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Market Update: June 13th, 2011

Carlsbad's 92011 is experiencing higher levels of inventory that both seller's and buyers should take notice.  With over 125 homes for sale and 17 homes selling per month, the area has roughly 7 months of available homes to sell.  The average home in Carlsbad's 92011 is larger and more expensive than elsewhere in the city at 2,500 sq.ft for $700,000.

At the Lund Team, we take notice of how many homes there are to sell in select market areas.  The 92011 makes up Aviara, Poinsettia Park, West-I5, Water's End, Bay Collection - a number of very different communities.  

When inventory levels rise, we take notice as it means more competition. The average inventory levels in other areas of the city is between 4 and 5 months. 

What do higher levels of inventory mean:  

It means if no new homes were for sale it woud take X number of months to sell all the homes.  Anything over 7 months is notable.  

For Buyer’s:  Opportunity at more choices and stronger negotiation. 

For Seller’s: . More time on the market.  In extreme cases falling prices.  Prices often get soft when inventory gets above an 8 month running average.