The Carlsbad housing market was busy again in 2019, and we saw a number of shifts from the activity during 2018. Here are some of the highlights for 2019.
Overall sales volume rose by 4% in 2019, compared to 2018.
1025 detached single family homes were sold in 2019 (up 1% from 2018). Sales prices ranged from $482,000 up to $7,148,750 for a beautiful oceanfront home in Terramar south of Carlsbad Village.
646 attached homes (condos, town homes, twin homes) sold in 2019 (up 10% from 2018). Attached homes ranged in price from $270,000 to $2.88 million, for a newly-built ocean-view condo just south of Carlsbad Village less than 1 block from the beach.
The average sales price for detached singled family homes was $1,085,885 00 (down 3% from 2018), and $624,511 for attached homes (up 1% from 2018).
Median sales prices were up in 2019 from 2018. The median sales price of a detached home for 2019 was $1,020,000, 2% higher than last year; the median for attached homes was $569,000, 3% higher than in 2018.
Homes sold fairly quickly in 2019 on average. The average marketing time for detached homes was 34 days (32 days in 2018), and 36 days for attached home sales (30 in 2018). 27% of the detached single family homes, and 24% of the attached homes, went pending in 7 days or less, so buyers were making decisions fairly quickly.
About 4% of the homes sold in 2019 were new construction in communities like The Preserve and Robertson Ranch, the same as in 2018. Keep in mind that not all new home listings and sales are reported by the builders in the MLS so it’s likely more newly-built homes were sold.
18% of the single family detached homes sold for cash in 2019, compared to 22% last year. 24% of the attached homes were cash sales, the same as in 2018.
On average home buyers negotiated 3% off the original list price for their homes in 2019. At the same time, however, plenty of Carlsbad home buyers paid asking price or better for their homes; at the low end 12% did so in January of 2019, and at the high end 37% did in July. This is a good indication of the competitive market and multiple offers likely received on many of these homes resulting in over-asking sales prices.
Inventory in Carlsbad started out low in January, at 2.5 months for detached homes and 3.4 for attached. We saw some shifts from month to month but at year-end the inventory was lower than where it started, at 1.3 months for detached homes and 1.8 months for attached homes.
If you would like more information about the Carlsbad housing market or regarding specific neighborhoods or zip codes, and would like to discuss your housing wants, needs, lifestyle, and budget, let’s set a time to talk so we can plan a buying strategy to get you into a Carlsbad house in 2020! Call me at (760) 840-1360 so we can get started.
If you are considering selling your home in 2020 we should talk about your needs, timing and plans, discuss the market and equity value of your home, and create a strategy to get it sold quickly and at the best possible price.
BUYER AND SELLER RESOURCES
If you are interested in buying or selling a home in Carlsbad, or in nearby communities, in 2020, here are some resources for you:
Home Buying Tips and Advice (playlist of 23 short videos on my YouTube Channel)
Home Selling Tips and Advice (playlist of 21 short videos)
Relocation Tips and Advice (a series of 19 short videos)
2020 Winter Home Buyer Guide (free download)
2020 Winter Home Seller Guide (free download)