What’s the Value of my Carlsbad Home?
Carlsbad Market Report for June 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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165 homes sold in Carlsbad in June (92008, 92009, 92010 and 92011), an increase by 10% from May. Here’s what happened:
Detached Homes Sold
111 (up 19%); 33 Days on Market, Average Sale price was $1,042,089 (down 5%), Average sales price was 96% of original asking price
Attached Homes (condos, town homes, twin homes) Sold
54 (down 5%); 28 Days on Market, Average Sales price was $595,523 (down 1%), Average sales price was 97% of original asking price
Carlsbad home sales in June rose modestly from May with a decline in attached home sales but with more sales of detached single family homes. Average sales prices decreased for detached homes as well as for attached homes.
Compared to June 2018, detached home sales were down by 8%, and down 13% for attached homes. Average prices year over year also shifted, and were down by 8% for detached homes, and by 5% for attached homes for the same period.
16% of the transactions were cash buyers (versus 19% last month).
Average time on market (DOM) rose slightly for both detached and attached homes (e.g., condos, town homes) but remains around 1 month.
Carlsbad buyers, on average, were able to buy their homes for 3 - 4% off the original asking price; but at the same time 33% of the home buyers paid asking price or better for their homes.
The median sales price for detached homes was $1,019,000 (no change) and $570,000 for attached, up 6% from May.
There were 8 homes in Carlsbad at the end of June with a CONTINGENT status, versus 10 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. All 8 appear to be in a “first right of refusal” stage due to contingent offers being accepted.
There were 353 Carlsbad homes for sale at the end of June (ranging in price from $325,000 to $26,950,000), a slight increase by 1% from last month.
Current inventory is about 2.7 months for attached homes (up from 2.5 months last month) and 2.2 months for detached (down from 2.4 months last month) based on the current rate of sales over the last 3 months. Carlsbad remains a strong sellers’ market based on current inventory and buyer demand.
In June 197 new listings came on the market, 19% fewer than last month. Similarly the number of homes going pending in June (excluding homes that closed), 129, 17% fewer than in May.
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, or to help you sell your home, in 2019.
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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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