Carlsbad Housing Market for September 2019

Carlsbad Market Report

The Carlsbad housing market remains pretty active, with some shifts since last month, and from a year ago. You can read more about Carlsbad here – Carlsbad Village by the Sea

A total of 124 homes sold in Carlsbad in September, a decrease by 10% from August and the second decline in sales.  Here’s what happened:

Detached Homes Sold – 68 (down 19%); 32 Days on Market, Average Sale price was $1,069,060 (no change), Average sales price was 97% of original asking price

Attached Homes (condos, town homes, twin homes) Sold – 56 (up 4%); 29 DOM, Average Sales price was $624,207 (down 7%), Average sales price was 98% of original asking price

Carlsbad home sales in September dropped from August for detached single family homes but went up slightly for attached homes. The average sales price did not shift for detached homes but was higher on average for attached homes.

Looking back a year ago to September 2018 we see that detached home sales were down by 4%, but in contrast there were 44% more attached home sales. Average prices year over year also shifted, and were down by 5% for both detached and attached homes compared to September 2018.

13% of the transactions were cash buyers (versus 24% last month). We see a shift every month in terms of the number of cash buyers.

Average time on market (DOM) rose slightly for detached homes but was several days less for attached homes than last month.

On average Carlsbad buyers were able to negotiate the purchase of their homes for 2 – 3% off original asking price; however, 31% of the home buyers paid asking price or better for their homes, no doubt an indication of the competition and some multiple offers in the market.

The median sales price for detached homes was $970,000 (down 5%) and $566,995 for attached, down 6% from August.

There were 12 homes in Carlsbad at the end of September with a CONTINGENT status, 2 more than last month (i.e., some of these are homes with offers being reviewed for approval by short sale and REO lenders). 10 appear to be in a “first right of refusal” stage with 1 short sale and 1 probate sale.

There were 331 Carlsbad homes for sale at the end of September ranging in price from $305,000 to $26,950,000. This is 10% fewer than in August.

Current inventory is about 2.4 months for attached homes and 2.3 months for detached, based on the current rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ market based on current inventory and buyer demand.

In September 187 new listings came on the market, which is 11% fewer than last month, but that’s still 6 new listings per day! In contrast 137 homes went pending in September (excluding homes that closed), 20% more than in August.

This overview of the Carlsbad real estate market is based on information provided by the MLS. I’m happy to provide more details with regard to current activity as well as for specific neighborhoods of Carlsbad that interest you (e.g., Bressi Ranch, La Costa Greens, Calavera Hills, Aviara).

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