2018 Year-End Market Report for Carlsbad 92008
Detached Single Family Homes
2018 was a busy year for homes sales in the Carlsbad 92008 area, with some shifts from the same period in 2017.
The 92008 area includes Carlsbad Village, Telescope Point, Olde Carlsbad and the historic Barrio, beachfront areas from the Village south along Carlsbad Boulevard to the oceanfront neighborhood of Terramar, the lagoon-front neighborhood of Bay Cove, several condo communities close to the Agua Hedionda Lagoon, and other neighborhoods, with a mix of attached (condos, town homes, twin homes) and detached single family homes.
This report focuses on single family detached home sales for Carlsbad 92008.
SINGLE FAMILY DETACHED HOME SALES
193 single family detached homes sold in the Carlsbad 92008 area in 2018, 13% fewer than in 2017.
The average sales price was $1,258,741, an increase of 15% from the 2017 average sales price. Prices ranged from $605,000 to $11,500,000; the median sales price was $965,000, an increase of 7% over 2017.
Single family detached homes sold just slightly more quickly than in 2017, with an average time on the market of 42 days, versus 41 days in 2017. However, 53 (27%) of these homes went pending within 1 week or less of being listed.
Homes sold for 95% of asking price on average, but with 32% of the home buyers paying full price or better. 21% of the home sales were cash transactions, the same as in 2017.
CURRENT MARKET ACTIVITY AS OF JANUARY 21, 2018
So how is the 2019 housing market in the Carlsbad 92008 area shaping up?
As of this writing there are 37 single family detached homes for sale in 92008 (ahead of the inventory at this same time last year by 28%), ranging in price from $749,000 to $29,950,000 for an ocean-front estate on Terramar Beach south of the Village. The average list price is $2,516,540; the high average is partly due to 2 oceanfront listings, one with a range price of $16,000,000 - $17,500,000 and one at $29,950,000. 9 homes were listed since the beginning of the year, plus 4 others listed after January 1 but now pending.
The active listings have been on the market for an average of 87 days (with 10 listed for over 100 days which raises the average).
There are 16 homes that are in pending status, on the market for an average of 66 days, ranging from a list price of $749,500 to $3,495,000.
Based on the rate of sales in the last 3 months, the 92008 area has about 3.3 months of inventory, a market that favors sellers based on available inventory and buyer demand.
If you would like more detailed information about the local real estate market conditions in the 92008 area, or are interested in exploring housing options that meet your needs and your budget, please contact me at (760) 840-1360 for a personal consultation so we can plan a strategy to get you into a new Carlsbad home in 2019.
If selling your Carlsbad home is your plan for 2018, let’s discuss the local market conditions, the market value of your home, and how to get your home prepared for the market to maximize the sales price when the time is right for you.