Year-End 2019 Market Report for the Carlsbad 92008 Area
Detached Single Family Homes
Like 2018, 2019 was a busy year for home sales in the Carlsbad 92008 area, with some shifts from the prior year.
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. The most expensive properties are found in this area of Carlsbad due to the ocean.
Oceanfront Homes at Terramar in Carlsbad 92008
This market report focuses on single family detached home sales.
SINGLE FAMILY DETACHED HOME SALES IN 2019
194 single family detached homes sold in the Carlsbad 92008 area, the same as in 2018.
The average sales price was $1,110,684, a decrease of 12% from the 2018 average sales price (but no doubt the sale of 4 homes over $5M, with 1 at $11,500,000, raised the average for 2018 substantially). Prices for homes sold in 2019 ranged from $882,000 to $7,148,750 (an oceanfront property in Terramar); the median sales price was $999,500, an increase of 4% over 2018.
Single family detached homes sold slightly more quickly than in 2018, with an average time on the market of 38 days, versus 42 days in 2018. Fifty-six (29%) of these homes went pending within 1 week of being listed so many buyers were making quick decisions.
Homes sold for 96% of original asking price on average, however it’s worth noting that 31% of the home buyers paid full price or better for their new homes, no doubt a sign of competitive bidding in many cases. 19% of the home sales were cash transactions, slightly fewer than in 2018.
17 of the sales in 2019 were new construction. 50% of the total sales were over $1 million.
CURRENT MARKET AS OF JANUARY 26, 2020
So how is the 2020 housing market in the Carlsbad 92008 area shaping up?
As of this writing there are 26 single family detached homes for sale in 92008, 30% less inventory than at this time last year.
These homes range in price from $745,000 to $26,950,000 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 the 2 high end listings, one at $4,890,000 and one at $26,950,000.
11 homes have been listed since the beginning of the year, with 4 of these now pending.
The active listings have been on the market for an average of 94 days; however, 11 homes have been listed for over 100 days – with 2 of these for over 300 days - which raises the average significantly.
There are 12 homes that are pending (4 were listed in January). These homes have been on the market for an average of 28 days before going pending, and range in price from $749,900 to $1,575,000.
Based on the rate of sales in the last 3 months, the Carlsbad 92008 area has only 1.8 months of inventory, compared to 3.3 months at this time last year. The housing market continues to strongly favor sellers based on available supply 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 2020.
You can search the complete inventory of Carlsbad homes for sale by clicking on the photo to the right (single family detached homes as well as attached condos, town homes, and twin homes).
If you are considering selling your Carlsbad home in 2020, why not give me a call at (760) 840-1360. We can discuss the local market conditions, the market value of your home and your potential equity, and what should be done to get your home prepared for the market to maximize the sales price when the time is right for you.
