What’s the Value of My Carlsbad Home?
Carlsbad Market Report for September 2017
The Carlsbad real estate market continues to change, and the statistics for September show several shifts from last month and from 1 year ago. These data do not include private sales or manufactured/mobile/multi-family housing; the numbers are derived from the MLS and are believed to be accurate at the time they are reported but are not guaranteed.
Media reports speak in general terms, and not about the local Carlsbad housing market. Current data, and knowledge, about the local market conditions benefits you as a buyer or seller so you can make informed purchase and sale decisions about Carlsbad homes for sale.
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In September 2017 there were 136 Carlsbad homes sold (92008, 92009, 92010 and 92011), down by 12% from August. Here’s what happened:
TOTAL HOMES SOLD
136 (down 12%), 27 DOM; Ave. Sale price $842,199 (down 1%), Ave. sale price 98% of asking price
Detached Homes Sold
76 (down 18%), 32 DOM; Ave. Sale price $995,574 (down 6%), Ave. sale price 98% of asking price
Attached Homes Sold
60 (down 2%); 21 DOM, Ave. Sale price $647,925 (up 20%), Ave. sale price 98% of asking price
The overall number of Carlsbad home sales in September decreased from August levels, especially for detached single family homes. Average sales prices dropped for detached homes but increased for attached compared to last month. Compared to September 2016, detached home sales were down by 21% but higher, by 3%, for attached homes. Average prices year over year rose by 2% for detached homes, but increased by 21% for attached homes from September 2016.
17% of the transactions were cash buyers (versus 20% last month)
Average time on market (DOM) rose slightly for attached homes, and more significantly for detached homes, but remains at around 1 month or less.
Buyers, on average, are getting their homes for 2% off the asking price; however, 38% of the homes sold at and above the list price
The median sales price for detached homes was $896,500 (down 10% from last month), and $592,000 for attached (up 14%)
There were 8 properties (4% of the total) in Carlsbad at the end of September with the CONTINGENT status, compared to 5 last month (i.e., for the most part these are homes with offers being reviewed for approval by short sale and REO lenders). These homes are technically still available but some listings may not allow more showings or be accepting more offers.
There were 304 Carlsbad homes for sale at the end of September, a decrease by 16% from last month following an increase in August over July, but 21% less inventory than at the end of September 2016. This represents an inventory of 1.3 months for attached homes (down from 1.4 months last month) and 1.5 months for detached (down from 1.9 months last month) based on the current rate of sales over the last 6 months. The real estate market in Carlsbad continues to be very competitive for buyers, and remains a very strong sellers’ market.
In September 169 new listings came on the market, which is 12% fewer than in August. The number of homes going pending in September (excluding those homes that closed), 121, also decreased by 23% from last month.
This overview of the Carlsbad real estate market is based on information provided by the MLS. More details can be provided with regard to current activity as well as within the specific zip codes, and neighborhoods, of Carlsbad.
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