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Nicky's Neighborhood News!

Well August flew by, I can’t believe we are in Mid-September already. The market is still very hot for sales, because of the low interest rates and very low inventory.
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I represented the buyers and we got in escrow within 5 days, beating several other offers. The Buyers are so excited to have their first homes in sunny California, moving from Connecticut.
At Home in Carlsbad
By Jeff Dowler
199 homes sold in Carlsbad in August, down 5% from last month but still a substantial number of sales in any month over the last 2 years! Here are the details:
Detached Homes Sold – 134 (6% more), averaging 21 days on the market; the average sales price was $1,156,243 (down 1%); the average sales price was 99% of the original asking price, so there was not a lot of negotiation.
Attached Homes (condos, town homes, twin homes) Sold – 65 (21% fewer), averaging 24 days on market; the average sales price was $600,754 (down 5%); the average sales price was 98% of original asking price
Overall Carlsbad home sales in August decreased from July; The average sales price was slightly lower for detached single family homes, and modestly lower for attached properties. Sales prices ranged from $294,600 to $2,100,000.
The average time on market (DOM) was shorter for both detached and attached home, only about 3 weeks. 49% of the homes went pending in 1 week or less, thus many buyers made decisions quickly to see homes and then made successful offers.
Carlsbad buyers, on average, negotiated 1 – 2% off the original asking price for their new homes. At the same, however, almost half of the home buyers (48%) paid asking price or better for their homes, a good indication of the competition happening in the market despite the pandemic.
The median sales price for detached homes was $1,100,000, up 1% from last month, and $590,000 for attached homes, down 4%.
Carlsbad’s current inventory is only 1.5 months for attached homes, and less than 1 month for detached, based on the rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ market based on current inventory and buyer demand, and became more competitive in August.
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Jose Olmos

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Decorating Tip of the Month!