December 4, 2023
Here’s the Carlsbad Market Report for November 2023. And here is the market report for October as comparison in case you missed it.
The Carlsbad real estate market continues to evolve, with shifts from October and 1 year ago. Private sales, mobile homes and multi-family housing are not included. The data are from the MLS and believed to be accurate when reported but are not guaranteed.
Media reports speak in generalities. As a result they do not reflect local Carlsbad housing market conditions (read more – How Local IS Local?). Current information, and analysis, about local market conditions benefits you when you have to make buying and/or selling decisions.
58 homes sold in Carlsbad in November, 27% fewer sales than in October.
MARKET REPORT DETAILS
Single Family Homes Sold – 36 (down 14%). 30 Average Days on Market; The Average Sales Price was $1,881,986 (up 7%). Average Sales Price was 96% of original asking price.
Condos, Townhomes & Duplexes Sold – 22 (down 41%). 23 Average Days on Market. The Average Sales Price was $924,818 (up 8%). Average Sales Price was 93% of original asking price. 1 condo sale was a lease option to buy at $5,500.
Overall Carlsbad home sales declined from last month. There were fewer single family home sales, as well as fewer condo, townhome and duplex sales. The average sales price rose for single family homes, as well as for condos, townhomes and duplexes. November sales prices ranged from $561,000 to $6,300,000.
The average marketing time was longer for single family homes, and slightly longer for condos, townhomes, and duplexes.
Looking back at November 2022, there were 27% fewer sales of single family homes in 2023. There were 2 fewer condos, townhomes and duplexes sold in November 2023 than 1 year ago. The average sales price year over year was 20% higher for single family homes in 2023 (median price was 11% higher). The average sale price was 7% higher for condos, townhomes and duplexes (median price was 15% higher) in November 2023.
Some buyers decided quickly to tour homes and submit successful offers. 28% of the homes went pending in 7 days or less. It’s smart for buyers to not delay their decision-making in Carlsbad’s housing market!
The majority of the buyers were able to negotiate their home prices down from list price. However, 29% paid asking price or more for their homes. Buyer competition continues, and it’s important to factor this into planning your offer strategy!
The median sales price for single family detached homes was $1,710,000, versus $1,547,000 in October. The median was $872,500 for condos, townhomes and duplexes, up 5% from last month.
Inventory at the end of November (144) was down 6% from October (153). List prices range from $569,000 to $21,900,000.
There is a 1.6 month supply of condos, townhomes and duplexes (up from 1.5 months last month). The supply is 2.1 months for single family homes (up from 1.8 months last month). This is based on the rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ housing market.
69 new listings came on the market in November, compared to 92 last month. 49 homes went pending, excluding homes that closed in November, versus 45 in October.
This overview of the Carlsbad housing market is based on data in the MLS. I can provide more details about current activity in neighborhoods of interest (e.g., La Costa, Aviara, Bressi Ranch, Calavera Hills).
Please contact me directly or via text at (760) 840-1360 to discuss your specific housing needs, timing, lifestyle, budget, and questions. Then we can create a strategy to buy your new Carlsbad home, and/or sell your current Carlsbad home.