There were a number of changes in the Carlsbad housing market from last month, and from 1 year ago. Here’s what happened in October 2020.
185 homes sold in Carlsbad in October, 6 fewer homes than in September. This is still a substantial number of sales for any month we’ve seen over the last 2 years!
Single Family Homes Sold – 116 (down 12%); 22 Average Days on Market; Average Sales price was $1,209,444 (down 3%), Average sales price was 99% of original asking price
Condos, Townhomes & Duplexes Sold – 69 (up 17%); Average Sales price was $758,766 (up 14%), Average sales price was 99% of original asking price
Carlsbad home sales in October decreased overall from September; single family home sales decreased but there was a substantial increase in condo, townhome and duplex sales. The average sales price for single family homes was slightly lower, but was higher for condos, townhomes and duplexes. The September sales prices ranged from $95,000 to $3,500,000.
Many buyers made quick decisions to see properties and then made successful offers in October; 38% of the homes went pending in 1 week or less, similar to last month.
Single family home sales were up significantly by 30% from October 1 year ago, and there were 19% more condo, townhome and duplex sales. The average sales price for October 2020 was 14% higher for single family homes compared to 1 year ago, and 18% higher for condos, townhomes and duplexes.
On average, Carlsbad buyers were able to negotiate the purchase of their homes 1% off the original asking price. At the same, however, 55% of the home buyers paid asking price or higher for their homes; this is a good indication of the competition that continues in the Carlsbad housing market due to the limited supply and high demand.
The median sales price for single family homes was $1,130,000, down 8% from last month, and $630,000 for condos, townhomes and duplexes, up by 7% from September.
There were 15 homes in Carlsbad at the end of October with an Active Under Contract status, versus 21 last month. These homes are technically still available, but some of these listings may not allow more showings or accept more back-up offers.
Inventory in October dropped by 8% from last month, with 178 Carlsbad homes for sale at the end of October, ranging in price from $325,000 to $26,950,000.
Carlsbad continues to be a very strong sellers’ market based on current inventory and buyer demand. We have only 1.4 months of inventory for condos, townhomes and duplexes (a slight improvement from last month); it’s even more competitive for single family homes, with less than 1 month supply, based on the rate of sales over the last 3 months.
201 new listings came on the market in October, compared to 208 last month; that’s an average of over 6 per day. 173 homes went pending (excluding homes that closed in October), a slight decrease by 2% from September but still an average of about 6 listings going pending each day. October was a busy month for both buyers and sellers.
This overview of the Carlsbad real estate market is based on information provided by the MLS. I’m happy to provide more details with regard to current activity as well as for specific neighborhoods of Carlsbad that interest you, such as La Costa, Aviara, Bressi Ranch or Calavera Hills.
Please contact me at (760) 840-1360 so we can discuss your housing needs, timing, lifestyle and budget, and any questions that you have. Then we can create a strategy to get you into a new Carlsbad home, and/or help you sell your current Carlsbad home.
Here’s a link to the September market report for Carlsbad in case you missed it.