All across San Diego County, May brought a number of big numbers to the local real estate market. Nearly in all areas, increases were seen in the number of homes sold, the prices which willing buyers were happy to pay for these properties and how quickly the properties were sold once being listed for sale. While not all cities showed dramatic gains, the city of Carlsbad reported big increases across the board.
How good is the market in Carlsbad? By taking a look at the numbers for the city, as well as those of the San Diego real estate market as a whole, you'll easily see how beneficial these trends are for Carlsbad homeowners
What's Happening with San Diego Real Estate?
While April had shown positive, but slightly slower growth for the city's residential market, May picked up right where the previous months had left off. The number of sales being completed is up well over 10% over the previous month and prices are just continuing to rise. All over the city, a shortage of inventory is helping fuel a marketplace where cash buyers are competing with each other, often times bidding over the listing price, for quality homes. So far, this year has brought a strong upswing in the whole San Diego real estate market.
Homes are Selling Faster and for More Money in Carlsbad
Even with the overall strength of the local market, the city of Carlsbad is showing exceptionally strong increases, especially this past month. According to a monthly report released by the San Diego Association of Realtors, May showed incredible year over year gains for the community.
For the month of May, the median sales price for a home in Carlsbad was just over $757,500. When compared to the average of $655,000 during the same month in 2012, it shows a 15.6% gain in value just one year. Over the same period of time, the number of days it took a home to was nearly cut in half. In May 2012, this number was at 60 – now the Carlsbad real estate market is down to 35. This means that Carlsbad homes for sale are selling faster and for more money than we have seen in years in the city.
Although we've been experiencing gains throughout the year, many homeowners across San Diego are just now realizing how much their properties have increased in value recently. For a number of property owners in cities such as Carlsbad which have seen some big gains, this is the first time since the beginning of the housing crisis that they are no longer underwater on their properties. With growth expected to continue in the near future, this is the perfect time for anyone who owns Carlsbad real estate to at least evaluate their housing options.