What’s the Value of My Carlsbad Home?
The Carlsbad real estate market statistics for August show several shifts 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 at the time they are reported but are not guaranteed.
Media reports speak in general terms, and not about the local Carlsbad housing market. Current 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 2016 there were 164 Carlsbad homes sold (92008, 92009, 92010 and 92011), up 3% from July sales. Here’s what happened:
TOTAL HOMES SOLD
164 (up 3%), 29 DOM; Ave. Sale price $815,474 (up 10%), 97% of asking price
Detached Homes Sold
96 (up 3%); 26 DOM; Ave. Sale price $934,954 (down 3%), 97% of asking price
Attached Homes Sold
68 (up 3%); 34 DOM, Ave. Sale price $646,796 (up 21%), 96% of asking price
The number of Carlsbad home sales in August increased modestly from July levels across the board. Compared to the same period in 2015 detached home sales dropped by 14%, while attached sales rose by 11%. However, average prices rose 5% for detached homes and 32% for attached homes from August 2015 (this is most likely due to the sale of a $4.2M attached home in August 2016 that significantly raised the average).
27% of the transactions were cash buyers (compared to 23% last month)
Average time on market (DOM) increased modestly for both detached and attached homes
Average sales prices decreased slightly for detached homes from July but increased significantly for attached home sales with the sale of a $4.2M oceanfront townhome
Buyers, on average, are getting their homes for 2 - 3% off the asking price; 47 homes (29%) sold at and above the list price
The median sales price for detached homes was $880,000 (down 5% from last month), and $542,500 for attached (up 6%)
There were 9 properties (3% of the total) in Carlsbad at the end of August with the CONTINGENT status, the same as last month (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 358 Carlsbad homes for sale at the end of August, a decline by 8%, the first decrease following 7 consecutive increases. This represents an inventory of 1.7 months for attached homes (down from 1.9 months last month) and 2.1 months for detached (down from 2.7 months last month) based on the current rate of sales over the last 6 months. The real estate market in Carlsbad continues to be very competitive for buyers, and remains a strong sellers’ market.
In August 219 new listings came on the market (3% fewer than in July). The number of homes going pending in August (excluding those homes that closed), 173, increased, by 2%, from last month.
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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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