Carlsbad Homes for Sale - What Happened in the Carlsbad Real Estate Market in May 2013?

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

Carlsbad Homes for Sale - What Happened in the Carlsbad Real Estate Market in May 2013?

Carlsbad Homes for Sale and Homes for Sale in Carlsbad CaliforniaThe Carlsbad real estate market continues to shift, and the statistics for May show several changes from last month. 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 but are not guaranteed.

Media reports speak in general terms, so information may not represent the truth about the local Carlsbad real estate market, especially one that is shifting as ours is. Having 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 May 2013 there were 180 Carlsbad homes sold (92008, 92009, 92010 and 92011), up 18% from April sales. Here’s what happened: 

 

TOTAL HOMES

Detached

Attached

Number

180 (up 18%)

126 (up 24%)

54 (up 6%)

Days on Market

34

32

37

Average Sales Price

$729,791 (up 6%)

$864,075 (up 4%)

$416,463 (up 1%)

Average Sales$/List$

99%

99% (89-121%)

99% (91-123%)

The number of Carlsbad home sales in May rose fairly significantly from April levels;20% of the transactions were cash buyers. Average sales prices rose for detached homes, another increase, and for attached homes, and the average marketing time decreased again. There is some price negotiation going on and buyers, on average, are getting their homes for 1% off the asking price but with some homes selling over asking price (by as much as 23%). The Median detached home sales price was $753,750 (up 5%), and $387,500 (up 5%) for attached properties.

Carlsbad Homes for Sale and Homes for Sale in Carlsbad California

There were 51 properties (17% of the total) in Carlsbad at the end of May with the CONTINGENT status (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 301 Carlsbad Homes for sale at the end of May (up by 7%); despite the increase it is still some of the lowest inventory in more than 5 years! This represents an inventory of only 2.4 months for attached homes (down from 2.5 months in April) and 1.8 months for detached (up from 1.7 months last month) based on the current rate of sales over the last 6 months. The real estate market in Carlsbad remains very competitive for buyers, and favors sellers.

In May more new listings came on the market than in April, with 232 new properties, 2% more than last month, another increase. The number of homes going pending in May rose as well, from 196 to 204 (up 4%). 

READ MORE: How Important is Inventory when Buying or Selling? Very!!

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 of Carlsbad.

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READ MORE:

Carlsbad Homes for Sale – What Happened in the Carlsbad Real Estate Market in April 2013?

Carlsbad Homes for Sale – What Happened in the Carlsbad Real Estate Market in March 2013?

Carlsbad Homes for Sale – What Happened in the Carlsbad Real Estate Market in February 2013?

Comments (5)

William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional
Hi Jeff, This is an excellent report and Carlsbad is looks to buzzing. I sure hope this market will last at least through the end of the year.
Jun 10, 2013 12:25 PM
Barbara Hensley
RE/MAX Properties - Rockwall, TX
Homes for Sale in Rockwall County, Texas

Jeff, it is exciting news about the hot market in Carlsbad.  We are experience the same thing in Texas.

Jun 10, 2013 09:25 PM
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Jeff: That is a very hot market. And so many over list price? That bodes well for sellers who have been sitting on the fence to sell.

Jun 12, 2013 03:09 AM
Nick T Pappas
Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Hun... - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Jeff, wow those are excellent statistics especially if you are on the listing side.  Sellers in the Carlsbad CA market should be pleased.

Jun 12, 2013 07:10 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

William - things are going pretty well overall and the nventory is creeping up. Demand does not appear to be shifting although that may change well into the summer.

Barbara -good fro you!!! And thanks for stopping by

Hella - indeed. It's tough on buyers, though. And you can tell the homes that are not priced well becuase they are just sitting while many are gone in a matter of a week or two

Nick - it's such a positive change from a year ago, and years past. I think some are getting greedy, though.

Jeff

Jun 12, 2013 11:01 AM