Home sales in the 92008 area of Carlsbad were pretty active in the 2nd quarter of 2018, with some shifts from the same period in 2017
For this market report we look only detached single family home sales, plus current listings and pendings as of this writing.
The 92008 area of Carlsbad covers a broad area, including Carlsbad Village, Telescope Point, Olde Carlsbad and The Barrio (Olde Carlsbad, east of the Village, and The Barrio are the oldest and Carlsbad’s first neighborhoods), expensive beach-front areas in the Village along Ocean and south along Carlsbad Boulevard to the oceanfront neighborhood of Terramar, the lagoon-front Bay Cove neighborhood, a number of condo communities and residential neighborhoods close to the Agua Hedionda Lagoon, and more.
SINGLE FAMILY DETACHED HOME SALES
64 single family detached homes sold which is 3% more than in the same period in 2017, and double the number of sales in the first quarter of this year, signs of an active Spring market.
The average sales price was $1,088,460, down 15% from Q2 2017 (in part due to the sale of a home in Q2 2017 priced at over $5M that raised the average last year)
Sales prices ranged from $611,000 to $2,480,000
Marketing time averaged 38 days, compared to 39 in 2017
Homes sold for 97% of asking price on average, however 41% of the properties sold at asking price or above.
13 (20%) of the home sales were for cash.
CURRENT LISTINGS AND PENDING LISTINGS AS OF JULY 23
54 single family detached homes are for sale, ranging in price from a 3 BR 2 BA home priced from $699,000 to $749,900, to $29,950,000 for a stunning 10,000 SF oceanfront property in Terramar (on the market for 5 months and one of the more expensive homes for sale in San Diego County).
6 of the homes are new construction.
Average list price is $2,208,063 (with 10 homes listed at over $2M). The high end luxury home at $29,950,000 pulls up the average list price significantly
Homes have been on the market an average of 64 days.
21 homes are pending, priced from $759,000 to $6,995,000
Average marketing time was 28 days for the pending homes
At the current rate of sales over the last 3 months we have only 2.5 months of available inventory in the 92008 area for single family detached homes…a market that continues to favor sellers! The good news is that inventory has continued to increase, although only modestly.
If you would like more detailed information about the local real estate market conditions in the 92008 area, or are interested in exploring the housing options in your budget, please contact me at (760) 840-1360 for a personal consultation.