As of Monday February 6, 2012, the median price for a single family residential Carlsbad home has increased slightly to $629,500, with an average of 147 days on market, down 4 days from last weeks report. Days on market have decreaased slightly over the last few weeks, with 46% of all listed properties having a price decrease in the last seven days. Inventory levels have been relatively consistent given the current sell through rate. As the tightening continues, we may see the market start to shift towards the Carlsbad home seller. This week, the seven day moving price average made a strong move accross the 90 day moving average, which would suggest that price stabilization is starting to form in the Carlsbad housing market.
Existing sales continue to out pace new home inventory, but this is still a homebuyer's market , even though excess inventory in Carlsbad is beginning to be consumed. We need to see a persistent shift in housing market action before we can confidently say that prices are on the rise. Housing inventory overall had a slight increase over the prior week, with currently active MLS listings in San Diego County sitting at 12481 residential & condo homes. There have been 23 new Carlsbad homes listed for sale in the last seven days, with 9 of the 23 priced at $599,000 or higher.
Lastly, we have seen a consistent trend with sold homes, as we again show 77 sold homes in Carlsbad over the last 90 days. At an average of 26 sold MLS listings per month, the inventory turnover is pretty close to a 1:1 ratio. If you would like to get an idea of what your home in Carlsbad may be worth, take a look at the sold homes in your neighborhood; this is what banks look at to determine fair market value for home purchases and re-finances.
To get more information on what your home may be worth or to see any listed home in the Carlsbad area, please contact one of our local Carlsbad Realtors.