There were a number of shifts in the Carlsbad housing market in 2017, as compared to 2016. One thing that did not shift is how competitive it has been due to the low inventory and buyer demand. Here are the high-lights of the 2017 housing market for detached single family homes and attached homes (condos, twin homes, and town homes) in Carlsbad:
WHAT HAPPENED IN 2017?
1131 detached single family homes sold in 2017 (this was 15% more than in 2016 but slightly fewer, 4%, than in 2015)
693 attached homes sold in 2017 (3% fewer than in 2016 and 2% fewer than 2015)
PRICES IN 2017
Average sales prices were $1,034,367 for single family homes in 2017 (up 9% from 2016, and up 15% from 2015 sales) and $585,811 for attached (up 8% from 2016, and up 18% from 2015).
Detached single family homes sold in 2017 from $380,000 to $5,180,333, the most expensive for an oceanfront home in Terramar. Attached home sale prices ranged from $230,000 to $2.2 million for an recently-built ocean-view condo in Carlsbad Village.
HOW LONG DID IT TAKE FOR HOMES TO SELL?
The average marketing time in 2017 for detached homes was 34 days. It was only an average of 25 days for attached home sales. 34% of the detached homes, and 38% of the attached, went pending in 7 days or less.
The Median Price for a single family home in Carlsbad in 2017 was $940,000, up 9% from 2016 and 14% from 2015; for attached homes the Median Price was $532,990, up 8% over 2016 and 17% over 2015.
19% of the single family detached homes sold for cash, while 23% of the attached homes did, about the same number of cash transactions as in 2016.
Buyers are able to negotiate their sales price down, on average, by 3% for detached homes and 2% for attached. That said, there were plenty of homes sold at and above the asking price.
The overall inventory in Carlsbad right now is the lowest it has been in over 2 years, and the market continues to favor sellers in many areas of Carlsbad and in a number of price points.
If you would like more information about the Carlsbad housing market in general, or regarding specific neighborhoods or zip codes, and would like to discuss your housing wants, needs and budget, let’s set a time to talk so we can plan a buying strategy to get you into a Carlsbad house in 2018! Call me at (760) 840-1360.
If you are planning to sell your Carlsbad home, it’s time to talk about the market conditions, your home’s market value, and what needs to be done to sell it for the best possible price.