This Week in Carlsbad Real Estate
What has been happening this week in Carlsbad real estate? If you look at the Altos Research Report, you might think that we're in a buyer's market, have been in a buyer's market, and will continue being in a buyer's market. However, if you look at the numbers according to the San Diego Multiple Listing Service, the story is a little different.
Since the beginning of July:
- 130 homes (attached and detached) have come onto the market in Carlsbad.
- Of the 130 homes, 6 are already Contingent (meaning they are short sales that received offers that have now been forwarded to the bank for approval)
- Of the 130 homes, 18 are already Pending (in escrow). So, 14% sold in 3 weeks or less.
- 104 total homes went Pending. With an inventory influx of 130 homes and an inventory out flux of 104 homes, that's still a fairly balanced market.
- 77 homes closed escrow with an average price per square foot of $258.
To put this last statistic into perspective, during the first 3 weeks of July 2011 83 homes closed escrow with an average price per square foot of $252. Sales are off just a little bit (less than 1%) but prices are up just a bit (about 2.5%).
On the street, we are still seeing multiple offers on well-priced homes and there is an overall lack of quality supply. Of the 364 total Active listings on the market, 96 (over 25%) have been on the market for over 90 days. If 24 of the 130 homes that have come on the market this month already have accepted offers, perhaps those 96 homes are overpriced.
Prudential California Realty
North San Diego County and Carlsbad Real Estate
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