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.
But 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).
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.
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.