Carlsbad Housing Market Report November 2017

The Carlsbad housing market continues to be active, despite the holiday season. Indeed, in December thus far we have 27 new detached single family home listings PLUS 3 that are already pending, and 14 new town home and attached condo listings, with 2 more that are pending.

So how did our Carlsbad housing market fare in November?

134 Carlsbad homes sold in our 4 zip codes (92008, 92009, 92010 and 92011), which is down by 5% from October but not a surprise given the holiday.

81 detached single family home sold (down 19% from October) at an average price of $998,505. The average time on market was only 32 days, and homes sold for 96% of asking price on average. However, 23% of the homes sold for asking price OR BETTER.

53 attached homes (town homes, twin homes, condos) sold at an average price of $581,896, on the market an average of 23 days. While homes sold for an average of 98% of the list price, 43% sold at or above asking price.

A total of 20% of the transactions were cash buyers (versus 19% in October).

There were 203 Carlsbad homes for sale at the end of November, a decrease by 11% from last month, another decline although not a surprise given the holiday season. This represents an inventory of 1.2 months for attached homes (down from 1.4 months in October) and 1.3 months for detached (the same as last month) 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 remains a very strong sellers’ market.

 

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