What’s the Value of My Carlsbad Home?
Carlsbad Market Report for July 2019
The Carlsbad real estate market continues to change, with several shifts from last month and 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 benefit you so you can make informed purchase and sale decisions about Carlsbad homes for sale.
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156 homes sold in Carlsbad in July, a decrease by 5% from June. Here’s what happened:
Detached Homes Sold
98 (down 12%); 24 Days on Market, Average Sale price was $1,056,037 (up 1%), Average sales price was 99% of original asking price
Attached Homes (condos, town homes, twin homes) Sold
58 (up 7%); 36 DOM, Average Sales price was $597,630 (no change), Average sales price was 98% of original asking price
Carlsbad home sales in July dropped modestly overall from June, with a decline in single family detached home sales but with more sales of attached homes. The average sales price rose slightly for detached homes but did not shift appreciably for attached homes.
Compared to July 2018, detached home sales were down by 5%, but were up 4% for attached home sales. Average prices year over year also shifted, and were down by 8% for detached homes, and by 10% for attached homes for the same period.
10% of the transactions were cash buyers, versus 16% last month.
Average time on market (DOM) declined for detached homes but was longer for attached homes (e.g., condos, town homes) than last month.
Carlsbad buyers, on average, were able to buy their homes for 1 - 2% off the original asking price; but at the same time 37% of the home buyers paid asking price or better for their homes, a good indication of competition in the Carlsbad housing market.
The median sales price for detached homes was $958,000 (down 6%) and $556,944 for attached (down 2% from June).
There were 10 homes in Carlsbad at the end of July with a CONTINGENT status, versus 8 last month (i.e., some of these are homes with offers being reviewed for approval by short sale and REO lenders). Contingent homes are technically still available but some listings may not allow more showings or accept back-up offers. All 10 appear to be in a “first right of refusal” stage.
There were 353 Carlsbad homes for sale at the end of July (ranging in price from $330,000 to $26,950,000), the same as last month.
Current inventory is about 2.5 months for attached homes (down from 2.7 months last month) and 2.1 months for detached (down from 2.2 months last month) based on the current rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ market based on current inventory and buyer demand.
In July 222 new listings came on the market, 13% more than last month. 128 homes went pending in July (excluding homes that closed), just 1 less than in June.
This overview of the Carlsbad real estate market is based on information provided by the MLS. I’m happy to provide more details with regard to current activity as well as for specific neighborhoods of Carlsbad that interest you.
Please contact me at (760) 840-1360 so we can discuss your housing needs, lifestyle and budget, and any questions you have. Then we’ll create a strategy to get you into your new Carlsbad home in 2019.