As of Monday October 24, 2011, the median price for a single family residential home in Carlsbad has begun to trend up to $711,950, with an average of 145 active days on market. While Carlsbad home prices have now moved above the $700K point, the days on market have held fairly steady. We need to see days on market begin to trend down to create more stability in pricing. While Carlsbad home price action has been essentially flat, and there doesn't seem to be a strong pull in either direction, both the 90 day and 7 day averages have recently touched the $700K price point, which would create a double bottom if prices can hold at this level. In addition, the seven day moving price average just recently crossed the 90 day average, which could be signalling some strength in Carlsbad house pricing.
Home sales have been exceeding new inventory for several weeks. While still a Buyer's market, prices seem to have responded by moving upward. If the demand trends continue, we can probably expect prices to keep marching upward, especially once we move more closely to being in a seller's market. Housing inventory overall had a slight reduction over the last 30 days, with currently active MLS listings sitting at 14802 total residential & condo properties available on the San Diego MLS. There have been 27 new homes listed in Carlsbad in the last seven days.
Carlsbad home buyers still have a variety of homes, however as prices start to tick up it should motivate buyers to start writing new purchase contracts. Given where rates are currently at, they could be a catalist to getting the market moving again. Local Carlsbad home market conditions are currently quite strong in favor of home buyers, but could start to turn more in the sellers favor if the current trend continues.
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