The Carlsbad real estate market continues to show some positive trends, and the statistics for August show a number of changes as compared to July 2009. These data do not include any private sales nor manufactured/mobile housing; the numbers are derived from the MLS and are believed to be accurate but are not guaranteed.
READ MORE: Carlsbad Village by the Sea
Media reports speak in general terms, rather than local, so their information may not represent the reality of our local Carlsbad real estate market. Having data, and knowledge, about the local market conditions benefits you as the buyer or seller so you can make informed purchase and sale decisions.
In August 2009 there were 121 homes sold in Carlsbad's 4 zipcodes, as compared to 126 for July (a decline of 4%). Here's the breakdown of overall activity.
|
|
TOTAL HOMES |
Detached |
Attached |
|
Number
|
121 (down 4% |
86 (up 18%) |
35 (down 34%) |
|
Days on Market
|
69 |
67 |
76 |
|
Average Sales Price
|
$625,191 (up 12%) |
$731,682 (up 4%) |
$363,528 (up 3%) |
|
Average Sale$ / List$
|
97% |
96% |
98% |
The number of sales dropped modestly for August, however this was due to a dramatic decline in attached home sales, since the number of detached home sales rose significantly by 18%. However, average sales prices rose across the board (prices for a detached home rose again following the same path as in July).
There were 111 properties in Carlsbad at the end of August with the CONTINGENT status (i.e., homes with offers being reviewed for approval by short sale and REO lenders), 3% fewer than in July, which is 21% of the total number of active homes on the market at the end of August.
While the overall inventory for August (535 homes) dropped by 9% from July, with 14% fewer detached homes on the market, there was an increase of 3% in attached homes.
This represents an inventory of 4.5 months for attached homes (no change from July) but a significant decline from 6.3 to only 4.5 months for detached homes based on the current rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
These absorption rates for the Carlsbad real estate market continue to be encouraging when compared to many other parts of the country, some of which have over 2 years of inventory.
In August the number of new homes coming on the market declined by 14% to 167 (compared to 197 last month). And during the same time 134 homes went pending, 4 more than in July.
This overview of the Carlsbad real estate market is based on information provided by the MLS for homes that went under contract in the last couple of months and closed in July. More details can be provided if needed with regard to current activity as well as within the specific zip codes of Carlsbad.
READ MORE:
Carlsbad Real Estate - Carlsbad Market Report for July 2009
Carlsbad Real Estate - Carlsbad Market Report for June 2009
Carlsbad Real Estate - Carlsbad Market Report for May 2009
Carlsbad Real Estate - Carlsbad Market Report for April 2009
Carlsbad Real Estate - Carlsbad Market Report for March 2009
Carlsbad Real Estate - Carlsbad Market Report for February 2009
Carlsbad Real Estate - Carlsbad Market Report for January 2009
Carlsbad Real Estate - Carlsbad Market Report for December 2008
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If I can provide more information about Carlsbad real estate and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search 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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Hi Jeff - Looks like there are signs of stability in the Carlsbad real estate market, eh? That's great news!
I love Carlsbad.
I used to own a timeshare there.
Thanks for the update!
Ralph Gorgoglione
Realtor / Eco-Broker Certified
John Aaroe Group, Inc.
Fascinating numbers. Your inventory is SO low! Do you feel you are in a sellers market? It is interesting how many contingent sales you have and whether those will translate to closed sales.
close to the same story here Jeff...inventory is down because sales are picking up but people are still reluctant to list their home unless they absolutely have to. Looks like pretty good DOM numbers though. Thanks for the update....and reminder that I need to do my own report for August.
Hi Jeff, With low inventor but increasing sales, and sale prices, where do go from here. I see today that the rates dropped again and there are increasing numbers of new buyers entering the market. Will that make the limited inventory worth more? Will be interesting to see as we enter the beginnings of the fall market. I am now listing poor again.