What’s the Value of My Carlsbad Home?
Carlsbad Homes for SaleAugust 2017
The Carlsbad real estate market continues to change, and the statistics for August 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 August 2017 there were 154 Carlsbad homes sold (92008, 92009, 92010 and 92011), down by 4 (3%) from June. Here’s what happened:
TOTAL HOMES SOLD
154 (down 3%), 23 DOM; Ave. Sale price $854,732 (down 2%), Ave. sale price 98% of asking price
Detached Homes Sold
93 (up 1%), 25 DOM; Ave. Sale price $1,061,319 (down 1%), Ave. sale price 98% of asking price
Attached Homes Sold
61 (down 8%); 20 DOM, Ave. Sale price $541,297 (down 10%), Ave. sale price 98% of asking price
The overall number of Carlsbad home sales in August decreased from July levels, but with a slight increase in detached single family home sales but a modest decrease for attached home sales. Average sales prices dropped slightly for detached homes but declined modestly for attached compared to last month. Compared to August 2016, however, both detached and attached home sales were down, by 9% for detached, and by 18% for attached. Average prices year over year rose by 12% for detached homes, but declined by 15% for attached homes from August 2016.
20% of the transactions were cash buyers (compared to 21% last month)
Average time on market (DOM) dropped slightly for detached and attached homes compared to last month and remains less than 1 month.
Buyers, on average, are getting their homes for 2% off the asking price; however, 44% of the homes sold at and above the list price
The median sales price for detached homes was $995,000 (up 1% from last month), and $520,563 for attached (down 8%)
There were 8 properties (4% of the total) in Carlsbad at the end of August 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 August, an increase by 11% from last month which had declined, but 7% less inventory than at the end of August 2016. This represents an inventory of 1.4 months for attached homes (up from 1.3 months last month) and 1.9 months for detached (up from 1.8 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 August 191 new listings came on the market, 5% fewer than in July. The number of homes going pending in August (excluding those homes that closed), 158, however, increased by 3% from last month following an increase in June.
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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