November ushers in the beginning of the traditionally slow winter real estate market. So how is the winter real estate sales affecting the Carlsbad, CA community of Bressi Ranch?
Currently there are only 3 ACTIVE listings in Bressi Ranch: 2653 Paradise a 4 bedroom, 4 bath, 2,693 square foot home currently listed with a price range of $749,000 to $765,000; 2577 Garden House Road a 4 bedroom, 4 bath, 3,272 square foot home currently listed with a price range of $899,000 to $979,000; and 6311 Di Vita a 4 bedroom, 5 bath, 3,815 square foot home currently listed for $1.2M. The average price per square foot for these listings is $299.28. Although there are only 3 ACTIVE listings there are currently 7 PENDING listings. These 7 PENDING Listings have an average price per square foot of $277.77. This price per square foot is 7.2% below the current ACTIVE sales prices. The Bressi Ranch Fall real estate sales season was definitely flat and the Bressi Ranch PENDING listings definitely reflect the state of the Carlsbad real estate market as a whole. Since September 1, 2014 5 properties have closed in Bressi Ranch with an average price per square foot of $312.71. While the SOLD listings definitely reflect a much stronger price per square foot the fact that the ACTIVE and PENDING average price per square foot is so much lower demonstrates the sluggishness of the real estate market. At present, it is definitely a buyers market. There seems to be a struggle throughout the San Diego real estate market between buyers and sellers. Sellers want top dollar for their homes and refuse to admit that prices are trending downward while Buyers are definitely communicating that they will buy ONLY if the price is right.
Bressi Ranch is an amazing community and will surely weather this winter real estate season. Bressi Ranch will rebound in March and I am sure that the average price per square foot will again exceed $300.