Here are some of the highlights for the Carlsbad housing market for June 2016, with some shifts from what happened in May.
In June 2016 there were 150 Carlsbad homes sold, a decline by 18%, from May sales following several months of increased home sales. Here’s what happened:
TOTAL HOMES SOLD – 150 homes sold (down 18%) with an average of 32 days on the market (DOM). The average sales price was $776,067, which was down 8% from the average in May. On average Carlsbad homes sold for 97% of asking price, with about 37% of them selling at asking price or above.
Detached Homes – there were 81 single family detached homes sold (down 30% from May), with an average marketing time of 30 days. The average sales price was $983,342 (down 4%); homes sold for an average of 97% of asking price
Attached Homes – we saw 69 attached homes (this includes single story condos, twin homes and town homes) sell in June, up 1% from last month, at an average price of $532,745 (down 1%) and 33 days on market. Homes sold at 97% of asking price on average.
In comparison to the same period in 2015 Carlsbad detached home sales dropped by 42%, while attached sales dropped by only 5%.
12% of the transactions were cash buyers (versus 23% last month).
The median sales price for detached homes was $930,000 (the same as last month), and $490,000 for attached (down 5% from May)
Inventory in Carlsbad at the end of June had increased to 351 homes, up by 14%, the 6th consecutive increase. This represents an inventory of 2 months for attached homes (up from 1.9 months last month) and 2.8 months for detached (up from 2.3 months last month) based on the current rate of sales over the last 6 months. The real estate market in Carlsbad continues to be very competitive and is a strong sellers’ market.
If you’d like to know more about the housing market in Carlsbad, especially in certain neighborhoods or zip codes, or for specific price ranges, please let me know.