Market Update for Q2 in 2017 for Carlsbad 92010
Condos, Town Homes & Twin Homes
Our 92010 area of Carlsbad includes the planned community of Calavera Hills, Tamarack Point, The Summit, The Foothills at Carlsbad, Spinnaker Hill, Pacific Estates, Carlsbad Meadows, Tanglewood (condos), the new community of The Preserve (new construction homes), and other neighborhoods to the west but east of El Camino Real. The 92010 area of Carlsbad offers a variety of attached (condos, townhomes, twin homes) and detached single family homes for buyers to choose from in a wide price range.
Here we look at real estate market activity for the 92010 area of Carlsbad for the second quarter of 2017 for condos, town homes, and twin homes, as reported in the MLS. The Preserve, a new planned community in northeast Carlsbad is offering new construction town homes, so Carlsbad home buyers can consider resales as well as new construction (read 6 things buyers must know about buying new construction).
Condo, Town Home and Twin Home Sales Q2 2017
56 condos, town homes and twin homes sold (up by 5% from 2016)
Average sale price was $484,984 (up 9% from the 2016 average)
Average marketing time was 16 days, with over half the homes (34 or 61%) selling in 7 days or less (average market time in the same period in 2016 was 23 days)
Current inventory of condos, town homes and twin homes, including the new construction, based on the current rate of sales this year, is now only 1.1 months in the 92010 area based on the rate of sales, so the housing market here strongly favors sellers, with plenty of competition for any homes when they hit the market and multiple offers. 13% of the sales were cash transactions, and 64% of the homes sold for asking price or better (the average sale was 100% of asking)!
Current Listings and Pendings Q2 2017
· 10 active listings, priced from $409,999 to $669,000
· 5 homes are new construction with more to come as new phases are released
· Listings have been on the market an average of 31 days
· Living space ranges from 994 SF to 1997 SF
17 condos, town homes and twin homes are pending (on the market for an average of 17 days), priced from $419,900 up to $589,000. Seven of these pending listings are brand new construction town homes in The Preserve.
If you would like more detailed information about the local real estate market conditions in the Carlsbad area, including single family detached homes and about specific neighborhoods, and/or are interested in exploring the housing options that fit your budget, please contact me at (760) 840-1360 for a personal consultation.
I would also be pleased to set up a customized search for you based on your criteria (number of bedrooms, price, size), as well as to let you know when a property that fits your criteria will be coming on the market in Carlsbad.
If you have a condo, town home of twin home you are considering selling, this could be the right time to take advantage of the low inventory and the interest rates that are good for buyers! I’m happy to meet with you to discuss your plans, the market value of your home, and plan a strategy to get it sold quickly and for the best price.
If you would like to tour any new construction homes please give me a call so you will have buyer representation beginning with your first visit. As noted in the article at the top about buying new construction, the builder sales rep represents the builder, not you! Don’t you want someone looking out for your financial and other interests?