Hey, my name is Steve Olson with the Steve Olson group here in Carlsbad, California. Listen, we’re going through some weird times right now yes, or no, right? The positive thing is is I can’t think of a better place in the entire country to be quarantined than here in Carlsbad, California. So I hope you guys are all doing safe are I hope you’re all being safe. I hope that you have everything that you need. I hope everything is going as good as it could go, allright? I’m going to start doing these videos because I actually enjoy doing them. I actually enjoy giving you everything that you need so you guys can make informed decisions in real estate. Now look, I’m not going to tell you right now that is the best time to buy real estate. I’m not going to tell you that it’s the best time to sell real estate right now. But I am going to tell you is if you have to transact right now, if you’ve got a reason to go through a transaction, there could be some unique opportunities on the market as we speak right now, but my goal is not to convince you that you should or shouldn’t if you must if you have to if you want to I can give you a good path.
[00:00:00] Let’s talk about 92011 one real estate my ZIP code where I live those of you guys that have a lot of context of me I live in Waters End right here by the beach. I love it here. I love everywhere around this. So I’m gonna start with my home zip code and I’ll start rolling out these videos every month for all the four ZIP codes in Carlsbad, we’ll do Encinitas we’ll do Cardiff and we’ll do Solana Beach because that seems to you know, bleed a little bit in regards to the real estate market people tend to consider those four markets together based on, you know, some of the needs and all that so I’ll give you guys all that data.
[00:00:00] So I wrote some interesting things down in March which would be these are March stats not this month because we are halfway through April right now. The average sales price in March in Carlsbad was $907,006. Some of you guys might think like, oh my God, that seems like very low that’s a blended condo, townhome, and detached number. That’s that’s the entire market. In February. The average sales price was a $1,041,534. So pretty sizable drop and as you look at those stats, I want you to think like it doesn’t mean that we lost equity in 30 days. That’s not what that stat means. That means. I’ve all the homes of actually closed escrow.
[00:02:00] Grow the type of product that closed in March, was a little lower than what closed in February. Is there some Equity differential right there? Sure there is right could more condos and sold last month and maybe the month before? Of course. There’s a bunch of reasons why that number is going to be in fluctuation. We won’t really know what happens to equity until we look at like the six-month numbers in my opinion starting on March 1st. Once were August September October and we get to look at all those numbers back then then we’ll have a really good idea of what this actually did equity wise, but just know that from February to March. We went from a $1,041,000 to $977,000.
[00:02:34] Here’s where the numbers get interesting. In 92011 in March, there were 63 active listings, in February., there were 67. So we went down for that’s a good number. I’m happy with that. There were 36 new homes listed on the market and 92011 one in March and in February, there were 38. So only two less which is good. Pending sales 23 homes 23 properties went under contract in March in 92011. in February 21, so two more went under contract.
[00:03:03] From a sold perspective. We sold 22 in the month of March and in February, we sold 29. Here’s a really interesting stat. And this is why when I led up to the video earlier when I told you if you if you must transact right now, there could be some unique opportunities, especially if you’re a homeowner looking to sell the property to either upgrade or downgrade or take advantage of something else. It might be in the market. The average days on Market which means the moment the home hits the MLS till the moment it goes. contract. Good for that?
[00:03:32] In February. I’m sorry in March scratch that in March was 28 days which in my opinion is a really good number. A lot of you guys are watching this that are in the real estate space as well. You remember back in the old days when I’m like 90 days on Market was a good like we were we were okay having a listing active on the market for three to six months. And now if it’s if it’s sits over 30 days like we just we freak out right?
[00:03:55] So the average days on Market in March where 28 days but back in December, which all
[00:04:00] Us would agree December was was a good month. November was a good month. October was a good month. You want to know what the number was back then?
[00:04:06] It was 70. It was 70 over double what it was in March. So is the inventory down? Of course it is and it’s going to be down for a little while as people try to figure out how to navigate through all of this stuff. Inventory is going to go down, but for the ones that are in the market there could be an opportunity. A lot of the homes of their price right if they’re staged if they’re if they’re TurnKey and I think I’ll talk about staging and TurnKey in another video.
[00:04:30] If you want to have success in today’s market, you need to be able to walk through that with a camera and a buyer needs to be able to get excited with the video going through and if they’re just seeing how you’re living right now, it’s really hard to get that excited. But for those of you guys that can stage. For those of you guys that can do a little bit of remodeling and actually make that property HGTV-like, I think you’re going to get a lot of success in this market.
[00:04:51] We know that homes are selling much quicker because there’s less inventory. There’s much less buyers probably a little bit more competition, right? But that remains to be seen we need a couple more months of data to look at that.
[00:05:01] But listen, it’s it’s it’s an interesting Market in my opinion. I think we have the greatest insurance policy that exists in the U.S. I’d say it’s especially where I live two blocks that way. We’ve got the ocean, right so ocean real estate will always fare better than everywhere else. Are we going to go through an adjustment? Of course we will. Are we going to come out the other side? Of course, we will right? It’s just a matter of time. So if you have any questions about real estate more specifically Carlsbad Encinitas Cardiff, Solana Beach, my name is
[00:05:30] Steve Olson with a Steve Olson group. You can contact me below and I’ll see you on the next one alright?
[00:05:34] talk soon.