Here’s what happened in the busy Carlsbad housing market last month. 119 homes sold in February, a modest jump of 4% from January.
Single Family Homes Sold – 70 (up 18%); Average Days on Market was 13; Average Sales price was $1,471,496 (10% higher); Average sales price was 102% of original asking price
Condos, Townhomes & Duplexes Sold – 49 (down by 11%); Average Days on Market was 17; Average Sales price was $728,277 (up 2%); Average sales price was 101% of the original asking price
Carlsbad home sales in February increased from January, with substantially more single family homes sold but fewer condos, townhomes and duplexes. The average sales price was higher for single family homes, as it was for condos, townhomes and duplexes. Sales prices ranged from $380,000 to $10,000,000.
Looking back to February 2020, sales of single family homes was about the same, with 1 fewer sale in February 2021, but there were 5 more condo, townhome and duplex sales in 2021. The average sales price year over year was 31% higher for single family homes, and 26% higher for condos, townhomes and duplexes.
Clearly buyers made quick decisions to see properties and then made successful offers, with over half of the homes (62%) going pending in 1 week or less. If you are a prospective buyer in today’s market this is important to keep in mind!
While there was some negotiation on prices, 73% of buyers paid full price or higher. This is a reflection of the current competition among Carlsbad buyers.
The median sales price for single family homes was $1,337,500, up 12% from last month; the median price rose 6% to $619,000 for condos, townhomes and duplexes.
There were 5 homes in Carlsbad at the end of February with an Active Under Contract status, versus 11 last month.
There was some good news for buyers as far an inventory is concerned – it rose 40% at the end of January to 108 listings at the end of February, ranging in price from $325,000 to $11,800,000. Is the inventory still tight? Yes, but it improved some!
That said, Carlsbad’s current inventory remains limited, with a 25 day supply for condos, townhomes and duplexes, and 23 days for single family homes, based on the rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ market based on existing inventory and buying demand.
We saw 150 new listings come on the market in February, a 33% increase and good news for buyers. 113 homes went pending, excluding those homes that closed in February, up 19% from January.
This overview of the Carlsbad real estate market is based on information provided by the MLS. I’m happy to share more information regarding current activity as well as what’s going on in neighborhoods that interest you.
If I can be of assistance please contact me at (760) 840-1360. We will discuss your particular housing needs, timing, lifestyle and budget, and any questions that you have. Armed with that information we can develop a strategy to help you buy a new Carlsbad home, and/or sell your current Carlsbad home for the best price.