What’s the Value of My Carlsbad Home ?
The Carlsbad real estate market continues to change, and the statistics for January show several shifts from last month and from 1 year ago. 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 January 2017 there were 103 Carlsbad homes sold (92008, 92009, 92010 and 92011), a drop by 25% from December sales. Here’s what happened:
TOTAL HOMES SOLD
103 (down 25%), 38 DOM; Ave. Sale price $798,354 (down 2%), 97% of asking price
Detached Homes Sold
65 (down 21%); 43 DOM; Ave. Sale price $949,275 (down 3%), 97% of asking price
Attached Homes Sold
38 (down 30%); 29 DOM, Ave. Sale price $540,201 (down 10%), 97% of asking price
The overall number of Carlsbad home sales in January decreased significantly from December levels. Average sales prices decreased modestly for both detached and attached homes from December levels. Compared to January 2016, however, detached home sales were up by 5%, and attached sales were up by 27%. Average prices year over year also rose, by 6% for detached homes and by 5% for attached homes from January 2016.
16% of the transactions were cash buyers (compared to 21% last month)
Average time on market (DOM) increased by a few days for detached but declined slightly for attached homes.
Buyers, on average, are getting their homes for 3% off the asking price; however, 29 homes (28%) sold at and above the list price
The median sales price for detached homes was $860,000 (up 1% from last month), and $487,000 for attached (down 7%)
There were 11 properties (5% of the total) in Carlsbad at the end of January 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 233 Carlsbad homes for sale at the end of January, a slight increase by 1%, following 5 months of inventory decreases. This represents an inventory of 1.4 months for attached homes (up from 1.3 months last month) and 1.7 months for detached (up from 1.6 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 January 187 new listings came on the market (twice as many as in December, up 103%). The number of homes going pending in January (excluding those homes that closed), 126, also increased substantially, by 37%, from last month.
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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, and neighborhoods, of Carlsbad.
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