Carlsbad Housing Market Report for June 2019

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The Carlsbad real estate market continues to change, with shifts from last month and from June 2018. These data are derived from the MLS and do not include private sales or manufactured/mobile/multi-family housing.

A total of 165 homes sold in Carlsbad in June, 10% more than in May.  Here’s what happened:

Detached Homes Sold – 111 (up 19%); 33 Days on Market, Average Sale price was$1,042,089, down by 5%; Average sales price was 96% of original asking price

Attached Homes (condos, town homes, twin homes) Sold – 54 (down 5%); 28 Days on Market, Average Sales price was $595,523, down 1%; Average sale price was 97% of the original list price.

Overall Carlsbad home sales in June rose modestly from May, but with fewer attached home sales and more detached single family home sales. Average sales prices dropped for detached homes as well as for attached homes (keep in mind this is an average).

Detached home sales were down by 8%, and down 13% for attached homes compared to June 2018. Average prices year over year also shifted, and were down by 8% for detached homes, and by 5% for attached homes for the same period.

For June 2019 16% of the transactions were cash buyers (versus 19% last month). The average time on market (DOM) rose slightly for both detached and attached homes but remains around 1 month.

Carlsbad buyers, on average, were able to buy their homes for 3 – 4% off the original asking price; however 33% of the home buyers paid asking price or better for their new homes.

The median sales price for detached homes was $1,019,000 (no change) and $570,000 for attached, up 6% from May.

Inventory went up slightly in June, by 1%, with 353 Carlsbad homes for sale at the end of June (ranging in price from $325,000 to $26,950,000).

Current inventory is about 2.7 months for attached homes and 2.2 months for detached homes, based on the rate of sales over the last 3 months. Carlsbad remains a strong sellers’ market based on current inventory and buyer demand.

197 new listings came on the market in June, 19% fewer than last month. Similarly, the number of homes going pending in June (not counting the homes that closed), 129, was 17% lower 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.