What Happened in the Carlsbad Real Estate Market in December 2011?

The Carlsbad real estate market continues to shift, and the statistics for December show a number of changes from last month. These data do not include private sales or manufactured/mobile/multi-family housing; the numbers are derived from the MLS and are believed to be accurate but are not guaranteed.

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Media reports speak in general terms, so their information may not represent the reality of our local Carlsbad real estate market. Having data, and knowledge, about the local market conditions benefits you as a buyer or seller so you can make informed purchase and sale decisions.

In December 2011 there were 102 Carlsbad homes sold (92008, 92009, 92010 and 92011), a drop of 4% fro November sales. Here's the breakdown of overall activity.

	TOTAL HOMES	Detached	Attached
Number	102 (down 4%)	69 (up 3%)	33 (down 15%)
Days on Market	80	78	83
Average Sales Price	$518,503 (down 5%)	$610,711 down 10%)	$325,705 (down 1%
Average Sales$/List$	96%	97%	96%

The number of Carlsbad home sales declined modestly overall, but with more detached homes sold in December than in November. Overall average sale prices also declined. There is still some negotiation going on and buyers, on average are getting their homes for 3 – 4% off asking price.

There were 112 properties (18% of the total) in Carlsbad at the end of December with the CONTINGENT status, 3 more than last month (i.e., homes with offers being reviewed for approval by short sale and REO lenders).

There were 620 Carlsbad Homes for sale at the end of December, the 6^th decline in inventory, by 7%, and the lowest inventory in over a year! This represents an inventory of 6.3 months for attached homes (down from 6.5 months last month) and 4.7 months for detached (up from 4.5 last month) based on the current rate of sales over the last 6 months. The real estate market in Carlsbad continues to be competitive and is getting more so. Recent changes may be due, in part, to the holidays.

READ MORE: How Important is Inventory when Buying or Selling? Very!!

In December the number of new homes coming on the market decreased again, with 141 new listings (down 23%) hitting the market. This may be due to the time of year with the holidays. The number of homes going pending rose again, by 8%, to 97, from October pendings.

This overview of the Carlsbad real estate market is based on information provided by the MLS. More details can be provided with regard to current activity as well as within the specific zip codes of Carlsbad.

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