October 3, 2024
Here’s the Carlsbad Market Report for September. And here’s the Market Report for August as a comparison.
The Carlsbad real estate market continues to shift, with changes from August and 1 year ago. Private sales, mobile homes and multi-family housing are not included (the numbers are taken from the MLS and believed to be accurate as reported but are not guaranteed).
Media market reports typically are very generalized. 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 need to make important buying and/or selling decisions.
88 homes sold in Carlsbad in September, 9% fewer sales than in August.
CARLSBAD MARKET REPORT DETAILS
Single Family Homes Sold – 57 (down by 4). 35 Average Days on Market. The Average Sales Price was $1,963,231 (up 2%). Average Sales Price was 96% of the original asking price.
Condos, Townhomes & Duplexes Sold – 31 (down by 5). 22 Average Days on Market. The Average Sales Price was $892,164 (down 12%). Average Sales Price was 98% of original asking price.
Overall Carlsbad home sales in September declined from last month. There were fewer single family home sales, as well as fewer condo, townhome and duplex sales. The average sales price increased modestly for single family homes, but decreased for condos, townhomes and duplexes. September sales prices ranged from $512,400 to $5,500,000.
Average marketing time was longer for single family homes, but shorter for condos, townhomes, and duplexes.
57 single family homes sold in September 2024, 1 more than a year ago. 31 condos, townhomes and duplexes sold in September 2024 compared to 36 a year ago. The average sales price year over year was 20% higher for single family homes in September 2024, while the median price was 21% higher. On the other hand, the average sales price and the median price were both 8% lower for condos, townhomes and duplexes sold in September 2024 compared to 1 year ago.
Plenty of buyers made quick decisions to tour listings and submit successful offers. 24% of the homes went pending in 1 week or less. Buyers should plan on making prompt decisions in the current housing market in Carlsbad.
Most buyers negotiated their home purchase prices down from asking price. However, at the same time 32% paid list price or more for their homes. Buyer competition continues, and it’s important to keep this in mind for your home search and when planning an offer strategy!
The median sales price for single family detached homes was $1,940,000, versus $1,774,214 last month. The median was $830,000 for condos, townhomes and duplexes, compared to $952,500 in August.
Inventory at the end of September (217) dropped by 4% from August (227). List prices range from $399,999 to $8,395,000.
There is a 2.6 month supply of condos, townhomes and duplexes (up from 2.5 months last month). There is a supply of 1.9 months for single family homes (down from 2.1 months last month). This is based on the rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ housing market.
104 new listings came on the market in September, compared to 124 last month, down by 16%. In contrast, pendings rose from 58 in August to 67 in September.
This summary of the Carlsbad housing market is based on data from the MLS. I can share other details about current activity and neighborhoods of interest to you (e.g., La Costa, Aviara, Bressi Ranch, Calavera Hills).
Please reach out to me by phone or text at (760) 840-1360 to discuss your particular housing needs, timing, lifestyle, budget, and questions. Together we can create a strategy to buy your new Carlsbad home, and/or sell your current home.
