Aviara Real Estate Market Update January 2014

Aviara Real Estate Market Data

January 2014

Michael Gaddis shares the market activity for the Aviara neighborhood of Carlsbad, California. If you have interests in buying or selling in Aviara, we would love to be of service to you. Call 760.487.8266 today or Toll Free 888.242.2272.

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Aviara Real Estate Market Update Video Transcript

Hi I’m Michael Gaddis, your local Aviara real estate expert. You know as the cold weather hits the rest of the country we should all be grateful that we live in Southern California. I was at a coffee shop the other day and I was walking out early in the morning and I heard somebody say it’s freezing outside. I has just sort of chuckled to myself. Originally I’m from Missouri which is a place that gets extremely cold in the winter time. In fact I was talking to my aunts the other day and they still live in Kansas City and they were telling me that it was two degrees two degrees outside and I thought about the guy saying he was freezing and it was like 47 or 48 degrees. I just laughed. We lose a lot of perspective out here and but it’s a wonderful place to live and we just have to keep that in mind and appreciate everything that we have here.

The purpose of this video is to provide you with a market update for the Aviara area for December. This video I’m doing this video on December 12th 2013. So the data that I’m going to be giving you is as a that day. When I pulled up the data, the market at MLS, I noticed that there is a lot at price reductions and price reductions are not overly unusual this time of year because the winter time because it’s too cold for people to move or because they don’t want to take their children out of school or change. There’s a lot of reasons. Or, the holidays. There’s a lot of reasons why people don’t purchase houses as much in the winter time as they do in other times of the year. So that’s not overly alarming to see that many price reductions. You know it I guess it is quite a few of them but besides that it’s not overly alarming. Especially after the mini boom that we had this summer where and you know prices really took a big jump for us a lot of people got on board late in the game thinking they were going to get the same price they were going to get two or three months ago. It just didn’t work out that way.

The market kind of became a little bit more stagnant and some people were stuck with the a little bit elevated prices on their houses, and now compensating for thereby reducing in a little bit. You know another reason why the prices are a little bit more stymied is that a lot of lenders have gone up again tighten their belt a little bit on lending practices made a little bit more difficult for the availability and money which depletes the buyer pool. So we don’t have quite as many buyers in this price bracket as we did in other times a year so far, but it’s cyclical and you know I anticipate that when the spring and summer time comes around that you’ll see all of those a down arrows on the MLS turn into up arrows. So I think that’s you know is a normal part of the cycle on right now in Aviara.

In Aviara, there are 20 active listings, just 1 contingent listing, 10 pending listings and 12 sold listings for total 43. The reason I kind of was like just one pending list I mean contingent listing is because contingent listings are usually short sales and this is a sign that short sales are becoming less and less common. As you know a few years ago, there were short sales everywhere, and you turn on the MLS every listing was either a short sale or an REO and very few equity sales. But now that the market is definitely on correcting itself and so when I see 1 contingent that tells me that there’s only really one actively being actively negotiated short selling in the Aviara area.

As I mentioned there are around 12 sold listings for a total of 43. Statistically speaking the average square footage for the house currently being sold is 2,779 square feet, the average list price is $967,000, the average sold price is $954,000. Now what’s interesting about that is that the average list price and the average sold price pretty close. I mean sought by about thirteen thousand dollars, so that’s not a huge discrepancy in those numbers so that’s pretty good it means people are pretty much getting what they’re asking for. The sold price per square foot is average $300.28 so that is really good as well that’s actually a better than La Costa, Bressi Rancho and Rancho Carrillo. Could be good to everyone because the price per square foot is holding steady. The average days on market is about 55 days which is pretty consistent with some the other areas in Carlsbad.

Sometimes people are just say real quick sometimes people like to know what the most expensive house that sold in the area is and so I will tell you. On October 22nd, a 7156 Aciara drive sold for $2.25 million dollars. This house was 7,131 square feet so it’s pretty large house sold for $2.25 million. That’s your most expensive house this summer this past quarter so I hope to do these types of videos at least once a month to give us you know a pretty good idea of what’s going on in the community. So if you do require any more additional information beyond what I’m I’m talking about on this video. Please feel free to
either call me, you can email me, you can stop by my office. My office is in the towers of Bressi Ranch which is just of Palomar Airport Road not too far, or you can just visit my website. So again thank you so much for taking the time to review this video and I look forward to meeting you in the future.

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