Housing Sales and Prices in the Carlsbad Area, Comparing Q1Q2 2011 to Q1Q2 2012

By
Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

Housing Sales and Prices in the Carlsbad Area, Comparing Q1Q2 2011 to Q1Q2 2012

 

There’s been lots of talk about housing prices and where the market is headed in different areas, and on a national basis.

 

Housing Market Infographic from N.A.R. via Keeping Current MattersBut as we all know, real estate is local (the media seems to still asleep on that one).

 

While monthly market reports for Carlsbad and other nearby communities are useful, a broader look to see what had happened with housing sales and prices in the Carlsbad area, comparing Q1Q2 2011 to Q1Q2 2012, is useful information for buyers and sellers.

 

Consumers often look at housing market headlines and make assumptions about what is going on locally, and the data, when examined, often show how wrong such a generalization can be.

 

Recent national reports indicated that prices on average, have risen in 2012 compared to 2011, and that there is an overall balanced market with around 6 months of inventory thus far in 2012 (see graph BELOW from Keeping Matters Current - permission to reproduce).

 

 

National Inventory Levels (absorption) from Keeping Current Matters

 

Trends can vary when you look more closely at the regional and community level.

 

Here is a summary of the housing sales, average prices and absoprtion rates (inventory) in Carlsbad and other nearby North San Diego County communities, compiled from date on the San Diego MLS.

 

Carlsbad Area Market Report - Price, Sales and Absorption (Inventory)

 

As you can see, in almost all of these communities housing sales volume rose, in some cases substantially, in the first half of the year compared to the same time in 2011. Cardiff, with the lowest sales volume of the 10 communities, was the exception. This trend in increased volume from 2011 to 2012 is consistent with many reports we are seeing, and was true for San Diego County, too.

 

The other trend, housing prices, was a bit more mixed, but in general we have seen prices creep up, on average, during the first half of 2012 compared to last year. The biggest jump in Encinitas appears to be due, in part, to the sale of 3 oceanfront homes in early 2012 over $3M which contributed to the higher overall average compared to 2011.

 

Stay tuned for more details on our local housing market in and around Carlsbad – absorption rates, trends, and new homes for sale.

Comments (7)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jeff I am not really surprised that sales are up in most of the towns around you, but I am surprised that the sales price is up in most of them as well.

Sep 01, 2012 06:51 AM
Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Jeff, very clear market report, some are hard to understand... but not this one! It would seem that you are no longer in a buyers market, if you use the absorbtion rate to go by. (Carlsbad that is) But overall in San Diego county you are. It is so hyper local.. isn't it.

And as I look at your profile photo I can't help but think about you smoking salmon....

Sep 01, 2012 01:29 PM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL
Jeff, looking at the graph and the dwindling number of buyer's markets, along with the rise in prices and it is clear that the Carlsbad area is in a real estate market recovery. Sharon
Sep 01, 2012 01:54 PM
William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional
Hi Jeff, This is a terrific market report. The first of the year comparison was interesting. We seem to be making progress but perhaps not as fast as some would like. I can't help but to believe that after the election, we will see some greater progress in market improvement.
Sep 01, 2012 02:00 PM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

hi jeff, there is no doubt that you are in a sellers market and the inventories have decreased dramatically...very jealous of this scenario...great share.

Sep 01, 2012 09:18 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

George - I was a little surprised in a couple of cases as well

Andrea - I should have taken a photo, shouldn't I.? LOL. ONly a few more weeks for my summer photo then it['s time to retire it til next year. Oh, and thanks for the compliment on the report - it was interesting and informative to put together.

Frank and Sharon - it sure feels that way. It's really all over the place

William - I don't think we can expect to see rapid progress and I'm glad to see it happening as it is. It has certainly gotten busier. Wish there were more inventory, though.

Ginny - the trend has been interesting to watch. You get a different persepctrive when you look long term than just month to month.

Jeff

Sep 02, 2012 12:48 AM
Jack Mossman - The Nines Team at Keller Williams in Lodi
The Nines Team at Keller Williams in Lodi - Lodi, CA
The Nines Team in Lodi

Jeff - we have similar trends in the Central Valley ... but another trend that is worrisome is the increasing numbers of foreclosed homes that have not moved onto the market.  It just feels a little shaky!

Sep 02, 2012 09:35 AM