As of Monday May 7th, 2012, the median price for a single family residential Carlsbad home has increased again to $699,888, with an average of 128 days on market, down 9 days from the last report. Days on market have held fairly steady over the last few weeks, however 35% of all listed properties had a price decrease in the last seven days, while 8% of the homes for sale had a price increase. Inventory levels have been relatively consistent given the current sell through rate, and overall days on market are trending flat to slightly down. 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. This past week the seven day rolling average is holding flat, while the 90 day average is climbing.
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 11664 residential & condo homes. There have been 25 new homes listed for sale in Carlsbad in the last seven days, with 9 of the 25 being priced above $600,000.
Lastly, we have seen a consistent trend with sold homes, as we again show 100 sold homes in Carlsbad over the last 90 days, up 21 sold homes from the prior report. This is a good sign that sold inventory is climbing. 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.