Here’s the Carlsbad Housing Market Report of sales activity in November.
132 homes sold in Carlsbad, 10% fewer than in October! Here are the specifics:
Single Family Homes Sold – 82 (down 15%); 13 Average Days on Market; Average Sales Price was $1,706,837 (up 6%); Average Sales Price was 103% of original asking price
Condos, Townhomes & Duplexes Sold – 5 (no shift); 12 Average Days on Market; Average Sales Price was $829,032 (down by 6%); Average Sales Price was 101% of original asking price.
Carlsbad home sales in November declined from October. This was due to a drop in single family home sales, since the number of condo, townhome and duplex sales remained the same. The average sales price was higher for single family homes, and lower for condos, townhomes and duplexes. Sales prices in November ranged from $310,000 to $4,512,000.
Days on market was about the same as last month for single family homes, just shy of 2 weeks. Marketing time dropped to 12 days for condos, townhomes, and duplexes.
Compared to November 2020, we saw 31% fewer sales of single family homes. There were 15% fewer condos, townhomes and duplexes sold in November 2021. The average sales price year-over-year was 38% higher for single family homes (median price was 35% higher). Average sales price was 24% higher for condos, townhomes and duplexes (median was 30% higher).
Plenty of home buyers decided quickly to tour homes and submit successful offers. More than half of the homes (61%) went pending in 7 days or less! Making decisions quickly is critical in order to compete successfully in the Carlsbad housing market!
Some Carlsbad buyers successfully negotiated money off original list price, however 74% paid full price or higher! This is a good indicator of buyer competition, and important to keep in mind if you plan to buy a home. A low offer is not likely to be successful except in rare circumstances!
The median sales price for single family detached homes was $1,399,950, up 13% from October. The median was $764,500 for condos, townhomes and duplexes, down 5% from last month.
There was a 26% decrease in the inventory in November (72), not a surprise for the time of year. List prices range from $415,000 to $6,298,000. The Carlsbad inventory remains limited compared to buyer demand, and became even tighter in November!
There is a 19-day supply of condos, townhomes and duplexes. There is only a 12-day supply for single family homes, based on sales over the last 3 months. Carlsbad has a very strong sellers’ market based on supply and demand.
In November 90 new listings entered the market, versus 120 last month, an average of 3 per day. 90 homes went pending (excluding homes that closed), a 14% decline from October. It was still an active month for 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 specific neighborhoods of Carlsbad that interest you. Please reach out to me at (760) 840-1360 if I can help!!