Carlsbad Housing Market Report for November 2020

Carlsbad Market Report

There were a number of changes in the Carlsbad housing market in November as compared to October.

176 homes sold in Carlsbad in November, 5% fewer than October but this is still a substantial number of sales in any month over the last 2 years! Here are the details:

Single Family Homes Sold – 116 (no change); Average Days on Market was 14; Average Sales price was $1,233,160 (up 2%); Average sales price was 100% of original asking price

Condos, Townhomes & Duplexes Sold – 69 (down 13%); Average Days Market was 24; Average Sales price was $664,535 (down 12%); Average sales price was 99% of original asking price

Overall Carlsbad home sales in November decreased modestly from October, with the same number of single family home sales but a substantial decrease in sales of condos, town homes and duplexes. Sales prices ranged from $360,000 to $3,479,000.

The average sales price was slightly higher for single family homes, but was lower for condos, town homes and duplexes (8 of the sales in October were over $1M which had raised the month’s average).

Compared to November 2019, single family home sales were 38% higher, and there were 36% more condo, townhome and duplex sales. The average sales price for 2020 was 6% higher for single family homes, but 7% lower for condos, townhomes and duplexes compared to 1 year ago.

Many buyers made quick decisions to see homes and then made successful offers – 50% of the homes went pending in 1 week or less. According to the MLS listing one property – a fixer – had 29 offers!

Carlsbad buyers were able to negotiate the purchase of their homes an average of 1% off the original asking price. However, almost 2/3 of the home buyers (62%) paid asking price or better for their homes; buyer competition continues in the Carlsbad housing market.

The median sales price was $1,160,000 for single family homes, 3% higher than last month, and $586,000 for condos, townhomes and duplexes, a decline of 7% from October.

At the end of November there were 13 homes in Carlsbad with an Active Under Contract status, compared to 13 last month. These homes are technically still available but some of the listings may not allow more showings or accept more back-up offers, depending on the circumstances.

There were 138 Carlsbad homes for sale at the end of November, ranging in price from $325,000 to $26,950,000, which is 22% fewer than last month, not a surprise given the time of year.

Carlsbad’s current inventory is only 1 month for condos, townhomes and duplexes, and only 17 days for detached, based on the rate of sales over the last 3 months. Carlsbad continues to be a very strong sellers’ market based on current inventory and buyer demand, and became more competitive in November due to continued limited supply and strong demand.

In November 108 new listings hit the market, versus 201 last month. 124 homes went pending (excluding homes that closed), a decrease by 28% from October but still an average of about 4 listings going pending each day. It was a busy month for 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 might interest you, such as La Costa, Aviara, Bressi Ranch or Calavera Hills.

Please reach out to me at (760) 840-1360 so we can discuss your particular housing needs, timing, lifestyle and budget, and address any questions that you have. Then we will create a strategy to help you buy a new Carlsbad home in this strong seller’s market, and/or help you sell your current Carlsbad home when the timing is right for you.