Carlsbad Housing Market Report for September 2020

Market reports

Here’s what happened in the Carlsbad housing market in September, with several shifts from last month and 1 year ago.

191 homes sold in Carlsbad in September, a drop by 4% from August, but still a substantial number of sales for any month over the last 2 years!

Single Family Homes Sold – 132 (2 fewer homes); Average Sales price was $1,249,364 (up 8%); the Average sales price was 98% of the original asking price

Condos, Townhomes & Duplexes Sold – 59 (6 fewer); Average Sales price was $666,405 (11% higher); the Average sales price was 94% of the original asking price

Carlsbad home sales in September decreased modestly from August, with a slight decrease in single family home sales as well as a decline for condo, townhome and duplex sales. The average sales price was higher for single family homes, as well as for condos, townhomes and duplexes. September sales prices ranged from $310,000 to $3,050,000.

Single family home sales were up significantly by 80% compared to September 2019, while there were 16% more condo, townhome and duplex sales. The average sales price year over year was 18% higher for single family homes, and 9% higher for condos, townhomes and duplexes.

Many buyers made decisions quickly to see properties, and then made successful offers, with 36% of the homes going pending in 1 week or less.

Carlsbad buyers were able to negotiate the purchase of their homes for an average of 2 – 6% off the original asking price. At the same time, however, about half of the home buyers (52%) paid asking price or better for their homes, a good indication of the competition we have seen in the housing market for the last several months.

The median sales price for single family homes in September was $1,225,000, which was 11% higher than last month. The median was $590,000 for condos, townhomes and duplexes, the same as in August.

There were 21 homes in Carlsbad at the end of September with a Contingent status versus 6 last month (this status has been renamed “Active Under Contract” in our MLS). These homes are technically still available (in some cases they may be short sales or REOs) but some may not allow more showings or accept more back-up offers. All were first right of refusals.

The inventory dropped by 9% from August, with 193 Carlsbad homes for sale at the end of September, ranging in price from $105,000 (a manufactured home) to $26,950,000 for an oceanfront estate in Terramar.

Carlsbad’s current inventory is only 1.3 months for condos, townhomes and duplexes (a drop from 1.5 months), and is less than 1 month for detached (no change) 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, becoming more competitive in September due to limited supply and strong demand.

In September 180 new listings came on the market, compared to 208 last month. 184 homes went pending (excluding homes that closed in September), an increase by 5% from August, an average of about 6 listings going pending each day.

Please reach out to me at (760) 840-1360 so we can discuss your specific housing needs, timing, lifestyle and budget, and any questions you have. Then we can create a strategy to get you into a new Carlsbad home in 2020, and/or help you sell your current Carlsbad home.