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Carlsbad Real Estate Update - August 9th

As of August 9th, 2011, the median price for a single family residential home in Carlsbad fell to $699,995, with an average of 127 active days on the Carlsbad real estate market.  In addition, there were 51% of the active MLS listings that had price reductions, just slightly less than last week, showing a continued pressure on home prices.  While Carlsbad homes for sale action has been essentially flat, and there doesn't seem to be a strong pull on home prices in either direction, both the 90 day and 7 day averages are showing a downward trend.  Based on this market action, housing inventory appears static, with currently active MLS listings sitting at 15935 total residential & condo properties available on the San Diego MLS.  

Carlsbad homebuyers still have a variety of homes to choose from and there doesn't appear to be any sense of urgency.  We need to see the seven day home pricing median number cross back over the 90 average to put some steam behind increasing the price of homes in the Carlsbad area.  The current market seems to be in a pause mode right now and we will still need to see either more homes sell or come off the market, reducing housing inventory, or a tick up in average prices.  Days on market was essentially flat this week, however we need to see this number start to come down in order for prices to stabilize.  Local Carlsbad home market conditions are currently quite strong in favor of home buyers in the Carlsbad area, even though home prices appear to be flat.

The Cascade Team Real Estate

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