The Carlsbad Real Estate market like most other markets in California has really seen a surge in real estate prices over the past year. It's been really amazing to watch as homes that used to be hard to sell and selling within a matter of days with real estate prices going higher and faster than a lot of buyers have ever seen. Some homes in the Carlsbad area have dramatically gone up in price and for those who have flipping properties over the past 12 months have been extremely lucky in the timing of all of this. The real question that everyone is thinking is how much longer will this real estate boom last? In order to try and figure out this answer it's important to understand how we got here.
In 2008, we saw the real estate economy collapse and the market got flooded with homes on the market. There was a huge supply of homes available for sale and very few people will to make a purchase at that time. After several years of bank foreclosures and short sale properties flooding the market things started to shift. All of the distressed properties went away since real estate prices started to go up. Real Estate prices started push slowly upward with a fewer supply of homes with a good demand for those wanting to buy.
This trend continue up to last year when the entire country was shut down due to the pandemic. Everyone thought this would cause another real estate relapse but the opposite happened. One of the reasons the real estate market thrived was due to the low inventory. Buyers realized they didn't like their houses that they were forced to stay in so the frenzy of buyers looking for homes started. Since there wasn't a lot of homes to choose from real estate prices started to go up. Basically a supply and demand issue. Buyers also had more money to play with since the Fed's kept the rates very low which meant more buying power for the same amount of money.
This is where the coming soon listings have offered to ease some of this pressure but allowing more properties to come on the market faster than before. The biggest different between a coming soon listing and an active listing is that the coming soon listing can stay on the market without having any days on the market occur. This is a huge selling feature for owners of properties which also helps the consumer understand what is expected to be on the market soon. The bottom line is that buyers have more options of homes now which is a good thing.
Carlsbad West 721 Grand Avenue
Luxurious single-story VIEW condo in the heart of Carlsbad Village. Impressive 2nd floor corner unit has "tree house feel" w/ elevator access, modern open floor plan, private deck w/ 2 additional storage closets. Quartz countertops, luxury flooring, white shaker cabinetry w/soft close doors, chef's kitchen w/ island, 2 counters that accommodate 8 bar stools for the ultimate entertaining experience. This gorgeous 2nd floor condo radiates a contemporary beach vibe, and offers custom paint, des...$1,599,000
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Listing information last updated on January 29th, 2023 at 8:31am PST.