This week's Altos Research Report for Carlsbad sheds some light on what type of inventory is on the market. The Supply and Demand section of the report says that the mix of homes on the market is becoming younger and newer, causing prices to go up.
So what are prices doing for closed sales? Here is a look at what sold and closed escrow in June and July:
June
- 183 closed sales
- Average sales price of $661,377
- Average price per square foot of $269.40
- Average home 3 bedrooms/3 baths and 2,450 square feet
July
- 138 closed sales
- Average sales price of $573,477
- Average price per square foot of $256.82
- Average home 3 bedrooms/3 baths and 2,242 square feet
The average home size for the July sales was 8.5% smaller than that for the June sales, and yet the average price per square foot in June was only 4.5% lower than July. The more interesting statistic is the drop in sales volume of 25%. Part of this is due to the restricted supply of homes on the market. Without ample inventory, sales can't happen.
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Bryan Devore
Prudential California Realty
(760) 908-3838
North San Diego County and Carlsbad Real Estate
