What Happened in the Carlsbad Real Estate Market in December 2011?
The Carlsbad real estate market continues to shift, and the statistics for December show a number of changes from last month. 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 but are not guaranteed.
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Media reports speak in general terms, 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 a buyer or seller so you can make informed purchase and sale decisions.
In December 2011 there were 102 Carlsbad homes sold (92008, 92009, 92010 and 92011), a drop of 4% fro November sales. Here's the breakdown of overall activity.
|
|
TOTAL HOMES |
Detached |
Attached |
|
Number |
102 (down 4%) |
69 (up 3%) |
33 (down 15%) |
|
Days on Market |
80 |
78 |
83 |
|
Average Sales Price |
$518,503 (down 5%) |
$610,711 down 10%) |
$325,705 (down 1% |
|
Average Sales$/List$ |
96% |
97% |
96% |
The number of Carlsbad home sales declined modestly overall, but with more detached homes sold in December than in November. Overall average sale prices also declined. There is still some negotiation going on and buyers, on average are getting their homes for 3 – 4% off asking price.
There were 112 properties (18% of the total) in Carlsbad at the end of December with the CONTINGENT status, 3 more than last month (i.e., homes with offers being reviewed for approval by short sale and REO lenders).
There were 620 Carlsbad Homes for sale at the end of December, the 6th decline in inventory, by 7%, and the lowest inventory in over a year! This represents an inventory of 6.3 months for attached homes (down from 6.5 months last month) and 4.7 months for detached (up from 4.5 last month) based on the current rate of sales over the last 6 months. The real estate market in Carlsbad continues to be competitive and is getting more so. Recent changes may be due, in part, to the holidays.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In December the number of new homes coming on the market decreased again, with 141 new listings (down 23%) hitting the market. This may be due to the time of year with the holidays. The number of homes going pending rose again, by 8%, to 97, from October pendings.
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 of Carlsbad.
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READ MORE:
Carlsbad Homes for Sale – What Happened in the Carlsbad Real Estate Market in November 2011?
Carlsbad Homes for Sale | Carlsbad Real Estate Market Report for October 2011
Carlsbad Homes for Sale | Carlsbad Real Estate Market Report for September 2011
Carlsbad Homes for Sale: Carlsbad Real Estate Market Report for August 2011
Carlsbad Homes for Sale: Carlsbad Real Estate Market Report for July 2011
Carlsbad Homes for Sale | Carlsbad Real Estate Market Report for June 2011
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You are THE expert in Carlsbad for sure! Looking forward to finally meeting Aunt Daisy! Kathy
Thanks Kathy - lots of interesting changes in our market. We'll see what happens in the next couple of month, with, hopefully, some increased inventory.
Thanks SO much for your help in finding my aunt a place to rent in Palm Desert for the next few months!! I know she is very excited. I look forward to meeting up with you personally!!
Jeff
Great report. 2012 will be an interesting year for real estate, it's fun to read about other markets.
Kathy - I'm also working on the year-end report to see how things compare to a year ago, and before.
Jeff - A 4% drop in Carlsbad during the holidays is pretty impressive, I can't imagine how much it's going to go up now that they are over.
A nice report.. We have seen thing slow down in S. NH even though we have seen very little snow. The republican candidates are here .. and calling every 15 minutes! Hope you continue to see positive sign in your market.
Jeff, very nice market report for what happening in Carlsbad. Have a great 2012!
Interesting that condos were down the most. I wonder if that is just an anomaly or if it can be attributed to something particular.
Things are looking up it appears everywhere! I hope you have a great 2012. And thank you for your message to me. I will discuss with my broker. I hear she is pretty cool! (Me!) :) Have a great day.
Michelle - it will be interestsing to see what DOES happen. RIght now we could use more inventory. We keep hearing about shadow inventory - time will tell. Normally we see more homes on the market after January 1, as we did last year.
Joan - yeah, I can't wait to start getting all those automated calls. Maybe this year will be light on the white stuff. Whatever happens, hope it is a great year for you!
Thank you Michael. It has gotten busier.
Melissa - it seems that this ebbs and flows each month. More of the short sale and REO activity tends to be condos so that may be a factor.
Paula - ha ha. Wishing you a great year, too!
Jeff
Jeff - Nice report for the year end report. You are truly showing your expertise in your area. Good to see the number of days on the market isn't over 100 at least. Wishing you all the best in 2012