NEIGHBORHOOD/MARKET AREA DESCRIPTION
In Carlsbad, CA there is a mix of property types present with most being residential, schools, parks, or commercial. While a wider range of living areas are present, most condominiums range in living area size from 929 Sqft to 1,797 Sqft, with the most common being approximately 1,500 Sqft. Most properties (88%) have 2 or 3 bedrooms, and most properties (76%) have 2 or 2.5 bathrooms. Most condominiums range in year built from 1977 to 2000 with the most common year built being 1990. Views are present in the neighborhood and Realtors report that 75% of all condominiums have them. The views include: bay, city, evening lights, golf course, greenbelt, lagoon/estuary, lake/river, mountain/hills, ocean, and panoramic. Public and private services, conveniences, and employment are typical of population centers throughout the county.
In Carlsbad, CA, and as of the 12 month period ending 10/29/2013, condominium sale prices ranged from $110,000 to $3,675,000, with a median of $370,000. The median sale price changed 9% over the past year indicating an 'increasing' property values trend. The median $/Sqft changed 16% over the past year indicating an 'increasing' property values trend. There are currently 4 months of housing inventory indicating a demand/supply trend of 'in balance'. In the Sandicor.com multiple listing service, realtors report that 88% of all sales over the past 6 months did not have any sales restrictions, indicating that 12% of all sales were non-traditional sales, such as bank sales, short sales, estate sales, etc., which tend to be distressed sales. This is a change in the ratio of non-traditional sales of -29% when compared with the same period last year when 41% of all sales were non-traditional sale types. The median market exposure time over the past 60 days was 16 days. Based on recent-past market exposure times, I anticipate that the typical/median marketing time will be under 3 months over the coming 90 days. Sale value trends include standard/traditional sales only. This is to reduce the impact of distressed sales on the trends, which tend to sell for inconsistent prices. Inventory and marketing time statistics include all sale types.
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Brian A. Ward
Carlsbad, CA 92128 Real Estate Appraiser
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