Carlsbad Homes for Sale - What Happened in the Carlsbad Real Estate Market in August 2012?
The Carlsbad real estate market continues to shift, and the statistics for August show a number of changes from last month. 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 but are not guaranteed.
Media reports speak in general terms, so information may not represent the reality of our local Carlsbad real estate market, especially one that is shifting as ours is. Having data, and knowledge, about the local market conditions benefits you as a buyer or seller so you can make informed purchase and sale decisions about Carlsbad homes for sale.
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In August 2012 there were 152 Carlsbad homes sold (92008, 92009, 92010 and 92011), up 8% from July. Here’s the breakdown of overall activity.
|
|
TOTAL HOMES |
Detached |
Attached |
|
Number |
152 (up 8%) |
96 (up 3%) |
56 (up 17%) |
|
Days on Market |
57 |
59 |
53 |
|
Average Sales Price |
$599,336 (up 6%) |
$736,105 (up 8%) |
$364,875 (up 6%) |
|
Average Sales$/List$ |
98% |
98% |
98% |
The number of Carlsbad home sales in August rose over July sales. Average sales prices also increased across the board, for detached homes for the 5th month in a row. There is some negotiation going on and buyers, on average, are getting their homes for 2% off the asking price, although the Sale Price/List Price ratio ranges from 87% to 121%.
There were 140 properties (30% of the total) in Carlsbad at the end of August with the CONTINGENT status, down 9% from last month (i.e., homes with offers being reviewed for approval by short sale and REO lenders).
There were 471 Carlsbad Homes for sale at the end of August (down 8%), another decline, and the lowest inventory since early 2009! This represents an inventory of only 3 months for attached homes (down from 3.7 months in July) and 2.9 months for detached (down from 3.2 last month) based on the current rate of sales over the last 6 months. The real estate market in Carlsbad continues getting more competitive for buyers.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In August fewer new listings came on the market, with 182 new properties hitting the market, down 9% from last month, another decline but not surprising given the time of year. The number of homes going pending was also lower, at 156 (down by 6 or 4%), than July pendings.
This overview of the Carlsbad real estate market is based on information provided by the MLS. More details can be provided with regard to current activity as well as within the specific zip codes of Carlsbad.
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