (0-3 Mo) | $957.07 | Stable |
| 12-Mo Linear $/SF Change | -5.34% | Negative |
| Months of Inventory | 3.1 | Tight supply |
| Median Days on Market | 19 | Improving |
| SP/LP Ratio | 99.0% | Slight softening |
| Sales Volume Change (Qtr) | -42.2% | Decreasing |
| Anticipated Marketing Time | 60-90 days | Active market |
Analysis
A notable feature of the current market is the divergence between median sale price trends and price-per-square-foot trends. While the median sale price declined -15.7% quarter over quarter, the median $/SF changed by only -1.2%. This gap suggests a compositional shift in the sales mix: recent transactions may be skewing toward smaller properties or lower price tiers, pulling the overall median downward without a proportional decline in per-unit value. This pattern is common during transitional market phases when premium properties take longer to sell and entry-level homes transact more readily.
From a supply-side perspective, the market shows relatively tight conditions. With 53 active listings and 3.1 months of inventory, available supply remains below equilibrium thresholds. The sharp decline in days on market from 46 to 19 days underscores the pace at which well-priced listings are being absorbed. However, the -39.2% decline in new listing volume may be contributing to the tight supply rather than reflecting organic demand strength, and the softening in the SP/LP ratio (99.5% to 99.0%) signals that pricing power is beginning to moderate.
Taken together, the data paints a picture of a market in transition. Prices are softening—most visibly in overall median sale price—while per-square-foot values remain comparatively resilient. The 3.1-month supply and 60-90 days anticipated marketing time indicate conditions still favor sellers, but the negative linear trends (-11.02% for prices, -5.34% for $/SF over 12 months) confirm a gradual cooling. Year-over-year sales volume growth of 19.3% shows that demand fundamentals remain intact. This market is best characterized as undergoing an orderly repricing, with sellers needing to calibrate expectations to current conditions while buyers find incrementally improved negotiating positions.
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