What’s the Value of My Carlsbad Home?
The Carlsbad real estate market continues to change, and the statistics for December 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.
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In December 2016 there were 138 Carlsbad homes sold (92008, 92009, 92010 and 92011), a big jump by 37% from November sales. Here’s what happened:
TOTAL HOMES SOLD
138 (up 37%), 35 DOM; Ave. Sale price $817,118 (up 4%), 96% of asking price
Detached Homes Sold
82 (up 32%); 39 DOM; Ave. Sale price $966,632 (up 6%), 96% of asking price
Attached Homes Sold
56 (up 46%); 31 DOM, Ave. Sale price $598,188 (up 2%), 97% of asking price
The overall number of Carlsbad home sales in December increased significantly from November levels. Compared to the same period in 2015 detached home sales were down by 19%, while attached sales dropped by 8%. Average prices, however, rose by 7% for detached homes and by 16% for attached homes from December 2015.
21% of the transactions were cash buyers (compared to 22% last month)
Average time on market (DOM) increased by a few days for detached but declined for attached homes.
Average sales prices increased modestly for both detached and attached homes from November levels.
Buyers, on average, are getting their homes for 3 - 4% off the asking price; 25 homes (18%) sold at and above the list price
The median sales price for detached homes was $853,125 (up 2% from last month), and $526,250 for attached (up 3%)
There were 13 properties (6% of the total) in Carlsbad at the end of December with the CONTINGENT status, down by 2 from 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 230 Carlsbad homes for sale at the end of December, a decline by 22%, the 5th consecutive decrease, although not surprising given the holiday season. This represents an inventory of 1.3 months for attached homes (down from 1.7 months last month) and 1.6 months for detached (down from 2.1 months 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 very strong sellers’ market.
In December 92 new listings came on the market (37% fewer than in November). The number of homes going pending in December (excluding those homes that closed), 92, also decreased substantially, by 56%, 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.