Carlsbad Real Estate - Carlsbad Market Report for March 2009

By
Real Estate Agent with Solutions Real Estate CA DRE #01490977

The Carlsbad real estate market continues to show some positive trends, and the statistics for March show a number of changes as compared to February 2009.

Carlsbad real estate market report

These data do not include any private sales nor manufactured/mobile housing; the numbers are derived from the MLS and are believed to be accurate but are not guaranteed. 

Media reports speak in general terms, rather than local, so that information may not represent the reality of our local Carlsbad real estate market. Having data from a knowledgeable agent about the local market conditions benefits you as the buyer or seller.

In March 2009 there were 71 homes sold in Carlsbad's 4 zipcodes, as compared to 52 for February (a 36% increase in sales). Here's the breakdown of overall activity.

 

 

TOTAL HOMES

Detached

Attached

Number

71 (up 36%)

43 (up 30%)

38 (up 47%)

Days on Market

64

59

72

Average $/SF

$272/SF

$283/SF

$255/SF

Average Sales Price

  $542,239 (down 2%) 

 $680,566 (up 4%) 

  $330,061 (down 12%)  

Median Sales Price

$519,000 (down 3%)

  $645,000 (up 10%) 

$330,150 (down 6%)

Average Sale$ / List$

 

97%

96%

97%

The number of sales was up significantly from February, by 36%; the average sales prices AND median sales prices were all up for detached homes over the averages for February 2009 but dropped for attached homes. I suspect the drop has to do with the larger number of REOs selling. The DOM also declined from February as people are waiting less time to make moves on the well priced properties, especially detached homes. 

  • 41% of the detached sales were distress sales - 23% were REOs and 19% were short sales. The average price of the distress sales that were sold was $655,861 as compared to the non-distress sales at $698,355.
  • 46% of the attached home sales were distress sales: 36% were REOs and 10% were short sales. 

Bristol Cove waterfront living in CarlsbadAt the end of March 2009 there were 607 Carlsbad homes for sale (401 detached, and 206 attached homes), and increase in inventory of 5% over February. This represents an inventory of 6.3 months for attached homes (a drop from 6.9 months for February) and 5.7 months for detached based on the current rate of sales over the last 6 months (an decrease from 8 months as of the end of February).  These absorption rates continue to be encouraging when compared to many other parts of the country, some of which have over 2 years of inventory.

In March 192 homes came on the market (up 37% from February): 128 detached and 64 attached. During the same time 123 homes went pending (84 detached, 39 attached), and increase of 17% over February's pendings, which were up 14% over January's. It should be noted that 24 (19%) of the detached homes went pending in the same month they were listed, with an average DOM of 7 days. This reflects homes that are well priced and in good condition. 

This overview of the Carlsbad real estate market is based on information provided by the MLS for homes that went under contract in the last couple of months and closed in February. More details can be provided if needed with regard to current activity as well as within the specific zip codes of Carlsbad.

READ MORE:

Carlsbad Real Estate - Market Report for February 2009

Carlsbad Real Estate - Market Report for January 2009

Carlsbad Real Estate - Market Report for December 2008

San Diego Real Estate Market - Year End Market Report for 2008

Carlsbad Real Estate - Market Report for November 2008

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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

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All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

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Rainmaker
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Susie Blackmon
Ocala, FL
Ocala, Horses, Western Wear, Horse Farms, Marketing

It appears things are looking better for you guys out in CA. We have foreclosures and ss too, but at least sellers are starting to understand that their house really isn't worth what it was worth last year... or the year before.

Apr 03, 2009 11:09 AM #1
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jeff, "The number of sales was up significantly from February, by 36%" now that is what I would like to hear a lot more of.

Apr 03, 2009 02:26 PM #2
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

This is good news. I hope the media is reporting this news.

Apr 03, 2009 10:35 PM #3
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Jeff Dowler, CRS

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