There were a number of shifts in the Carlsbad housing market compared to October, and 1 year ago. Here’s what happened.
Overall, 122 homes sold in Carlsbad in November, which was down by 13% from October – this is really not a surprise given the holiday season.
76 detached homes sold, down 10%; average marketing time was 36 Days; the average sales price was $1,180,401 (up 8%); the average sales price was 97% of the original asking price
46 attached home sold (down 18%); marketing time averages 42 days; average sales price was $709,159 (up 9%), and the average sales price was 97% of original asking price
In summary, Carlsbad home sales in November dropped from October for both detached single family homes and attached homes. The average sales price was higher for both detached and attached homes.
Compared to November 2018, detached home sales were up by 9%, with 15% more attached home sales. Average prices also shifted year over year, with 5% fewer sales for detached homes, but higher on average by 26% for attached homes.
In November 18% of the transactions were cash buyers, about the same as in October. Average days on market (DOM) dropped by 2 days for detached homes but was several days longer for attached homes than last month.
On average Carlsbad home buyers negotiated the purchase of their homes 3% off the original asking price. However, almost 1 out of 3 home buyers (31%) paid asking price or better for their homes, an indication of buyer competition in the market.
The median sales price for detached homes was $1,143,000 (up 8%) and $617,000 for attached, up 5% from October.
There were 252 Carlsbad homes for sale at the end of November, ranging in price from $330,650 to $26,950,000, which is 12% fewer than last month, which is really not a surprise given the holiday.
We only have about 2.2 months of inventory for attached homes and 1.8 months for detached, based on the rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ market based on current inventory and buyer demand.
In November 114 new listings came on the market, down from 183 last month, but still about 4 new listings per day! 112 homes went pending in November (excluding homes that closed), 4% fewer than in October.
Please contact me at (760) 840-1360 so we can discuss your housing needs, lifestyle and budget, and any questions you have. Then we can create a strategy to get you into your new Carlsbad home in 2019, and/or help you sell your current Carlsbad home.