Here’s a summary of the Carlsbad housing market activity for October 2021.
146 homes sold in Carlsbad in October, just 3 fewer than in September! (Here’s the market report for September in case you missed it!)
Single Family Homes Sold – 96 (down by 4); Average Days on Market was 14. The average Sales Price was $1,607,269 (up 3%). The average Sales Price was 103% of original asking price
Condos, Townhomes & Duplexes Sold – 50 (up by 1); Average Days on Market was 29. The average Sales Price was $883,672 (down 7%). The average Sales Price was 102% of original asking price.
Carlsbad home sales in October decreased slightly from September. The average sales price rose for single family homes, but declined for condos, townhomes and duplexes. The sales prices in October ranged from $426,500 to $3,895,000. The average time on the market was about the same as last month for single family homes at 2 weeks, but increased to 29 days for condos, townhomes, and duplexes.
Looking back at October 2020, there were 18% fewer sales of single family homes in October. There were 32% fewer condos, townhomes and duplexes sold in October 2021. The average sales price year over year was 31% higher for single family home, with a 21% increase in the median price. The average price was 16% higher for condos, townhomes and duplexes, with a median that was 15% higher.
A number of buyers decided quickly to tour homes and submit their successful offers, with almost half of the homes (47%) going pending in 7 days or less! The message here is that making decisions quickly is essential in order to compete successfully as a home buyer!
About 1/3 of Carlsbad buyers were able to successfully negotiate money off the original asking price. However 69% of them paid full price or higher! This is important to remember if you plan to buy a home!
The median sales price for single family detached homes was $1,399,950, 4% higher than in September, and was $808,010 for condos, townhomes and duplexes, which was down 9% from last month.
There was a 5% increase in inventory, from 92 last month to 97 in October, a little good news. List prices range from $510,000 to $6,450,000.
Carlsbad’s current inventory remains limited, with a 16-day supply of condos, townhomes and duplexes, and 22 days for single family homes, based on the rate of sales over the last 3 months. Carlsbad is still a very strong sellers’ market based on current supply and demand.
In October 120 new listings entered the market, as compared to 124 last month, an average of 4 per day. 109 homes went pending (excluding homes that closed), a 14% decline compared to last month. It was still another busy month for buyers and sellers.
This summary of the Carlsbad real estate market is derived from data provided by the MLS. I’m happy to provide more details regarding current activity, as well as for specific neighborhoods that interest you.
Please reach out to me at (760) 840-1360 so we can discuss your housing needs, timing, lifestyle and budget, and your questions. We can then create a strategy to help buy your new Carlsbad home, and/or assist selling with your current home.