As of July 10, 2011, the median price for a single family residential home in Carlsbad fell to $715,000, with an average of 127 days on market. In addition, there were 54% of the active listings that had price reductions, an uptick showing a further downward pressure on prices. While housing market action is essentially flat, and there doesn't seem to be a strong pull on home prices in either direction, both the 90 day and 7 day averages are showing a downward trend. Based on this market action, housing inventory appears to be rising, currently sitting at 16274 total residential & condo listings available. Carlsbad home buyers still have a variety of homes to choose from and there doesn't appear to be any sense of urgency by buyers. We need to see the seven day home pricing median number cross back over the 90 average to put some steam behind increasing the price of homes in Carlsbad. The current market seems to be in a pause mode right now and we will need to see either more homes sell or come off the market, reducing home for sale inventory, or prices ticking up. Days on market upticked again this week, while only a minor increase of 3 days, however we need to see this number start to come down in order for prices to stabilize. Local housing market conditions are currently quite strong in favor of home buyers in the Carlsbad area, even though home pricing is flat.
Southern California’s housing market remained geared towards buyer's in the month of April despite relatively strong demand from investors and others paying cash for homes. Prices have trended up slightly 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 May 1st, the median price in Carlsbad for a single family detached home for sale was $744,900. With inventory trending up, and days on market trending down, the real estate market action index was esentially flat and there doesn't appear to be a strong pull in either direction. Short term the price action appears to have paused around the current level, so we will need to wait and see what direction it moves. Local real estate conditions are currently leaning towards it still being a home buyers market. Based on the current home selling rate, there is still several months of inventory available and buyers should find plenty of homes to choose from.
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