What’s the Value of My Carlsbad Home?
Carlsbad Housing Market Report for April 2019
The Carlsbad real estate market continues to change, with several shifts from last month and 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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152 homes sold in Carlsbad in April (92008, 92009, 92010 and 92011), up by 26% from March, the 4th increase since the holidays! Here’s what happened:
Detached Homes Sold
98 (up 33%); 33 Days on Market, Average Sale price $1,110,495 (down 4%), Average sales price 98% of original asking price,
Attached Homes (condos, town homes, twin homes) Sold
54 (up 13%); 29 DOM, Average Sales price $588,899 (down 14%), Average sale price 98% of original asking price
Carlsbad home sales in April increased from March. Average sales prices decreased for both detached homes and attached homes. Compared to April 2018, detached home sales were down by 16%, and down 2% for attached homes. Average prices year over year shifted up by 1% for detached homes, and also by 1% for attached homes compared to 1 year ago.
25% of the transactions were cash buyers (versus 18% last month)
Average time on market (DOM) did not shift for detached homes but decreased for attached homes (e.g., condos, town homes).
Carlsbad buyers, on average, were able to buy their homes for 2% off the original asking price; but at the same time 36% of the home buyers paid asking price or better for their homes.
The median sales price for detached homes was $1,035,000 (up 1%) and $572,500 for attached, up 1% from March.
There were 10 homes in Carlsbad at the end of April with a CONTINGENT status, versus 4 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. 8 of these homes are in a “first right of refusal” stage due to contingent offers being accepted, 1 is a short sale and 1 requires court approval.
There were 351 Carlsbad homes for sale (213 detached, 138 attached) at the end of April, a slight decrease by 1% from last month following 3 months of inventory increases. This is still substantially more inventory than one year ago which is good news for buyers.
Current inventory is about 2.7 months for attached homes (down from 3.1 months last month) and 2.6 months for detached (down from 3.1 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 – buyers can expect competition and multiple offers on many properties, despite the increased inventory given the strong demand.
In April 237 new listings came on the market, just 3 fewer than last month. In contrast the number of homes going pending in April (excluding homes that closed), 140, was 5% more than in March.
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, lifestyle and budget, and any questions you have, so we can create a strategy to get you into a new Carlsbad home in 2019.
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If I can provide more information about homes for sale in Carlsbad and in surrounding areas, local housing market conditions, or assist you, friends or family in a purchase or sale, please call or text me at (760) 840-1360, or email me at JeffDowlerSolutions@gmail.com
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