Published October 2, 2026 in Market Update

Encinitas still has tight supply, even with rates above 7%

By Ellen Baker

Real estate, Encinitas

Supply in Encinitas is still tight. That is the one thing I want you to take away from this month's numbers. Buyers here do not have many homes to choose from, even with rates where they are.

The Real Estate Data Aggregator counted 2.9 months of supply in ZIP 92024 for the three months ending July 31, 2026. That is down 0.9 months from the same period a year before. Less supply means buyers are competing for fewer homes.

Freddie Mac put the average 30-year fixed rate at 7.28% as of October 1, 2026. Nationally, Realtor.com reported that mortgage rates topped 7% for the first time since January 2025. Higher rates have slowed other markets. In Encinitas, the numbers tell a different story.

What the numbers show for the three months ending July 31, 2026

The Real Estate Data Aggregator counted 129 homes sold in Encinitas for the three months ending July 31, 2026. That is up 9.3% from the same months of 2025. More sales and fewer homes for sale at the same time tells you demand held up.

The median sale price came in at $2,050,000, also up 9.3% from a year before, according to the Real Estate Data Aggregator. Prices did not drift down here. They moved up.

Homes are going fast, and many are going over asking

The Real Estate Data Aggregator found that 48.1% of Encinitas homes went under contract within two weeks of listing. That share is up 14.8 points from a year before. Nearly half of all listings here did not sit long.

The Real Estate Data Aggregator also found that 34.9% of homes sold above list price. That is up 12 points from the same period in 2025. That is not every home, but it is more than 1 in 3.

The Real Estate Data Aggregator put the average sale-to-list ratio at 99.5%, up 0.9 points from a year before. Sellers in Encinitas are getting very close to what they ask.

The national picture looks different

Nationally, Realtor.com reported that price cuts hit 20.8% of listings in September, the highest share since October 2022. Realtor.com also counted 1.16 million active listings across the country. That is a lot more choice for buyers in many other markets.

Encinitas is not following that pattern. New listings here fell 6.7% compared with a year before, according to the Real Estate Data Aggregator. Fewer new listings coming on means the pool stays small.

What this means if you are thinking of selling

Buyers in Encinitas are working with limited choices right now. The Real Estate Data Aggregator counted only 121 homes for sale here during the three months ending July 31, 2026. That is down 17.7% from a year before.

The median home here sat on the market just 21 days, according to the Real Estate Data Aggregator. That is 6 days shorter than the same period last year. Priced well, homes are moving.

One thing worth saying: the ZIP code number tells part of the story. Cardiff and Leucadia each have their own character and their own buyers. A home on one street can read very differently from the overall Encinitas picture. If you want to know what the numbers mean for your specific block, I am happy to look at that with you.