Carlsbad Housing Market for April 2019

Here’s what happened in the Carlsbad real estate market for April 2019.

151 homes sold, an increase of 26% from March, the 4th increase in monthly sales since the holidays!

Detached Homes Sold – 98 (up 33%), on the market an average of 33 days (DOM). The average sales price was $1,110,495 (a drop of 4%), and the average sales price was 98% of the original asking price,

Attached Homes (condos, town homes, twin homes) Sold –54 (up 13%); 29 DOM, Average Sales price $588,899 (down 14%), Average sale price 98% of original asking price

Carlsbad home sales increased again in April, signs of our busy Spring market. Average sales prices decreased for both detached homes and attached homes from last month. Detached home sales were down by 16%, and down 2% for attached homes compared to April 2018. Average prices year over year were higher by 1% for detached homes, and rose by 1% for attached homes, compared to 1 year ago.

25% of the transactions were cash buyers (versus 18% last month).

On average Carlsbad buyers bought their homes for 2% off the original asking price; however, at the same time 36% of the home buyers paid asking price or better for their homes, a good indicator of competition and multiple offers.

The median sales price for detached homes was $1,035,000 (up 1%) and $572,500 for attached, up 1% from last month.

There were 351 Carlsbad homes for sale (213 detached, 138 attached) at the end of April, just a slight decrease by 1% from last month following 3 months of inventory increases. This is still significantly more inventory than one year ago and good news for buyers.

Current inventory is about 2.7 months for attached homes, and 2.6 months for detached, based on the current rate of sales over the last 3 months. Carlsbad remains a strong sellers’ market based on current inventory and buyer demand – buyers can expect competition and multiple offers on many properties.

237 new listings came on the market in April, just 3 less than last month. In contrast the number of homes going pending in April (excluding homes that closed), 140, was 5% more than last month.

Please contact me at (760) 840-1360 so we can discuss your housing needs, lifestyle and budget, and any questions you have, so we can create a strategy to get you into a new Carlsbad home in 2019.