Carlsbad Market Report November 2022

Here’s the November Carlsbad Market Report. The real estate market continues to shift, with changes from October and 1 year ago. Here’s the market report for October in case you missed it.

The data are taken from the MLS and believed to be accurate when reported but are not guaranteed.

Media reports speak in general terms, so they do not reflect local Carlsbad housing market conditions. You can learn more here – How Local IS Local? Current information and analysis about local market conditions benefits you when making your buying and/or selling decisions.

There were 73 homes sold in Carlsbad in November, which is 12% more than October. Here are the specifics:

Single Family Homes Sold – 49 (up by 5). 23 Average Days on Market. The Average Sales Price was $1,570,657 (down 14%). Average Sales Price was 94% of the original asking price.

Condos, Townhomes & Duplexes Sold – 24 (up by 3). 21 Average Days on Market. The Average Sales Price was $867,145 (down 6%). Average Sales Price was 96% of the original asking price.

Carlsbad home sales rose following October’s decline. There were more single family home sales, and more condo, townhome and duplex sales. The average sales price decreased for single family homes. Average sales price also decreased for condos, townhomes and duplexes. November sales prices ranged from $510,000 to $2,825,000.

The average marketing time was shorter for single family homes than in October, but longer for condos, townhomes, and duplexes. The average was still only a little over 3 weeks.

Compared to November 2021, there were 41% fewer sales of single family homes. And 53% fewer condos, townhomes and duplexes sold in November 2022. The average sales price year over year was 8% lower for single family homes (the median price was 2% lower). The average sales price was 5% higher in November 2022 for condos, townhomes and duplexes (the median price was 2% lower).

Some buyers made fairly quick decisions to tour homes and submit successful offers. 30% of the homes were pending in 7 days or less. Buyers should still plan to make quick decisions in Carlsbad’s housing market if they see a home they like!

Most of the buyers negotiated their home prices down from listing price. However, 16% paid asking price or higher for their homes. This is important to remember when planning your offer strategy!

The median sales price for single family detached homes was $1,535,000, 16% lower than last month. The median sales price was $760,000 for condos, townhomes and duplexes, 19% lower than October.

Inventory at the end of November, 137 listings, was lower than last month (148). List prices range from $345,000 to $13,500,000. The Carlsbad inventory still remains limited compared to demand.

There is a 1.5 month supply of condos, townhomes and duplexes, and 1.8 months for single family homes. This supply is based on the rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ housing market based on supply and demand.

76 listings came on the market in November, compared to 74 last month. In contrast, 36 homes went pending, excluding homes that closed, versus 52 last month.

Please reach out to me at (760) 840-1360 so we can discuss your housing needs, timing, budget, and questions. Then we can plan an effective strategy to buy your new Carlsbad home, and/or sell your current Carlsbad home.