The Carlsbad housing market was busy again in March 2021, with 140 homes sold, an increase of 18% from February sales! Here are the details:
Single Family Homes Sold – 83 (19% more sales); 10 Average Days on Market; Average Sales price was $1,638,118 (11% higher); Average sales price was 106% of original asking price
Condos, Townhomes & Duplexes Sold – 57 (up 16%); 24 Average Days on Market; Average Sales price was $680,675 (down 7%); Average sales price was 102% of original asking price
Carlsbad home sales in March increased substantially from February, with significantly more single family homes sold, and more sales of condos, townhomes and duplexes. Sales prices ranged from $240,000 to $20,000,000.
The March average sales price was higher for single family homes but was modestly lower for condos, townhomes and duplexes.
Marketing time was shorter than in March for single family homes (averaging only 10 days) but longer for condos, townhomes, and duplexes.
Looking back 1 year ago to March 2020, sales of single family home were 18% lower than in March 2021; in contrast there were 5 fewer condo, townhome and duplex sales in 2021 than 1 year ago.
The average sales price year over year was 40% higher for single family homes this past month (no doubt influenced, in part, by the sale of 9 homes over $2M with 1 at $20M that raised the average compared to 1 year ago), but was 7% lower for condos, townhomes and duplexes.
Many buyers made quick decisions to see properties and then submitted successful offers, with the majority of the homes (70%) going pending in 1 week or less. This is essential to remember if you are a buyer in today’s market and want to compete successfully – you need to move quickly!
Some Carlsbad buyers negotiated the price of their homes off the original listing price, however most buyers (83%) paid full price or higher, some paying as much as 22% over the asking price. This is a good indicator of the competition among buyers in the Carlsbad housing market, and important to keep in mind if you are thinking of buying a home. Submitting a low offer will not enable you to succeed in most cases!
The median sales price for Carlsbad single family homes was up 1% from last month, at $1,350,000, another increase; the median for condos, townhomes and duplexes, also up by 1% from February to $625,000.
There were 8 homes in Carlsbad at the end of March with an Active Under Contract status, versus 5 last month. These homes are technically still available but some listings may not allow further showings or accept back-up offers.
Carlsbad inventory declined, dropping 15% from 108 at the end of February, to 92 at the end of March, with home prices ranging from $325,000 to $8,800,000.
Carlsbad has only a 21-day supply for condos, townhomes and duplexes (down from 25 days last month) and 22 days for single family homes (about the same as last month at 23 days), based on the rate of sales over the last 3 months. Carlsbad continues to be a very strong sellers’ market.
157 new listings came on the market in March, versus 150 last month, which was some good news for buyers. 148 homes went pending, excluding homes that closed, a substantial increase by 31% from February and an average of almost 5 pending listings each day. March was a busy month for both sellers and buyers.
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, including La Costa, Aviara, Bressi Ranch and Calavera Hills.
Please reach out to me at (760) 840-1360 so we can discuss your housing needs, timing, lifestyle and budget, and any questions that you have. We will create a strategy to help you buy a new Carlsbad home, and/or help you sell your current Carlsbad home.