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Carlsbad Area Real Estate & Housing Update - As of May 1st

Southern California’s housing market remained geared towards buyer's in the month of April despite relatively strong demand from investors and others paying cash for homes. Prices have trended up slightly over the last couple of month, but many potential home buyers appear to still be on the sidelines and may still be waiting for a bottom in prices or a relaxing of the mortgage guidelines to allow more people to qualify for homes.

As of May 1st, the median price in Carlsbad for a single family detached home for sale was $744,900.  With inventory trending up, and days on market trending down, the real estate market action index was esentially flat and there doesn't appear to be a strong pull in either direction.  Short term the price action appears to have paused around the current level, so we will need to wait and see what direction it moves.  Local real estate conditions are currently leaning towards it still being a home buyers market.  Based on the current home selling rate, there is still several months of inventory available and buyers should find plenty of homes to choose from.

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The Cascade Team Real Estate

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