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Carlsbad Market Report for November 2017
The Carlsbad real estate market continues to change, and the statistics for November 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 November 2017 there were 132 Carlsbad homes sold (92008, 92009, 92010 and 92011), down by 5% from October. Here’s what happened:
TOTAL HOMES SOLD
132 (down 5%), 29 DOM; Ave. Sale price $833,094 (down 10%), Ave. sale price 97% of asking price
Detached Homes Sold
80 (down 20%), 32 DOM; Ave. Sale price $996,611 (down 2%), Ave. sale, price 96% of asking price,
Attached Homes Sold
52 (up 33%); 23 DOM, Ave. Sale price $581,528 (down 7%), Ave. sale price 98% of asking price
The overall number of Carlsbad home sales in November decreased modestly from October, with a big drop in detached single family home sales but an increase in attached. Average sales prices declined for detached and attached homes compared to last month. Compared to November 2016, detached home sales were up by 19%, and up 24% for attached homes. Average prices year over year rose by 9% for detached homes, and increased by 1% for attached homes from November 2016.
20% of the transactions were cash buyers (versus 19% last month)
Average time on market (DOM) rose for attached homes but was the same for detached homes as last month, and remains at 1 month or less.
Buyers, on average, are getting their homes for 2 - 4% off the asking price; however, 30% of the homes sold at and above the list price
The median sales price for detached homes was $914,444 (down 7% from last month), and $525,500 for attached (down 4%)
There were 6 properties (3% of the total) in Carlsbad at the end of November with the CONTINGENT status, the same as last month (i.e., for the most part these are 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 203 Carlsbad homes for sale at the end of November, a decrease by 11% from last month, another decline although not a surprise given the holiday season. This represents an inventory of 1.2 months for attached homes (down from 1.4 months last month) and 1.3 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 very strong sellers’ market.
In November 102 new listings came on the market, which is 34% fewer than in October. The number of homes going pending in November (excluding those homes that closed), 110, decreased by 17% 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, and neighborhoods, of Carlsbad.