Carlsbad Housing Market Report June 2018

175 Carlsbad homes sold in Carlsbad in June, up 28% from May!  Here’s what happened:

Detached Homes – 117 sold (up 44% from May), on the market an average of 24 days (DOM); the average sales price was $1,164,357 (up 2%), homes sold on average for 98% of asking price,

Attached Homes (condos, town homes) – 58 homes sold (up 4%); 31 DOM, average sale price was $641,782 (no change from May), and homes sold on average at 98% of asking price

The overall number of Carlsbad home sales in June increased significantly from May, primarily for detached home sales.

Average sales prices increased for detached homes but did not shift for attached homes.

Compared to June 2017, detached home sales were down by 17%, and were down 11% for attached homes.

Average prices year over year rose by 8% for detached homes, but rose by 14% for attached homes.

28% of the transactions were cash buyers (versus 21% last month)

Average time on market decreased modestly for detached homes but went up for attached properties (e.g., condos, town homes) but remains around a month of less!

Buyers, on average, purchased their homes for 2% off the asking price; however, 41% of the homes sold at or above the list price (some of these were new construction).

The median sales price for detached homes was $1,049,000 (up 8% from last month), and $548,750 for attached, down 4% from May.

There were 357 Carlsbad homes for sale at the end of June, another significant increase in inventory, by 14% from last month and some more good news for buyers; inventory was up 19% over 1 year ago.

Based on supply and demand, we have an inventory of 2.2 months for attached homes and 2.2 months for detached homes based on the current rate of sales over the  last 3 months. The real estate market in Carlsbad remains a strong sellers’ market despite the increase in listings since demand remains high.

In June 273 new listings came on the market, 15% more than in May. The number of homes going pending in June (excluding those homes that closed), 214, decreased by 5% from last month.

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 within neighborhoods of Carlsbad that interest you.

Please contact me at (760) 840-1360 so we can discuss your housing needs, and any questions you have so we can create a strategy for you to compete effectively and purchase new Carlsbad home in 2018.

And if you are considering selling your home, let’s talk about the market value and local market conditions, and discuss a plan to get your property sold.