Year-End 2016 Market Report for
Attached Homes in Carlsbad
2016 was a busy year in real estate for Carlsbad and we saw some shifts compared to 2015. Carlsbad offers a wide variety of attached (condos, townhomes, twinhomes) and detached single family homes, in gated and ungated communities. For this report we will focus on what happened with attached homes (i.e., condos, town homes, and twin homes) but here’s what we saw for single family detached home sales in 2016 and beginning in 2017.
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ATTACHED HOME SALES (condos, townhomes, twin homes)
We saw 715 attached homes sell in Carlsbad during 2016, a slight increase of 1% from 2015 sale (708). The average sales price increased by 9% from 2015 to $542,779 (ranging from $200,000 for a 1/1 condo to $4,200,000 for an oceanfront townhome in Carlsbad Village; the median price rose by 6% to $495,000, and up 17% from 2014).
The average price in 2016 was up 21% over 2014 prices. Certainly the sales of many new condos at SummerHouse in Carlsbad Village, all priced in the $1M - $2M range with ocean-views, had some impact on the average prices for 2016 (some of these condos also sold in late 2015).
The average time on market was 32 days, down from 39 days in 2015, so homes sold fairly quickly as we saw with single family homes sales. These attached homes sold for an average of 97% of the listing price, but with 31% of the homes selling at or above the last asking price. 27% of the attached home sales were cash transactions.
In summary we saw slightly more attached home sales in 2016 than we did for 2015, but both average and median prices rose fairly significantly in 2016 over 2015. We saw a modest drop in the marketing time (DOM) from almost 6 weeks in 2015 to around a month in 2016, and a substantial number of cash transactions.
2017 ACTIVITY FOR CARLSBAD ATTACHED HOMES AS OF JAN. 18
Inventory is fairly low, with only 82 available attached homes for sale as of this writing, ranging in price from $345,000 for a 1 bedroom 1 bath condo to $2,995,000 for an ocean-view townhome built in 2016. There are 63 properties pending in Carlsbad priced from $232,900 to $1,988,888. The current market strongly favors sellers, with about 1.8 months of inventory 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 Carlsbad, or are interested in exploring the housing options that fit your needs and your budget, please contact me at (760) 840-1360 for a personal consultation.