April 2018 Market Report for Carlsbad

The Carlsbad real estate market continues to change, with several shifts from March and from April 2017.

In April 2018 there were 160 Carlsbad homes sold (detached + condos, town homes and twin homes). That’s 43% more sales than we saw in March.

Detached Homes Sold – 106 (up 39% from March), 25 average days on market (DOM); the average sale price was $1,101,957 (down 6% from March), Average sale price was 98% of asking price,

Attached Homes Sold – 54 (up 50%); 24 DOM; Average sale price $585,474 (up 1%); Average sale price was 98% of asking price

Carlsbad home sales in April increased significantly from March levels, which had also seen a large increase from February sales (up 20%).  Average sales prices decreased modestly for detached and attached homes as compared to March.

Compared to April 2017, detached home sales dropped by 2%, and sales were down 25% for attached homes. Interestingly average prices year over year did not shift for detached or attached homes compared to April 2017.

28% of the transactions were cash buyers.

The average time on the market (Days on Market) decreased slightly for both detached homes and for attached properties (e.g., condos, town homes) and remain under 1 month.

In general home buyers were able to purchase their homes for 2% less than the asking price. That said, 47% of the homes sold at or above the list price.

The median sales price for detached homes was $987,500 (unchanged from last month), and $599,000 for attached, which was up by 13% from March.

The inventory at the end of April increased by 16% from March levels (up to 271 listings), more good news for buyers, and a strong sign of our spring market. This mean we have about 1.9 months o inventory for attached homes, and 1.6 months for detached, based on the current rate of sales over the last month. The real estate market in Carlsbad remains a very strong sellers’ market.

In April 238 new listings came on the market, 17% more than in March. The number of homes going pending in April (excluding those homes that closed), 226, also increased, by 38%, from last month.

This overview of the Carlsbad real estate market is based on information provided by the Sandicor MLS. I’m happy to provide more details with regard to current activity as well as within neighborhoods of Carlsbad that interest you. Please contact me at (760) 840-1360 so we can discuss your housing needs, budget, and any questions that you have about the housing market so we can create a strategy to get you into a new Carlsbad home.