September 2012 Update North County Monthly Trends

August continued the downward spiral of detached homes in inventory here while sales remained buoyant in North County zips codes covering most of Carlsbad, Oceanside, Encinitas and Vista. For a very detailed look at Carlsbad zip code 92009 including price trends please look at an earlier blog entry by pressing page down to look below this blog entry. Please note information here is copyright our company Coast and County Homes LLC and can be used with permission.

Sales at 397 in August for this area were over a 100 greater than last August and reached the highest level we have seen since we starting collecting this data in January 2009. The same can be said for the inventory figure now under half what it was in August last year. This trend may slow as there simply are too few homes coming onto the market to keep the sales figures up. All over North County we see homes being snapped up quickly or receiving multiple bids especially if they are under $750K. Higher priced home seem to slower getting into this mini boom. Distressed homes were 31% of the total home sold in August and while this figure is down a little and well below what we have seen here it remains a persistent problem in may areas.

Banks still seem to be taking there time on short sales and we recently had a home under appraised by a bank that will remain nameless causing the sale to be cancelled. The appraiser was totally out of touch with the current market which has, in the last three months, changed in favor of sellers. That house received multiple bids and will easily sell despite the misjudged appraisal. The changing market condition means sellers may now get multiple offers and prices they thought were out of reach just weeks ago. Buyers need to be qualified and ready to jump.

“Lo ball” bidding is unlikely to work and feeling you have time to choose will likely leave you with no choice at all. We can help you buy and sell and save you a small fortune in fees in one or both transactions with service our clients rave about. Do check this web site for the area of interest and look at the market trends for your zip code in each city page (scroll down for these) to give you a more detailed analysis of the market you are interested in. If your zip code is not here do call us and we will develop that analysis plus a detailed valuation of your home at no charge.

Below is a table showing the total sales for detached homes in Carlsbad, Vista, Encinitas and Oceanside zip codes (ex 92058 in Oceanside). Distressed homes is the percentage of homes sold that were short sales or bank owned. Active is the number of homes for sales at the beginning of the month. The “inv/month” column simply divides how many homes were for sale (active) by how many were sold in the last month. For detailed analysis of all the zip codes represented here please click each city tab and scroll down. We would be happy to give you a much more detailed analysis of your local area and what we believe your home might sell for in what we hope is a more upbeat market.

Below this chart we have one for just Carlsbad.

Any questions please email Joanne at [email protected] or call 760-438-1000.