Year-End 2016 Market Report for Carlsbad 92011
2016 was a relatively busy housing market, and we saw a number of shifts compared to Carlsbad home sales in 2015. Here we take a look at the market activity in 2016 for single family detached homes in the 92011 area of Carlsbad.
The 92011 zip code covers the area south of Palomar Airport Road and west of El Camino Real, including the resort residential community of Aviara, The Bay Collection, Mar Brisa, Spinnaker Hill, Vista Del Mar, Harbor Pointe, Shorepoint, Mariner’s Pointe, Seaside Estates, Cherry Tree Walk, and The Tides, to name a few of the neighborhoods. The 92011 area offers a mix of attached (condos, townhomes, twin homes) and detached single family homes in gated and ungated communities, some in close proximity to the beaches.
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SINGLE FAMILY DETACHED HOME SALES
261 single family detached homes sold in 92011 in 2016, which is 9% more than in 2015. The average sales price was $994,340 (range of $406,000 to $3,400,000; median price of $930,000, up 5% from 2015 and up 9% from the 2014 median price), which is an increase in average prices by 7% from 2015, and up 13% from 2014 average prices. The average time on the market was 33 days, versus 37 days in 2015.
Homes sold for 97% of asking price on average, with 26% of the homes selling at list price or above. 21% of the homes were cash transactions. In summary, compared to 2015, we saw a bump up in both average and median prices, more home sales, and a modest decline in the time on market.
2017 CURRENT HOUSING ACTIVITY AS OF JANUARY 18
Currently there are 29 single family detached homes for sale in the 92011 area, from $589,900 to $2,498,000. There are 18 homes that are pending, ranging in list price from $715,000 to $1,799,500; these homes have been on the market for 67 days.
The current housing market in the 92011 are favors sellers, as it has for some time, with an inventory of about 2.3 months based on the rate of sales in the last 30 days and current buyer demand.
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If you would like more detailed information about the local real estate market conditions in the 92011 area in order to understand what they mean for you as a buyer or a seller, and are interested in exploring the housing options that meet your particular needs and budget, please contact me at (760) 840-1360 for a personal consultation.