Carlsbad Real Estate Market Report - January 2009

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

Carlsbad Area Real Estate Market Report - Jeff Dowler

The Carlsbad real estate market continues to evolve, and the statistics for January show a number of changes since December of 2008. 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 January 2009 there were 57 homes sold in Carlsbad's 4 zipcodes, as compared to 85 for December (a 33% decrease in sales). Here's the breakdown of overall activity. 

 

TOTAL HOMES

Detached

Attached

Number

57 (down 33%

38

19

Days on Market

83

90

70

Average $/SF

$253/SF

$266/SF

$229/SF

Average Sales Price

$548,387 (down 3%)

$642,253(down 10%)

$360,655 (down 6%)

Median Sales Price

 $520,000 (down 4%) 

 $570,950 (down 17%) 

  $343,500 (down 4%) 

Average Sale$ / List$

95%

95%

97%

Sunset in Carlsbad - Jeff DowlerThe number of sales was dramatically less than in December. This is not surprising given that with the holidays sales activity would be expected to decline; the homes that went under contract in December are the ones showing as closed deals in January. 

At the end of January 2009 there were 563 Carlsbad homes for sale (366 detached, priced from $239K up to $10.8 million, and 197 attached homes, priced from $130K to $3.5 million), an increase of 8% in total inventory from December. This represents an inventory of 5.9 months for attached homes (a decrease from December) and 6.2 months for detached based on the current rate of sales over the last 6 months (a small increase from 5.9 months as of the end of December).  These absorption rates continue to be encouraging when compared to many other parts of the country, some of which have over 2 years of inventory. 

In January 175 homes came on the market: 122 detached and 53 attached. At this same time 92 homes went pending (53 detached, 39 attached) as compared to 62 going pending in December). 

The market data for the 4 different Carlsbad zip codes vary considerably; for January, the average sales prices for detached homes were $432,025 for 92008, $723,113 for 92009 (La Costa area), $422,591 for 92010, and $678,085 for 92011 (Aviara area). 

This overview of the Carlsbad real estate market is based on information provided by the MLS for homes that went under contract in the last couple of months and closed in December. 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 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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Rainmaker
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Robert Hammerstein
Keller Williams Valley Realty - Hillsdale, NJ
Bergen County NJ Real Estate

Jeff -  Terrific job! These numbers can be scary but as you said it was the holidays so it should improve.  Springtime is here after all. Bob H

Feb 02, 2009 02:07 AM #1
Rainmaker
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Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Jeff excellent work putting together your report for the Carlsbad market. I need to get cracking with mine!

Feb 02, 2009 02:11 AM #2
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jeff, I see that the number of sales in January declined from the previous month December, but how did this January compare with January of 2008.

Feb 02, 2009 10:56 AM #3
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Bob - righto. I am encouraged by the number of calls and the buyer activiuty I see.

Thanks, Bill. More to do here myself.

George - good questions. Inventory is down 22% from 1 year ago. Average price for detached homes is 8% lower (MDN is -15%); For attached homes average price is 17% lower, with a drop of 12% for the median. Compared to many areas, not bad at all. And sales are up.

Jeff

Feb 02, 2009 02:50 PM #4
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