Here’s the Market Report for September 2022. And here’s the link to the August 2022 Market Report in case you missed it.
Media reports speak in general terms, thus they do not reflect local Carlsbad housing market conditions (Learn more – How Local IS Local?). Current information, and analysis, about local market conditions benefits you so you can make educated buying and/or selling decisions.
101 homes sold in Carlsbad in September, 11% fewer than in August. Here are the details:
Single Family Homes Sold – 55 (down 10%). Average Time on Market was 35 days. Average Sales Price was $1,622,940 (down 6%). The Average Sales Price was 93% of the original asking price.
Condos, Townhomes & Duplexes Sold – 46 (down 12%). Average Days on Market was 21. The Average Sales Price was $1,007,355 (up 9%). Average Sales Price was 97% of the original asking price.
Overall Carlsbad home sales in September decreased from August. There were fewer single family home sales, as well as fewer condo, townhome and duplex sales. The average sales price declined for single family homes, but was higher for condos, townhomes and duplexes. September sales prices ranged from $510,700 to $6,000,000.
The average time on the market was longer for single family homes, and for condos, townhomes, and duplexes.
Looking back at September 2021, there were 48% fewer single family home sales in 2022. Similarly, 16% fewer condos, townhomes and duplexes sold in September 2022. The average sales price year over year was 4% higher for single family homes (median price was 1% lower). The average price was 9% higher for condos, townhomes and duplexes (median price was 8% higher) in September 2022.
Some buyers made quick decisions to tour homes and submit successful offers. As a result 24% of the homes were pending in 7 days or less. It’s still important to consider making quick decisions in Carlsbad’s housing market to not miss out on an opportunity!
Plenty of Carlsbad buyers negotiated their home prices down from list price. At the same time, however, 1 out of 4 (26%) paid asking price or more for their homes! This is a good indicator of the continued competition. And it’s important to keep in mind for your offer strategy!
The median sales price for single family detached homes was $1,650,000, 12% lower than in August. The median was $837,500 for condos, townhomes and duplexes, 5% lower than last month.
There were 8 homes in Carlsbad at the end of September with an Active Under Contract status, compared to 11 last month. These homes are technically still active but may not allow further showings or accept more back-up offers. They are included in the statistics below.
Inventory at the end of September (165) was lower than last month (197). List prices range from $345,000 to $15,200,000. The Carlsbad inventory continues to be limited relative to buyer demand.
94 new listings came on the market in September, compared to 109 last month. Similarly, 61 homes went pending (excluding homes that closed), vs. 80 last month.
This overview of the Carlsbad housing market is based on data in the MLS. I can share more details with regard to current activity, as well as for neighborhoods of Carlsbad that interest you, such as La Costa, Aviara, Bressi Ranch or Calavera Hills. Please reach out to me at (760) 840-1360 if I can be of assistance.