The Cascade Team Blog

Southern California’s real estate market remains geared towards buyer's in the month of June, despite relatively strong demand from investors and others paying cash for homes. Real estate prices have trended sideways to down over the last couple of month, but many potential home buyers appear to still be on the sidelines and may still be waiting for a bottom in prices or a relaxing of the mortgage guidelines to allow more people to qualify for homes.

As of June 19th, the median price in Carlsbad for a single family detached home for sale was $719,000; a slight down tick from last week.  The seven day median housing price average has crossed over the 90 days median average, and has been trending down, as showing in the graph below.  With inventory still trending up, there appears to be increased  downward pressure on real estate prices in the market.  The current environment seems to be in a pause and we will need to see either more homes sold, reducing inventory, or prices migrating up (creating a sense of urgency among real estate buyers) to move out of the current cycle.  Days on market are continuing to trend down, at a current average of 125, but the real estate market action index was esentially flat.  Local real estate conditions are currently quite strong in favor of real estate buyers in the Carlsbad area.  Based on the current home selling rate, there is still several months of inventory available and homebuyers still have much to choose from.