What’s the Value of My Carlsbad Home?
Carlsbad Market Report for January 2020
As we started off the new decade and new year, the Carlsbad real estate market continues to change, with some 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 do not address 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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97 homes sold in Carlsbad in January (92008, 92009, 92010 and 92011), 26% fewer than December. Here’s what happened:
Detached Homes Sold
59 (down 20%); 44 Days on Market, Average Sales price was $1,179,134 (up 7%), Average sales price was 97% of original asking price
Attached Homes (condos, town homes, twin homes) Sold
38 (down 30%); 44 DOM, Average Sales price was $593,871 (down 4%), Average sales price was 97% of original asking price
Overall Carlsbad home sales in January decreased from December, with a significant decline in detached single family homes and a bigger decrease for attached homes. The average sales price was higher for detached single family homes but lower for attached properties.
Compared to January 2019, detached home sales were down by 8%, while there were 12% fewer attached home sales. In contrast the average sales price year over year also shifted, and was 15% higher for detached homes, and 5% higher for attached homes compared to January 2019.
9% of the transactions were cash buyers.
Average time on market (DOM) was longer for both detached and attached homes compared to last month, about a month and a half.
Carlsbad buyers, on average, were able to negotiate the purchase of their homes for 3% off the original asking price. However, 29% 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 December.
The median sales price for detached homes was $1,092,450, 9% higher than in December, and $589,500 for attached, which was 4% higher.
There were 7 homes in Carlsbad at the end of January with a Contingent status, versus 6 last month. Contingent homes are technically still available but some listings may not allow more showings or accept back-up offers. 5 appear to be in a “first right of refusal” stage, with 2 short sales awaiting lender approval.
There were 212 Carlsbad homes for sale at the end of January, ranging in price from $349,000 to $26,950,000, which is 6% more than last month, and good news for buyers after months of declining inventory.
Current inventory is about 2.2 months for attached homes (up from 1.8 months last month) and 1.5 months for detached (up from 1.3 months last month) based on the current rate of sales over the last 3 months. Carlsbad continues to be a very strong sellers’ market based on current inventory and buyer demand.
In January 169 new listings came on the market, substantially more last month. 110 homes went pending in January (excluding homes that closed), also a substantial increase, by 47%, from December.
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 to 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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