Carlsbad Real Estate Market Update
Posted by The Cascade Team Real Estate on Tuesday, August 28th, 2012 at 3:17pm.
There are currently 369 single family residential Carlsbad homes for sale at a median price of $710,000, with an average of 117 days on market; up 10 days from the last report. Days on market has begun to lengthen over the last few weeks, with 33% of all listed properties had a price decrease in the last seven days, and only 5% of the homes in Carlsbad had a price increase. Inventory levels have been relatively consistent given the current sell through rate, and overall days on market are currently trending down. Recently, the seven day moving price average made a healthy move back towards the 90 day moving average, which would suggest that short term price movement is stalling.
Home inventory has been increasing lately, and the market appears to be cooling off just a bit, despite the uptick in average home prices. Housing inventory overall had a slight decrease over the prior week, with currently active MLS listings in San Diego County sitting at 10674 residential & condo homes. There have been 19 new homes listed for sale in Carlsbad in the last seven days, with only 5 of the 19 being priced above $600,000. The last week appears to be geared towards lower priced Carlsbad which is weighing on the home price average.
Lastly, we a very minor move in the number of sold properties as we moved back accross 100, with 101 closed homes in Carlsbad in 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.
To see current rates, check out our home loan partner at the bottom of this page. Local Carlsbad home market conditions are still favoring home buyers, and based on current interest rates it is a great time to purchase a home in the Carlsbad area.
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