Carlsbad Housing Market Report for August 2018

Here’s what happened in the Carlsbad housing market for August 2018.

102 Single Family Detached Homes Sold (up 13%), on the market an average of 29 days. Average sales price was $1,184,387 (up 4%). Homes sold on average at 96% of asking price,

48 Attached Homes (condos, town homes, twin homes) sold (down 9%), on the market for an average of 31 days. The average sales price was $597,428 (down 9%). Homes sold for an average of 98% of asking price

Carlsbad home sales in August increased modestly from July, with more detached homes sold but fewer attached homes.

Average prices year over year rose by 13% for detached homes, and rose by 11% for attached homes compared to 1 year ago.

23% of the transactions were cash buyers, compared to 25% last month.

Buyers, on average, purchased their homes for 2 – 4% off the asking price; however, 27% of the homes sold at or above the list price (some of these were new construction).

The median sales price for detached homes was $1,050,000 (no change from last month), and $574,500 for attached, no change from July.

There were 411 Carlsbad homes for sale at the end of August, another significant increase, by 11% from last month; inventory is up 35% over 1 year ago.

Carlsbad has an inventory of 3 months for attached homes and 2.3 months for detached, based on the current rate of sales over the last 3 months. The real estate market in Carlsbad remains a strong sellers’ market.

If I can provide more details or answer any questions about the Carlsbad housing market please feel free to reach out to me at (760) 840-1360.