We saw several shifts in the Carlsbad housing market from last month and 1 year ago. These market statistics do not include private sales or manufactured/mobile/multi-family housing; the numbers are derived from the MLS and are believed to be accurate at the time they are reported but are not guaranteed.
A total of 150 homes sold in Carlsbad in May, down by 1% from April.
Detached Homes Sold – 93 (down 5%); 27 Averages Days on Market; Average Sale price was $1,101,505 (down by 1%), Average sales price was 97% of the original asking price
Attached Homes (condos, town homes, twin homes) Sold – 57 (up 6%); 26 Days on Market on average; Average Sales price was $601,994 (up 2%), Average sale price 98% of original asking price
Carlsbad home sales in May saw a decline in detached home sales but an increase in attached. Average sales prices decreased slightly for detached homes but went up slightly for attached homes.
Compared to May 2018, detached home sales were 7% higher, but 5% lower for attached homes. Average prices year over year shifted down by 1% for detached homes, and down by 5% for attached homes.
On average Carlsbad buyers bought their homes for 2 – 3% off the original asking price; however, 29% of the home buyers paid asking price or better for their new homes.
The median sales price for detached homes was $1,015,000 (down 2%) and $540,000 for attached, down 6% from April.
There were 10 homes in Carlsbad at the end of May with a CONTINGENT status, the same as last month. All 10 appear to be in a “first right of refusal” stage due to contingent offers being accepted. Interestingly we are see more contingent offers being accepted in certain situations.
There were 348 Carlsbad homes for sale at the end of May, a slight decrease by 1% from last month, the second decline in inventory.
Current inventory is about 2.5 months for attached homes and 2.4 months for detached based on the rate of sales over the last 3 months. Thus Carlsbad remains a strong sellers’ market based on current inventory and buyer demand, and buyers can expect competition on many, although not all, homes particularly in the lower price ranges.
In May 243 new listings came on the market, 3% more than last month. Similarly, the number of homes going pending in May (excluding homes that closed), 156, was 11% more than in April.
If I can answer any questions about the local market conditions in Carlsbad or assist you with your purchase and/or sale, please reach out to me at (760) 840-1360) via text or call me directly.