Carlsbad Homes for Sale - What Happened in the Carlsbad Real Estate Market in February 2013?
The Carlsbad real estate market continues to shift, and the statistics for February show several 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 their information may not represent the truth about the 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 February 2013 there were 109 Carlsbad homes sold (92008, 92009, 92010 and 92011), an increase by 16% from January sales. Here’s the breakdown of overall activity.
|
|
TOTAL HOMES |
Detached |
Attached |
|
Number |
109 (up 16%) |
70 (up 8%) |
39 (up 34%) |
|
Days on Market |
60 |
52 |
73 |
|
Average Sales Price |
$579,796 (down 10%) |
$704,607 (down 8%) |
$355,755 (down 6%) |
|
Average Sales$/List$ |
97% |
97% |
97% |
The number of Carlsbad home sales in February rose fairly significantly from January levels; 37% of the transactions were cash buyers. At the same time, however, average sales prices shifted down modestly, and the average marketing time fell below 2 months for detached single family homes. There is some price negotiation going on and buyers, on average, are getting their homes for 3% off the asking price. The Median detached home price was $675,000 (down 2%), and $305,000 (down 18%) for attached properties.
There were 71 properties (25% of the total) in Carlsbad at the end of February with the CONTINGENT status (i.e., homes with offers being reviewed for approval by short sale and REO lenders). These homes are technically still available but some listings may not allow more showings or be accepting more offers.
There were 281 Carlsbad Homes for sale at the end of February (another decline, by 4%), the lowest inventory in more than 5 years! This represents an inventory of only 2.2 months for attached homes (down from 2.5 months in January) and 1.8 months for detached (up from 1.6 months last month) based on the current rate of sales over the last 6 months. The real estate market in Carlsbad remains competitive for buyers with low inventory, and favors sellers, especially for detached homes.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In February significantly more new listings came on the market, with 180 new properties hitting the market, 5% fewer than last month. The number of homes going pending in February rose again, from 136 to 153 (up 13%).
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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