Q1 2019 Market Report for Carlsbad Attached Homes
The first quarter of 2019 was busy for the Carlsbad housing market with some significant shifts from 1 year ago.
Carlsbad offers a wide variety of attached (condos, town homes, twin homes) and detached single family homes, in gated and ungated communities. For this report we will focus on market activity for attached homes.
If you are interested in what’s been happening recently in the Carlsbad housing market in 2019 overall, please read the May 2019 Market Report for Carlsbad.
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CARLSBAD ATTACHED HOME SALES
142 attached homes sold in Carlsbad in Q1 2019, an increase in sales over the same period in 2018 by 16%!
The average sales price increased by 5% from 2018 to $626,796, ranging from $270,000 for a 1/1 condo to $2,725,000 for a new single level condo less than a block from the beach; the median price rose by 1% from Q1 2018 to $542,000.
The average time on market was 42 days, up from 30 days in 2018, so homes again sold relatively quickly. 14 of the homes sold were on the market for over 100 days which raised the average marketing time, however at the same 28 homes sold in 1 week or less.
Carlsbad attached homes sold for an average of 95% of the listing price, however 24% of the attached home buyers paid full price or better for their new homes; 9 of the homes sold were new construction, most at The Preserve.
1 out of 5 attached home sales (20%) were cash transactions.
CURRENT ACTIVITY FOR CARLSBAD ATTACHED HOMES AS OF MAY 22, 2019
While inventory remains fairly low, with 139 attached homes for sale as of this report, it's still well above the inventory at this time in May 2018 (up 20%).
Current listings range in price from $325,000 for a studio condo at the La Costa Villas to $3,195,000 for an ocean-front town home in Carlsbad Village; there are 3 brand-new townhomes less than a block to the ocean range priced from $2,750,000 to $2,850,000 – the most expensive town home is now pending. More new townhomes are under construction in the Village – stay tuned for updates or give me a call at (760) 840-1360 for details.
Homes have been on the market an average of 56 days. However, 20 of them have been on the market for over 100 days, including the new builds, which raises the average marketing time.
PENDING ATTACHED HOMES IN CARLSBAD
There are 67 attached homes that are pending, priced from $289,000 to $2,950,000. These homes were on the market an average of 37 days before they went under contract.
The current market strongly favors sellers of attached homes, with about 2.9 months of inventory based on the rate of sales in the last 3 months, and current buyer demand. The good news is that attached home inventory is up 36% since the beginning of the year!
Plus there are new town homes being built in and near the Village, some of which are not in the MLS yet – please let me know if you have an interest in the new construction condos and town homes.
Or search for attached homes only (condos, town homes, twin homes) using the link at the bottom of the page.
If you would like more detailed information about the local real estate market conditions in Carlsbad, or are interested in exploring the housing options that fit your needs, lifestyle and budget, please contact me at (760) 840-1360) for a personal consultation.
If you are considering selling your Carlsbad home I’ll do a market and equity analysis for you and we can discuss the appropriate strategy to prepare your home for the market, and get it sold quickly and for top dollar.