What’s the Value of My Carlsbad Home?
Carlsbad Market Report for September 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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124 homes sold in Carlsbad in September (92008, 92009, 92010 and 92011), a decrease by 10% from August and the second decline in sales. Here’s what happened:
Detached Homes Sold
68 (down 19%); 32 Days on Market, Average Sale price was $1,069,060 (no change), Average sales price was 97% of original asking price
Attached Homes (condos, town homes, twin homes) Sold
56 (up 4%); 29 DOM, Average Sales price was $624,207 (down 7%), Average sales price was 98% of original asking price
Carlsbad home sales in September dropped from August for detached single family homes but went up slightly for attached homes. The average sales price did not shift for detached homes but was higher on average for attached homes.
Compared to September 2018, detached home sales were down by 4%, but there were 44% more attached home sales. Average prices year over year also shifted, and were down by 5% for both detached and attached homes compared to September 2018.
13% of the transactions were cash buyers (versus 24% last month).
Average time on market (DOM) rose slightly for detached homes but was several days less for attached homes than last month.
Carlsbad buyers, on average, were able to negotiate the purchase of their homes for 2 - 3% off the original asking price; but at the same time 31% of the home buyers paid asking price or better for their homes, no doubt an indication of the competition in the market.
The median sales price for detached homes was $970,000 (down 5%) and $566,995 for attached, down 6% from August.
There were 12 homes in Carlsbad at the end of September with a CONTINGENT status, 2 more than 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. 10 appear to be in a “first right of refusal” stage with 1 short sale and 1 probate sale.
There were 331 Carlsbad homes for sale at the end of September (ranging in price from $305,000 to $26,950,000), 10% fewer than last month.
Current inventory is about 2.4 months for attached homes (down from 2.6 months last month) and 2.3 months for detached (up from 2.2 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.
In September 187 new listings came on the market, 11% fewer than last month, but still 6 new listings per day! In contrast 137 homes went pending in September (excluding homes that closed), 20% more than in August.
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. Then we’ll create a strategy to get you into your new Carlsbad home in 2019, and/or help you sell your current Carlsbad home.
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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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