As of Monday January 23, 2012, the median price for a single family residential Carlsbad home has decreased slightly to $615,000 with an average of 151 days on market, down 5 days from last weeks report. Days on market have held fairly steady over the last few weeks, but there were 46% of all listed properties who had a price decrease in the last seven days. Inventory levels have been relatively consistent given the current sell through rate. If the tightening continues, we may see the market start to shift towards the seller's zone. Recently, the seven day moving price average recently made a minor move accross the 90 day moving average, which would suggest that price stabilization is starting to form in the Carlsbad housing market. However, we did see a small down tick of the seven day moving average for homes in Carlsbad.
Home sales are continuing to out pace new inventory, but this is still a home buyer's market in Carlsbad, even though excess inventory is beginning to be consumed. We need to see a persistent shift in housing market action before we can confidently say that prices are on the rise. Housing inventory overall had a slight increase over the prior week, with currently active MLS listings in San Diego County sitting at 12421 residential & condo homes. There have been 28 new homes listed for sale in Carlsbad in the last seven days, with 9 of the 28 being priced above $600,000.
Lastly, we have seen a consistent trend with sold homes, as we again show 79 sold homes in Carlsbad over the last 90 days. To get an idea of what your home may be worth, take a look at the sold homes in your neighborhood; this is what banks look at to determine fair market value for home purchases and re-finances.