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