Year-End 2017 Market Report for the 92008 Area of Carlsbad
2017 was a busy year for homes sales in the 92008 area, with some notable shifts from the same period back in 2016.
The 92008 area includes Carlsbad Village, Telescope Point, Olde Carlsbad and the historic Barrio near the Village, beachfront areas from the Village south along Carlsbad Boulevard to the oceanfront neighborhood of Terramar, the lagoon-front neighborhood of Bay Cove, several condo communities close to the Agua Hedionda Lagoon, and other neighborhoods, with a mix of attached (condos, town homes, twin homes) and detached single family homes west of El Camino Real.
In this report we will focus on single family detached home sales.
SINGLE FAMILY DETACHED HOME SALES
202 single family detached homes sold in the Carlsbad 92008 area in 2017, 10% more than in 2016.
The average sales price was $1,093,768, an increase of 13% from 2016. Prices ranged from $380,000 to $5,180,333; the median sales price was $899,900, which was up 4% compared to 2016.
Single family detached homes sold just slightly more quickly than in 2016, with an average time on the market of 40 days, versus 41 days in 2016. However, 60 of these sales were pending within 1 week or less of being listed, so listings moved off market quickly.
Homes sold for 95% of asking price on average, but with 33% of the properties selling at list price or above. 21% of the home sales were cash transactions versus 22% in 2016.
CURRENT MARKET AS OF JANUARY 21, 2017
So how is the 2018 housing market in the 92008 area shaping up?
As of this writing there are 29 single family detached homes for sale in 92008, ranging in price from $919,000 to $14,950,000 for an ocean-front custom home in the Village on Ocean Avenue. The average list price is $2,238,409; the high average is due, in part, to 2 oceanfront listings at $14,950,000 and $5,500,000 - $5,900,876. 13 homes have hit the market since the beginning of the year, with 4 others that were listed and are now pending.
The active listings have been on the market for an average of 61 days.
There are 15 homes that are in pending status, on the market for an average of 66 days, ranging from a list price of $749,000 to $7,695,000.
Based on the rate of sales in the last 3 months, the 92008 area has about 2.1 months of inventory, a market that clearly favors sellers based on the number of available homes and current buyer demand.
NEXT STEPS FOR CARLSBAD BUYERS AND SELLERS
If you would like more detailed information about the local real estate market conditions in the 92008 area, or are interested in exploring housing options that meet your needs and your budget, please contact me at (760) 840-1360 for a personal consultation so we can plan a strategy to get you into a new Carlsbad home in 2018. Check out Home Buying Tips and Advice (video series) on some important issues all buyers should be aware of.
Search for homes for sale just in the 92008 area using the link at the bottom of the page.
If selling your Carlsbad home is your plan for 2018, let’s discuss the local market conditions, the market value of your home, and how to get your home prepared for the market to maximize the sales price when the time is right for you. Visit Home Selling Tips and Advice for some important videos on selling your home.
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