2018 Year-End Market Update for Carlsbad CA
Here’s a market summary of the housing market for Carlsbad for 2018 as compared to 2017. There were some interesting but not surprising shifts, and it’s important to know what’s been happening in order to understand current market conditions and what we can expect in the approaching spring market.
RESOURCES FOR BUYERS AND SELLERS:
If you are interested in buying or selling a home in Carlsbad, or in nearby communities, in 2019, here are some helpful websites:
Home Buying Tips and Advice (series of 23 videos on my YouTube Channel)
Home Selling Tips and Advice (series of 21 videos)
Relocation Tips and Advice (series of 19 videos)
Home Buyer Guide (free download)
Home Seller Guide (free download)
Information about My Heroes Home Advantage Program (Facebook page)
2018 HOUSING MARKET IN CARLSBAD:
Overall sales volume dropped in 2018 as it has over the last 2 years, but was still strong.
1012 detached single family homes were sold in 2018 (down 15% from 2017 and 10% fewer than in 2016).
580 attached homes (condos, town homes, twin homes) sold in 2018 (down 20% from 2017 and 21% from 2016).
Average prices continued to increase during 2018 as they did in 2017 and have been for a number of years. The average sales price for 2018 was $1,124,499 for detached single family homes (up 9% from 2017, and up 18% from 2016 sales) and $617,488 for attached homes (up 6% from 2017, and up 18% over 2016 average prices).
Prices for detached single family homes sold in 2018 ranged from $507,000 up to $11,500,000 for a gorgeous contemporary oceanfront home in the Village. Attached homes (i.e., townhomes, twin homes and condos) ranged from $217,047 to $2.8 million, the most expensive was a newly-built ocean-view condo in Carlsbad Village just steps from the beach.
The average marketing time in 2018 for detached homes was 32 days (about the same as in 2017 at 34 days), and 29 days for attached home sales (compared to 26 in 2017). 32% of the single family homes, and 35% of the attached homes, went pending in 7 days or less, so homes moved quickly in 2018.
Approximately 4% of the homes sold (those reported in the MLS) in 2018 were new construction in communities like The Preserve and Robertson Ranch (about sold out). No doubt some new construction home sales were not reported by builders in the MLS.
The Median Sales Price for a single family home in Carlsbad in 2018 was $1,000,000, up 6% from 2017 and 16% from 2016; for attached homes the Median Price was $555,000, up 4% from 2017 and 12% more than in 2016.
22% of the single family detached homes sold for cash, with 24% of the attached homes did, a little higher than in 2017.
Detached and attached homes sold, on average, at 97% of the asking price respectively. While buyers negotiated their prices on average 3% off asking price, there were plenty of Carlsbad home buyers who paid asking price or better for their homes; in one month 50% or buyers did so.
The overall inventory in Carlsbad started out low in January but increased throughout the year. While it decreased again in November and December inventory is 90% higher than a year ago. That said, we still only have 2.1 months of inventory of single family detached homes, and 2.3 months for attached…a very strong sellers market overall. Check out the December 2018 Carlsbad housing market report for recent information.
If you would like more information about the Carlsbad housing market in general, or regarding specific neighborhoods or zip codes, and would like to discuss your housing wants, needs and budget, let’s set a time to talk so we can plan a buying strategy to get you into a Carlsbad house in 2018! Call me at (760) 840-1360 so we can get started before the spring market.
If you are planning to sell your Carlsbad home, it’s time to talk about the local market conditions and how they affect your sale, your home’s market value, and what needs to be done to sell it for the best possible price.
You can search the complete Carlsbad inventory to find the right home for your lifestyle and budget, or to see what your competition is if you are planning to sell. Or call me at (760) 840-160 for customized list!
Click the photo to the right to access the most complete inventory available, updated 24/7 >>>>>>>>>>>>>.
CHECK OUT THESE USEFUL REAL ESTATE & COMMUNITY LINKS BELOW
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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Serving Carlsbad (including Aviara, La Costa & Carlsbad Village), Encinitas (including Leucadia & Olivenhain), Cardiff, Solana Beach, Del Mar, La Jolla, Rancho Santa Fe, San Marcos (including San Elijo Hills), Oceanside, Escondido, and Greater San Diego
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