What’s the Value of My Carlsbad Home?
The Carlsbad real estate market continues to change, and the statistics for April show several shifts from last month and 1 year ago. 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.
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 April 2017 there were 177 Carlsbad homes sold (92008, 92009, 92010 and 92011), another increase, by 16%, from March sales. Here’s what happened:
TOTAL HOMES SOLD
116 (up 16%), 35 DOM; Ave. Sale price $899,140 (up 4%), 98% of asking price
Detached Homes Sold
106 (up 13%); 40 DOM; Ave. Sale price $1,107,492 (up 11%), 97% of asking price
Attached Homes Sold
71 (up 20%); 28 DOM, Ave. Sale price $588,079 (down 11%), 99% of asking price
The overall number of Carlsbad home sales in April increased from March levels, another increase, and not a surprise given the time of year. Average sales prices decreased for attached and rose modestly for detached compared to last month. Compared to April 2016, however, detached home sales were down by 4%, while attached sales were up by 11%. Average prices year over year rose, however, by 16% for detached homes and by 16% for attached homes from April 2016.
21% of the transactions were cash buyers (compared to 19% last month)
Average time on market (DOM) remained the same for detached but declined modestly for attached homes.
Buyers, on average, are getting their homes for 1 - 3% off the asking price; however, 67 homes (38%) sold at and above the list price.
The median sales price for detached homes was $990,000 (up 9% from last month), and $560,000 for attached (up 5%).
There were 6 properties (3% of the total) in Carlsbad at the end of April with the CONTINGENT status, down by 4 from 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 225 Carlsbad homes for sale at the end of April, a modest decrease by 7% from last month, but 24% less inventory than at the end of April 2016. This represents an inventory of 1.1 months for attached homes (down from 1.6 months last month) and 2 months for detached (the same as 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 very strong sellers’ market.
In April 205 new listings came on the market, 15% less than in March. In contrast the number of homes going pending in April (excluding those homes that closed), 202, increased fairly substantially, by 12%, from last month.
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, and neighborhoods, of Carlsbad.