What’s the Value of My Carlsbad Home?
Carlsbad Market Report for December 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 well-informed purchase and sale decisions about Carlsbad homes for sale.
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131 homes sold in Carlsbad in December (92008, 92009, 92010 and 92011), up by 7% from November. Here’s what happened:
Detached Homes Sold
74 (down 3%); 32 Days on Market, Average Sale price was $1,101,049 (down 7%), Average sales price was 97% of original asking price
Attached Homes (condos, town homes, twin homes) Sold
57 (up 24%); 38 DOM, Average Sales price was $615,948 (down 13%), Average sales price was 97% of original asking price
Overall Carlsbad home sales in December increased from November, with a slight decline in detached single family homes but a big increase for attached homes. The average sales price was lower for both types of homes.
Enjoy a quick lifestyle tour of Carlsbad in this slideshow
Compared to December 2018, detached home sales were up by 30%, while there were 37% more attached home sales. The average sale price year over year also shifted, and was up by 4% for detached homes, but 1% lower for attached homes compared to December 2018.
15% of the transactions were cash buyers.
Average time on market (DOM) dropped modestly by several days for both detached and attached homes compared to last month.
Carlsbad buyers, on average, were able to negotiate the purchase of their homes for 3% off the original asking price. However, 33% of the home buyers paid asking price or better for their homes, no doubt an indication of the competition in the market and similar to what we saw in November.
The median sales price for detached homes was $1,092,450 (down 4%) and $565,000 for attached, 8% lower than in November.
There were 6 homes in Carlsbad at the end of December with a Contingent status, the same as last month (i.e., sometimes 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. 4 appear to be in a “first right of refusal” stage, with 2 short sales.
There were 199 Carlsbad homes for sale at the end of December, ranging in price from $349,000 to $26,950,000, which is 21% fewer than last month, another decline but not really a surprise given the holiday season.
Current inventory is about 1.8 months for attached homes (down from 2.2 months last month) and 1.3 months for detached homes (down from 1.8 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 and became even more competitive in December.
In December 95 new listings came on the market, a significant decline from 114 last month, but still about 3 new listings per day in a big holiday month! 75 homes went pending in December (excluding homes that closed), 33% fewer than in November but still a relatively active housing market given the holidays.
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 such as La Costa, Aviara and Bressi Ranch.
Please contact me at (760) 840-1360 so we can discuss your housing needs, timing, lifestyle and budget, and any questions you have. Then we’ll create a strategy to get you into a new Carlsbad home in 2020, and/or help you sell your current Carlsbad home this year.
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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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