Carlsbad Market Report - Year End 2007

By
Real Estate Agent with Solutions Real Estate CA DRE #01490977
Oceanfront homes in CarlsbadHere is the year-end market report for Carlsbad homes from the MLS (homes sold privately are not include in these data): 
  • Homes for sale439 detached, 217 attached (down 15% from November)
  • 75 detached and 30 attached homes came on the market in November (58% less)
  • 359 detached and 144 attached homes have sold in the last 6 months
  • Absorption (inventory) is 7.5 months for detached (slight increase from November) and 7.1 months for attached homes (down over 1 month from November)
  • Average marketing time was 65 days for attached and 67 days for detached
  • Median sales price for detached - $763,050, about the same as November
  • Median sales price for attached - $439,438, about the same as November

Carlsbad home sales prices continue to average 95% (detached) and 96% (attached) of list price, a trend for at least 10 months.

It is worth noting that the inventory for Carlsbad for December dropped about 15% as compared to November. This is not unexpected given the holiday season. Inventory should start increasing as we leave the holiday period.

All in all, the changes in the Carlsbad housing market were minimal as compared to last month, and compared to 1 year ago the statistics are fairly positive. The median detached home price is only about 1% lower than 1 year ago; the median attached home price is about 5% less than 1 year ago.

YTD sales for Carlsbad homes are 10% behind the same time last year (down only 5% for detached homes but 17% for attached), which compares pretty favorably to the statistics for San Diego County as a whole, where end of year sales are down 18% compared to the end of 2007. The data continue to show that watching the local market is particularly important, as the averages reported county-wide in the wide suggest a pattern that is less positive that what we are seeing in Carlsbad.

Do you need more information about Carlsbad real estate or other nearby communities? Please let me know (text or call me directly at 760-840-1360 or email me at JDowler@remax.net).

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Start YOUR CARLSBAD HOMES SEARCH HERE (and other area communities in San Diego including Cardiff, Solana Beach, Del Mar, Encinitas, Rancho Santa Fe, La Jolla, San Marcos and Oceanside homes)

Visit CARLSBAD COMMUNITY REPORTS for profiles on communities, subdivisions and neighborhoods

All content copyright © 2007 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

 

 

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Rainer
52,843
Jim Dunlap
Roberts Realty - Yucca Valley, CA
Glad to see the inventory rate decreasing slightly.  Hopefully this will be a long term trend for all of us.
Jan 05, 2008 03:43 PM #1
Rainmaker
551,712
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co

Hi Jeff,

Very nice report. After reading through this it's evident that Carlsbad prices have held up extremely well for San Diego County. It's such a great place, it's always one of my favorites.

Jan 05, 2008 03:53 PM #2
Rainmaker
46,093
Sarah Nopp
South Sound, WA

Wow, 7 months is more of a Balanced market than Buyer's market.

Jan 05, 2008 05:52 PM #3
Rainer
292,552
Diane Aurit
LKN Realty, LLC - Mooresville, NC
Lake Norman Real Estate
Jeff:  Good solid numbers like these bode well for 2008!
Jan 06, 2008 12:01 AM #4
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Jim - well it is not unexpected with the holidays. We'll see what happens now that they are passed.

Jeff 

        
Jan 06, 2008 02:01 AM #5
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Lynda - it has been an interesting year. Things hve been more positive in Carlsbad than a number of the other coastal communities. I hope it stays that way.

Jeff 

Jan 06, 2008 02:02 AM #6
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Sarah - agreed. This last month things have shifted in other communities as well, but I suspect it will change again now that we are moving past the holiday period.

Jeff 

Jan 06, 2008 02:04 AM #7
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Diane - I think so too. Some believe we have hit bottom, others are not sure. Time will tell.

Jeff 

Jan 06, 2008 02:50 AM #8
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