Carlsbad Market Report for December 2017

Not surprisingly with the holiday season we saw some shifts in the housing market for December in Carlsbad.

112 Carlsbad homes sold in December, down by 15% from November:

 

TOTAL HOMES SOLD – 112 (down 15%), 37 Days on Market; Average Sale price $867,097 (up 4%), Average sale price 97% of asking price

 

Detached Homes Sold – 74 (down 7%), 42 DOM; Ave. Sale price $989,918 (down 1%), Ave. sale, price 98% of asking price,

 

Attached Homes Sold – 38 (down 27%); 26 DOM, Ave. Sale price $627,918 (up 8%), Ave. sale price 97% of asking price

 

We saw a decline in both detached single family home sales and attached home sales. Average sales prices declined slightly for detached homes, but rose for attached homes.

 

When we compare December 2017 to 2016 we see that detached home sales were down by 10%, and sales were down 32% for attached homes. However, average prices year over year rose by 2% for detached homes, and increased by 5% for attached homes.

 

26% of the transactions were cash buyers (versus 20% last month).

 

The average time on market rose for both attached and detached single family homes but remains at ab out 1.5 months or less.

 

Buyers, on average, are getting their homes for 2 – 3% off the asking price; at the same time, however, 35% of the homes sold at and above the list, a strong sign of the competition.

 

The median sales price for detached homes was $898,750 (down 2% from last month), and $532,750 for attached (up 1%).

 

The inventory decreased by 36% from November, with 133 Carlsbad homes for sale at the end of December; this is not a surprise given the holiday season. This represents an inventory of only 1.1 months for attached homes (1.2 months last month) and 1 month for detached (the same as last month) based on the rate of sales over the last 3 months. The real estate market in Carlsbad remains a very strong sellers’ market.

 

In December 72 new listings came on the market, which is 29% fewer than in November. The number of homes going pending in December (excluding those homes that closed), 81, also decreased, by 26%, from last month.

 

 

 

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