The following is a summary of market conditions from the MLS for Carlsbad for the month of July. These data do not include information from any private sales or homes sold through builders that are not in the MLS.

  • Homes for sale - 497 detached, 295 attached (down 1% from June)
  • 142 detached and 79 attached homes came on the market in July
  • 538 detached and 268 attached homes have sold in the last 6 months
  • Absorption (inventory) is 5.5 months for detached (a small decrease from June) and 6.6 months for attached homes (also a decrease)
  • Average marketing time was 62 days for attached and 60 days for detached
  • Median sales price for detached - $767,759, about the same as in June
  • Median sales price for attached - $450,500, up 1% from June

On average, homes are selling at 95% (detached) and 96% (attached) of list price, which has been consistent for a number of months.

It's important to keep in mind that data can vary from month to month, depending on what is selling, and so trends over a longer period of time are a better indicator of the viability of the market. Also, median prices reflect homes that went on the market in the last 2-3 months.

Prices for detached homes are about where they were 1 year ago, but are about 4% less than 1 year ago for attached homes. In general, then, the Carlsbad market appears to be pretty stable, and the number of sales, based on the MLS is a little ahead of the same time last year (total homes sold YTD in 2007 is 890, as compared to 882 for 2006; sales of detached homes is brisker by about 9%, but 11% fewer attached homes have sold so far this year than at the same time last year).

There are, however, many buyers that are still taking time to look without making decisions, and agents report slow activity at many open houses in recent weeks, perhaps due to the summer months.

Interestingly, despite the average marketing times, 15% of the homes that were listed in July went into escrow that same month and 3 of those actually closed

If I can provide more information about Carlsbad real estate or other local areas, please let me know (text or call me direct at 760-840-1360 or email me at JDowler@remax.net.)

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8 Comments on Carlsbad Real Estate Market Report for July 2007

Jeff, I didn't know you were with RE/MAX. Going to Vegas in March ? I am going to the TEAM Summit in Sept. so is Leigh Brown.

08/13/2007 11:02 AM by Missy Caulk Ann Arbor Realtor Ann Arbor Real Estate (Keller Williams Ann Arbor)

Hi Missy. Yep, a balloonhead. Not sue about Las Vegas. I have a CRS convention in Hawaii at the end of January that I am planning to go to so we'll see. LV is only about 5 hours so it is not a bad trip. I have not been to a RE/MAX event for several years (2004 here in SanDiego, before I moved)

Jeff

08/13/2007 01:13 PM by Jeff Dowler ~ Carlsbad Real Estate (RE/MAX Associates)

Jeff, I like the way you made this market report look more like a regular blog then the more common layout for these reports with a lot of tables and figures.  This makes it much easier to read.

08/13/2007 04:10 PM by George Souto (McCue Mortgage Co.)

George - thanks for that feedback. I actually used to include a big table but decided it was too cumbersome and hard to read. Glad this is better.

Jeff

08/13/2007 05:03 PM by Jeff Dowler ~ Carlsbad Real Estate (RE/MAX Associates)

Jeff - I like the new photo of you!  You DO look more relaxed.  Can't wait to see how relaxed you look if you really do make it to Hawaii the end of January -- maybe I can look relaxed along with you!! Your wife, Kay

08/13/2007 06:04 PM by Kay

Kay - well we'll see. And maybe you will go too?

Jeff

08/13/2007 06:24 PM by Jeff Dowler ~ Carlsbad Real Estate (RE/MAX Associates)

Jeff - Is this how you communicate with your wife now, too! I have heard of this happening once we become addicted to blogging. :) Hi Kay!

Your numbers actually look pretty good! Bet the 15% of homes were priced right.

08/13/2007 10:09 PM by Indianapolis Real Estate | Paula Henry (ReMax Excel)

Paula- Haha, I suppose it seems that way. LOL. Actually we both work at home so there is a fair amount of time. But sometimes we do find out about things through other people. I know she reads my blogs from time to time but generally doesn't comment. She just tells me to my face! (and. BTW, we have talked about Hawaii but work might be an issue).

Jeff

08/13/2007 11:54 PM by Jeff Dowler ~ Carlsbad Real Estate (RE/MAX Associates)

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Real Estate Agent: Jeff Dowler ~ Carlsbad Real Estate (RE/MAX Associates)
Jeff Dowler ~ Carlsbad Real Estate
Carlsbad, CA
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