We are in the middle of the busy home selling season and many people ask me how the market is faring. You will likely not be surprised to know that we are still low on inventory. Here are how the numbers look at this time.
There are currently 313 total active listings in Carlsbad as of today, 184 detached and 103 attached homes (this includes condos, townhomes, rowhomes, twinhomes and condos). There are 29 active mobile or modular homes (included in the detached category). As you can see from the graph above, which showcases the last 3 years of sales, there was more inventory in both categories at the same time last year.
Multiple offer situations continue to be a norm in many areas, especially those properties under one million dollars (and most specifically those under $700,000). Below is a graph showing total inventory for the last 5 years.
There are currently 170 detached homes and 77 attached properties with pending sales (properties that are currently in escrow). As we continue to head through the top time of year for buying and selling properties, it is clear that supply is not meeting demand. This will continue to drive up prices in many areas. Interest rates just rose slightly today so that will also spur some buyers to get out there and join the search party.
If you have any questions about inventory in a specific part of San Diego please feel free to contact me for a detailed analysis. Otherwise find a competent and professional agent in your desired area before deciding to buy or sell a home.