Carlsbad Real Estate Market Report - November 2008

By
Real Estate Agent with Solutions Real Estate CA DRE #01490977

Carlsbad real estate market report

The Carlsbad real estate market continues to evolve, and the data for November show a number of changes from October. These data do not include any private sales nor manufactured housing; the numbers are derived from the MLS and are believed to be accurate but are not guaranteed.

Media reports speak in general terms, rather than local, so that information may not represent the reality of our local Carlsbad real estate market. Having data from a knowledgeable agent about the local market conditions benefits you as the buyer or seller.

In November 2008 there were 57 homes sold in Carlsbad's 4 zipcodes, as compared to 100 for October (a drop by 43%). Here's the breakdown of overall activity.

 

TOTAL HOMES

Detached

Attached

Number

57

41

16

Days on Market

79

86

59

Average $/SF

$277/SF

$289/SF

$247/SF

Average Sales Price

$616,891 (down 3%)

$721,753 (down 3%)

  $348,184 (down 12%) 

Median Sales Price

  $570,000 (down 9%) 

  $695,000 (down 5%) 

$358,500 (up 8%)

Average Sale$ / List$

96%

96%

96%

The number of sales was significantly less than in October, with a drop in the average price for both detached and attached homes, a trend we are seeing in a number of communities as we head into the holiday season.

At the end of November 2008 there were 612 Carlsbad homes for sale (382 detached and 230 attached homes), a drop in total inventory from October by 5% which is typical at this time of year. This represents an inventory of 7 months for attached homes (an increase over October at 5.3 months) and 5.3 months for detached at the current rate of sales over the last 6 months (a drop from 5.6 months as of October).  These absorption rates are actually fairly positive as compared to many other parts of the county, some of which have over 2 years of inventory.

YTD the average sold price of a detached home in Carlsbad is $777,118 (DOM = 68 days), based on 723 sales. This is a drop in the number of sales over the same period in 2007 by 15%; the average price of a detached also dropped by 9% as compared to the same time 1 year ago. This compares to an increase of 14% in detached home sales in San Diego County over 2007 sales, but a drop of 27% in average sales price for the county.

The market data for the 4 different Carlsbad zip codes vary considerably; for November, the average sales prices for detached homes were $698,613 for 92008, $829,698 for 92009 (La Costa area), $551,357 for 92010, and $855,168 for 92011 (Aviara area).

Real Estate Market Chart by Altos Research www.altosresearch.com

Please remember this is an overview for Carlsbad, and based on information provided by the MLS for homes that went under contract in the last couple of months and closed in November. More details can be provided if needed with regard to current activity as well as within the specific zip codes of Carlsbad.

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If I can provide more information about Del Mar, Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

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All content copyright © 2008 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

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