December 9, 2024
Here is the Carlsbad Market Report for November. And here is the Market Report for October for comparison.
The Carlsbad real estate market continues to shift, with some changes from October and 1 year ago. Private sales, mobile homes and multi-family housing are not included. The statistics are taken from the MLS and are believed accurate as reported but are not guaranteed.
Media market reports typically speak in very general terms. As a result they do not reflect local Carlsbad housing market conditions (read more – How Local IS Local?). Up-to-date information about local market conditions will benefit you when you want to make important buying and/or selling decisions.
Homes sales dropped 26% from October, with 64 homes sold.
CARLSBAD MARKET REPORT DETAILS
Single Family Homes Sold – 43 (down 23%). 36 Average Days on Market. The Average Sales Price was $1,830,690 (down 1%). Average Sales Price was 96% of the original asking price.
Condos, Townhomes & Duplexes Sold – 21 (down 32%). 50 Average Days on Market. The Average Sales Price was $1,035,700 (less than 1% drop). Average Sales Price was 97% of the original asking price.
Carlsbad home sales in November declined significantly from October. Single family home sales dropped substantially, as did condo, townhome and duplex sales. The average sales price decreased slightly for single family homes. Average sale price also declined slightly for condos, townhomes and duplexes. Sales prices in November ranged from $605,000 to $3,500,000.
The average marketing time was longer for single family homes than last month. The average time on the market was also longer by several days for condos, townhomes, and duplexes.
4 more single family home sales sold in November 2024 than 1 year ago. 21 condos, townhomes and duplexes sold in November 2024 versus 22 1 year ago. The average sales price year over year was 4% lower for single family homes in November 2024 (the median price was 1% higher). On the other hand, the average sales price was 6% higher for condos, townhomes and duplexes sold in November 2024 than 1 year ago, and the median price was 20% higher.
Some buyers made prompt decisions to tour listings and then submit successful offers. 27% of the homes went pending in 7 days or less, which was fewer than last month. As a result, it’s still important for home buyers to be prepared to make quick decisions in the current housing market in Carlsbad.
The majority of buyers were able to negotiate their home purchase prices down from asking price. At the same time, however, 38% paid list price or more for their homes. Buyer competition continues, and it’s important to keep this in mind during your home search and when planning your offer strategy!
The median sales price for single family detached homes was $1,750,000, down from $1,940,000 in October. The median price was $1,056,476 for condos, townhomes and duplexes, up from $900,000 last month.
Inventory at the end of November (181) decreased by 16% from last month’s 215 listings. List prices range from $480,000 to $11,500,000.
There is a 2.6 month supply of condos, townhomes and duplexes, a slight improvement from 2.5 months last month. There is a supply of 2.1 months for single family homes, a small drop from 2.2 months last month. This is based on the rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ housing market.
67 new listings came on the market in November, compared to 115 last month, a substantial decrease. In contrast, 74 homes went pending (excluding homes that closed in November), compared to 61 in October.
This summary of the Carlsbad housing market is based on data from the MLS. I can share other details about activity, including neighborhoods of interest such as La Costa, Aviara, Bressi Ranch, and Calavera Hills.
Please reach out directly or via text at (760) 840-1360 to discuss your particular housing needs, timing, lifestyle, budget, and questions. We can work together to develop a strategy to buy your new Carlsbad home, and/or sell your current Carlsbad home.
