Here’s what happened in the Carlsbad housing market in August – 170 homes sold, just 7 fewer sales than in July.
Single Family Homes Sold – 99 (14% fewer); 14 Average Days on Market; the Average Sales Price was $1,643,138 (up 12%); the Average Sales Price was 105% of original asking price
Condos, Townhomes & Duplexes Sold – 74 (19% more); 18 Average Days on Market; the Average Sales Price was $879,006 (no change); the Average Sales Price was 101% of original asking price.
Overall, Carlsbad home sales in August decreased modestly from July, with fewer single family home sales, but substantially more condo, townhome and duplex sales. The average sales price was higher for single family homes, but did not shift for condos, townhomes and duplexes.
Sales prices in August ranged from $430,000 to $4,200,000.
Marketing time remained about the same for single family homes (1 day longer at 14 days), and several days longer for condos, townhomes, and duplexes (18 days).
Compared to August 2020, there were 28% fewer sales of single family home in August 2021; in contrast, 25% more condos, townhomes and duplexes sold than 1 year ago.
The average sales price year-over-year was 43% higher for single family homes (median price was 41% higher); the average was 41% higher for condos, townhomes and duplexes (median was 17% higher) in August 2021.
Plenty of buyers made quick decisions to tour listings and then submit successful offers, given that about half of the homes (47%) went pending in 1 week or less! The message here is that if you wish to compete successfully as a home buyer making quick decisions will be important!
Some Carlsbad buyers negotiated the price of their homes down from the original asking price, however, 75% of the buyers paid full price or higher, including one at 150%, a short sale, and another at $157%! This is a good indication of the current competition, and important to keep in mind as a buyer. It’s pretty likely that submitting a low offer will not lead to success!
The median sales price for single family detached homes was $1,550,000, 15% higher than in July; the median for condos, townhomes and duplexes was $699,500, which was 3% less than last month.
We saw a 24% decline in the Carlsbad inventory, from 148 at the end of July to 112 at the end of August. This is not really unexpected given the time of year. Home prices ranged from $325,000 to $8,800,000.
Carlsbad’s current inventory remains limited, with a 17-day supply of condos, townhomes and duplexes, and 20 days for single family homes, based on the rate of sales over the last 3 months. Carlsbad continues as a very strong sellers’ market based on supply and strong demand.
143 new listings entered the market in August, versus 181 last month. In contrast, 149 homes went pending (excluding homes that closed), a 16% increase over July.
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 particular housing needs, timing, lifestyle, and budget, and any questions that you have. Then we can create a strategy to help you buy your new Carlsbad home, and/or help sell your current Carlsbad home if that is your plan.