What’s the Value of My Carlsbad Home?
Carlsbad Market Report for November 2019
The Carlsbad real estate market continues to change, with several shifts from last month and 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 benefit you so you can make informed purchase and sale decisions about Carlsbad homes for sale.
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122 homes sold in Carlsbad in November (92008, 92009, 92010 and 92011), down by 13% from October following an increase that month. Here’s what happened:
Detached Homes Sold
76 (down 10%); 36 Days on Market, Average Sale price was $1,180,401 (up 8%), Average sales price was 97% of original asking price
Attached Homes (condos, town homes, twin homes) Sold
46 (down 18%); 42 DOM, Average Sales price was $709,159 (up 9%), Average sales price was 97% of original asking price
Carlsbad home sales in November dropped from October for both detached single family homes and attached homes. The average sales price was higher for both types of housing.
Compared to November 2018, detached home sales were down by 9%, while there were 15% more attached home sales. Average prices year over year also shifted, and were down by 5% for detached homes, but higher on average by 26% for attached homes compared to November 2018.
18% of the transactions were cash buyers (versus 19% last month).
Average time on market (DOM) dropped by 2 days for detached homes but was several days longer for attached homes than last month.
Carlsbad buyers, on average, were able to negotiate the purchase of their homes for 3% off the original asking price. However, 31% of the home buyers paid asking price or better for their homes, no doubt an indication of the competition in the market.
The median sales price for detached homes was $1,143,000 (up 8%) and $617,000 for attached, up 5% from October.
There were 6 homes in Carlsbad at the end of November with a Contingent status, compared to 8 last month (i.e., some of these are homes with offers being reviewed for approval by short sale and REO lenders). Contingent homes are technically still available but some listings may not allow more showings or accept back-up offers. 4 appear to be in a “first right of refusal” stage, with 1 short sale and 1 court approval.
There were 252 Carlsbad homes for sale at the end of November, ranging in price from $330,650 to $26,950,000, which is 12% fewer than last month, another decline but not really a surprise given the start of the holiday season.
Current inventory is about 2.2 months for attached homes (down from 2.3 months last month) and 1.8 months for detached (down from 2 months last month) based on the current rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ market based on current inventory and buyer demand.
In November 114 new listings came on the market, a significant decline from 183 last month, but still about 4 new listings per day! 112 homes went pending in November (excluding homes that closed), 4% fewer than in October.
This overview of the Carlsbad real estate market is based on information provided by the MLS. I’m happy to provide more details with regard to current activity as well as for specific neighborhoods of Carlsbad that interest you.
Please contact me at (760) 840-1360 so we can discuss your housing needs, timing, lifestyle and budget, and any questions you have. Then we’ll create a strategy to get you into your new Carlsbad home in 2019, and/or help you sell your current Carlsbad home.
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If I can provide more information about homes for sale in Carlsbad and in surrounding areas, our local housing market conditions, or assist you, friends or family in a purchase or sale, please contact my mobile office or text me at (760) 840-1360, or email me at JeffDowlerSolutions@gmail.com
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