This week we are going to take a look at the Carlsbad real estate market for last month, comparing it to July as well as to August of 2011. Here are the important numbers to look at:
Total closed transactions: 145
Average price per sq. ft.: $260.85
Average days on market: 74
Total closed transactions: 149
Average price per sq. ft.: $255.87
Average days on market: 80
Total closed transactions: 163
Average price per sq. ft.: $256.07
Average days on market: 62
These numbers clearly reflect the improving real estate market in Carlsbad. While prices are down slightly from last year, they are up from last month. Additionally, sales volume is up 12% from last year and the average number of days it took to sell a home was down 16%.
We can also analyze the market by viewing the pace of sales. Last month 183 homes came on the market in Carlsbad. Of those 183 homes, 20 are now Contingent (short sales with offers that have been accepted by the seller and submitted to the bank for short sale approval) and 54 are Pending. This means that 74 of the 183 homes (40%) that came on the market already have acceptable offers.
No matter how you slice it, the real estate market in Carlsbad is gaining health and momentum day by day, week by week, and month by month. Now, if we could just get more inventory on the market to satisfy the demand out there!