2019 Year-End Market Report for Carlsbad CA
Here’s a summary of the housing market for Carlsbad for 2019 as compared to 2018. The housing market experienced some interesting but not surprising shifts in sales volume and average price.
As a potential buyer or seller, it’s important to know what’s been happening in order to understand current market conditions and what you might expect in the approaching spring market.
2019 Year-End Housing Market for Carlsbad
Overall sales volume was 4% higher in 2019 compared to 2018, but 13% below 2017.
1025 detached single family homes were sold in 2019 (up 1% from 2018 but 15% fewer sales than in 2017).
646 attached homes (condos, town homes, twin homes) sold in 2019 (up 10% from 2018 but 11% fewer sales than in 2017).
The average sales price shifted modestly from 2018. The average sales price detached singled family homes for 2019 was $1,085,885 00 (down 3% from 2018 but 5% higher than in 2017) and $624,511 for attached homes (up 1% from 2018 and 7% higher than in 2017).
The median price of a detached home for 2019 was $1,020,000, 2% higher than last year (and 9% higher than 2017); the median was 3% higher for attached homes at $569,000 (and 7% above the 2017 median).
Sales prices for detached single family homes sold in 2019 ranged from $482,000 up to $7,148,750 for a beautiful oceanfront home in Terramar.
Attached homes (i.e., townhomes, twin homes and condos) ranged in selling price from $270,000 to $2.88 million; the most expensive was a newly-built ocean-view condo just south of Carlsbad Village less than a block from the beach.
The average marketing time in 2019 for detached homes was 34 days (about the same as in 2018 at 32 days), and 36 days for attached home sales (compared to 30 in 2018).
Did homes seller quickly? Yes - 27% of the detached single family homes, and 24% of the attached homes, went pending in 7 days or less.
Approximately 4% of the homes sold (reported in the MLS) in 2019 were new construction in communities including The Preserve and Robertson Ranch, the same percentage as in 2018. Not all new home listings and sales are reported by the builders in the MLS so it’s likely more new construction was sold.
18% of the single family detached homes sold for cash in 2019, compared to 22% last year. 24% of the attached homes were cash sales, the same as in 2018.
On average home buyers negotiated 3% off the original list price for their homes in 2019, as they did in 2018. At the same time, however, plenty of Carlsbad home buyers paid asking price or better for their homes each month; at the low end, 12% did so in January of 2019 but 37% did in July, indicative of the continued competition from buyers.
The inventory in Carlsbad started out low in January, at 2.5 months for detached homes and 3.4 for attached. We saw some shifts from month to month but at year-end during the holidays the inventory was lower than where it started, at 1.3 months for detached homes and 1.8 months for attached.
Expectations are that limited inventory will remain an issue in 2020 but I would anticipate some improvement over the next several months as we typically do.
If you would like more information about the Carlsbad housing market in general, or in specific neighborhoods or zip codes, and would like to discuss your housing wants, needs, lifestyle, and budget, let’s set a time to talk and then plan a buying strategy to get you into a Carlsbad house in 2020! Call me at (760) 840-1360 so we can get started.
If you are planning to sell your Carlsbad home, it’s time to talk about the local market conditions and how they affect your sale, your home’s market value, and what needs to be done to sell it for the best possible price in 2020.
BUYER AND SELLER RESOURCES
If you are interested in buying or selling a home in Carlsbad, or in nearby communities, in 2020, here are a few resources you may find useful:
Home Buying Tips and Advice - playlist of 23 short (1 to 2 minute) videos on my YouTube Channel
Home Selling Tips and Advice - playlist of 21 short videos
Relocation Tips and Advice - a series of 19 short videos
2020 Winter Home Buyer Guide - free download
2020 Winter Home Seller Guide - free download
You can search the complete inventory of homes for sale in Carlsbad using the link below. Or contact me to discuss your housing needs and I can provide you with a custom search of Carlsbad homes meeting your requirements.