What’s the Value of My Carlsbad Home?
The Carlsbad real estate market continues to change, and the statistics for November show several shifts 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 at the time they are reported but are not guaranteed.
Media reports speak in general terms, and not about the local Carlsbad housing market. Current 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.
READ MORE ABOUT CARLSBAD:
In November 2016 there were 101 Carlsbad homes sold (92008, 92009, 92010 and 92011), a big drop by 35% from October sales. Here’s what happened:
TOTAL HOMES SOLD
101 (down 34%), 36 DOM; Ave. Sale price $785,419 (up 3%), 97% of asking price
Detached Homes Sold
62 (down 33%); 36 DOM; Ave. Sale price $909,675 (up 3%), 97% of asking price
Attached Homes Sold
39 (down 36%); 36 DOM, Ave. Sale price $587,444 (up 3%), 97% of asking price
The overall number of Carlsbad home sales in November decreased significantly from October levels. Compared to the same period in 2015 detached home sales were about the same (up by 1 sale), while attached sales dropped by 26%. Average prices rose by 4% for detached homes and by 6% for attached homes from November 2015.
22% of the transactions were cash buyers (compared to 16% last month)
Average time on market (DOM) increased by a few days for both detached and attached homes.
Average sales prices increased modestly for both detached and attached homes from October levels.
Buyers, on average, are getting their homes for 3% off the asking price; 27 homes (27%) sold at and above the list price
The median sales price for detached homes was $839,000 (down 1% from last month), and $510,000 for attached (no change)
There were 15 properties (5% of the total) in Carlsbad at the end of November with the CONTINGENT status, up from 10 last month (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 295 Carlsbad homes for sale at the end of November, a decline by 7%, the 4th consecutive decrease – we saw the same pattern in November 2015 but current inventory is higher than it was in November 2015. This represents an inventory of 1.7 months for attached homes (up from 1.6 months last month) and 2.1 months for detached (the same as last month) based on the current rate of sales over the last 6 months. The real estate market in Carlsbad continues to be very competitive for buyers, and remains a strong sellers’ market.
In November 144 new listings came on the market (15% fewer than in October). The number of homes going pending in November (excluding those homes that closed), 209, increased by 77%, from last month.
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.