As of Monday April 2nd, 2012, the median price for a single family residential Carlsbad home has increased dramatically to $678,490 with an average of 137 days on market, up 6 days from last weeks report. Days on market have held fairly steady over the last few weeks, however only 34% of all listed properties who had a price decrease in the last seven days, while 5% of the homes had price increases. Inventory levels have been relatively consistent given the current sell through rate, and overall days on market are trending downward. Recently, the seven day moving price average recently made a strong move up away from the 90 day moving average, which would suggest that price stabilization is starting and short term prices are on the rise in the Carlsbad housing market.
Home sales appear to be in-line with new inventory, but this is still a home buyer's market in Carlsbad, even though excess inventory continues to be consumed. Housing inventory overall had a slight increase over the prior week, with currently active MLS listings in San Diego County sitting at 11978 residential & condo homes. There have been 25 new homes listed for sale in Carlsbad in the last seven days, with 8 of the 25 being priced above $600,000.
Lastly, we have seen a consistent trend with sold homes, as we again show 79 sold homes in Carlsbad over the last 90 days. To get an idea of what your home 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. As lending guidelines continue to ebb and flow, it is important to know what you qualify for.