Carlsbad Housing Market Report for August 2019

Here’s an overview of what happened in the Carlsbad housing market in August 2019. 138 homes sold in Carlsbad in August, a decrease by 12% from July.  Here’s are some details:

Detached Homes Sold – 84 (down 14%); 27 Days on Market, Average Sale price was $1,067,789 (up 1%), Average sales price was 98% of original asking price

Attached Homes (condos, town homes, twin homes) Sold – 54 (down 7%); 36 Days on Market, Average Sales price was $671,082 (up 12%), Average sales price was 97% of original asking price

August Carlsbad home sales dropped from July which is not really a surprise given the summer. The average sales price rose just slightly for detached homes but was significantly higher on average for attached homes.

Looking back at August 2018, we see that detached home sales were down by 21%, and down 5% for attached home sales. Average prices year over year also shifted; they were down by 9% for detached homes, but up 10% on average for attached homes.

24% of the transactions were cash buyers (versus 10% last month).

The average days on market (DOM) was slightly higher for detached homes (remaining below a month) but did not change for attached homes.

On average Carlsbad buyers negotiated 2 to 3% off the original list price for their purchases; However  at the same time 34% of the home buyers paid asking price or better for their homes, no doubt an indication of the competition in the market.

The median sales price for detached homes was $1,020,000 (up 6%) and $603,495 for attached, up 8% from July.

There were 362 Carlsbad homes for sale at the end of August, ranging in price from $325,000 to $26,950,000, which is 3% more than in July.

Current inventory is about 2.6 months for attached homes and 2.2 months for detached homes 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 August 211 new listings came on the market, 5% fewer than last month – that’s still 7 new listings per day! 114 homes went pending in August (excluding homes that closed), 11% fewer than in July.

This overview of the Carlsbad real estate market is based on data provided by the MLS. I’m happy to provide more details about current activity as well as for specific neighborhoods of Carlsbad that are of interest.

If I can be of assistance, please feel free to reach out to me at (760) 840-1360 so we can discuss your housing needs, lifestyle and budget, and any questions. Then we’ll work together to create a strategy to help you buy your new Carlsbad home in 2019, or help you sell your current Carlsbad home.