Carlsbad Real Estate News and Views: What’s My Carlsbad Home Worth? Home Sales for June 2020 - BIG Surprise

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What’s My Carlsbad Home Worth? Home Sales for June 2020 - BIG Surprise

What’s the Value of My Carlsbad Home?

A Big Surprise for Carlsbad Home Sales in June 2020

 

Search for Carlsbad homesThe Carlsbad real estate market continues to change, with some significant 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 reflect our 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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Carlsbad Village by the Sea

 

189 homes sold in Carlsbad in June (92008, 92009, 92010 and 92011), more than double the number of sales in May, and more sales we have seen in 1 month in over 2 years! Here’s what happened:

 

Detached Homes Sold

123 (up 250%); 25 Days on Market, Average Sales price was $1,143,295 (down 4%), Average sales price was 98% of original asking price

 

Attached Homes (condos, town homes, twin homes) Sold

66 (up 213%); 41 Days on Market, Average Sales price was $629,434 (no change), Average sales price was 98% of original asking price

 

Overall Carlsbad home sales in June increased dramatically from May, with more than twice as many detached and attached sales despite the pandemic. The average sales price was modestly lower for detached single family homes but did not shift for attached properties. Sales prices ranged from $325,000 to $2,300,000.

 

Compared to June 2019, detached home sales were up by 6%, while there were 20% more attached home sales. Similarly, the average sales price year over year was 8% higher for detached homes, and 6% higher for attached homes.

 

14% of the June transactions were cash buyers, about the same as last month.

 

The average time on market (DOM) was the same for detached homes, a little over 3 weeks, but was longer for attached homes. 38% of the homes went pending in 1 week or less - clearly many buyers made decisions and moved quickly on offers.

 

Carlsbad buyers, on average, were able to negotiate the purchase of their homes for 2% off the original asking price. However, almost half of the home buyers (43%) paid asking price or better for their homes, a good indication of the competition in the market, despite the pandemic.

 

Homes in Carlsbad

 

The median sales price for detached homes was $1,075,000, down 9% from last month, and $572,000 for attached homes, down 8%.

 

There were 12 homes in Carlsbad at the end of June with a Contingent status, versus 9 last month. Contingent homes are technically still available (in some cases they are short sales or REOs) but some of these listings may not allow more showings or accept back-up offers. All are first right of refusals.

 

There were 264 Carlsbad homes for sale at the end of June, ranging in price from $350,000 to $8,700,000, which is an 8% decrease from last month following several months of increases, but overall still very solid inventory for buyers, despite the pandemic.

 

Current inventory is about 2.7 months for attached homes (down from 2.8 months last month) but only 1.7 months for detached (down from 2.6 months last month) based on the rate of sales over the last 3 months. Carlsbad continues to be a very strong sellers’ market based on current inventory and buyer demand, even during the pandemic.

 

In June 216 new listings came on the market, about the same as last month (218), which was a huge increase from April. 198 homes went pending (excluding homes that closed), another substantial increase, by 19% from May, and the most pendings we have seen in a month in a very long time.

 

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. Then we can create a strategy to get you into a new Carlsbad home in 2020, and/or help you sell your current Carlsbad home.

 

NOTE: Be aware there are specific recommendations in place to help keep everyone safe, and some new procedures that impact the purchase and sales process in our area. I am happy to share that information with you and answer questions about what this means for buyers and sellers during the pandemic, and what to expect.

 

SEARCH FOR CARLSBAD HOMES FOR SALE

 

Read More:

What’s My Carlsbad Home Worth? Carlsbad Home Sales for May 2020

 

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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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Comment balloon 7 commentsJeff Dowler, CRS • July 09 2020 05:23AM

Comments

Good morning, Jeff Dowler, CRS I'm surprised that prices decreased.....big drops from the previous month..... but sales continue...

Posted by Barbara Todaro, Previously Affiliated with The Todaro Team (RE/MAX Executive Realty - Retired ) 3 months ago

Carlsbad home buyers and sellers are sure to value your real estate market report, Jeff.  I really like that photo of the stacked rocks on the beach!

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 3 months ago

Good morning Jeff. The true professional, like yourself, can navigate the California real estate market for buyers and sellers. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 3 months ago

Hi Jeff Dowler, CRS - still a strong market in Carlsbad.  As you say, there are local back stories to all of the numbers.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 3 months ago

Hi Barbara Todaro 

They seem to go back and forth depending on what's selling - they are up year-over-year.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (eXp Realty of California, Inc.) 3 months ago

Thanks Myrl Jeffcoat  Buyers need to be aware of what's going on in our market despite the pandemic. June was quite a busy month!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (eXp Realty of California, Inc.) 3 months ago

Hi Wayne Martin 

Thanks for the kind words. Our market feels like the more typical Spring market - buyers need to be prepared to make decisions on homes they like!

Have a great weekend.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (eXp Realty of California, Inc.) 3 months ago

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