Carlsbad Housing Market Report March 2017

Here’s what happened in the housing market in Carlsbad for March 2017:

There were 153 Carlsbad homes sold, an increase by 53% from February sales, averaging 37 Days on Market (DOM); homes sold for an average sale price of $866,079 (up 13%), selling on average at 97% of list price.

94 detached single family homes sold (up 71%); 40 DOM; average sales price $998,800 (up 4%), at 97% of asking price

59 attached homes sold (town homes, condos, twin homes), up 31% from February; 31 DOM, average sales price $654,624 (up 24%), 98% of asking price

Thus the overall number of Carlsbad home sales in March increased dramatically from February levels. Compared to March 2016, however, detached home sales were up by 6%, while attached sales were up by 13%. Average prices year over year rose as well, by 7% for detached homes and by 32% for attached homes as compared to March 2016.

19% of the March real estate transactions were cash buyers,compared to 18% in February.

Buyers, on average, purchased their homes for 2 – 3% off the asking price; however, 60 homes (39%) sold at and above the list price

The median sales price for detached homes was $912,000 (up 4% from last month), and $535,000 for attached (up 7%)

At the end of March there were 241 Carlsbad homes for sale, a modest increase by 7% from February’s inventory but a decline of 13% compared to the same period in 2016. This represents an inventory of 1.6 months for attached homes and 2 months for detached based on the current rate of sales over the last 6 months. The real estate market in Carlsbad continues to be very competitive for buyers, and is a very strong sellers’ market.

In March we saw 240 new listings came on the market, which was an increase of 36% over February. Similarly the number of homes going pending in March (excluding those homes that closed), 181, increased substantially, by 18%, from last month.

Do you have questions or want to know more? Why not give me a call at (760) 840-1360 if you are interested in discussing a home purchase or sale in Carlsbad or other nearby coastal communities.

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