Here’s the Carlsbad Market Report for April 2022, with several changes from last month and 1 year ago. And here’s the market report for March 2022 in case you missed it.
127 homes sold in April, 22% more than in March, the 2nd increase! Here are the details:
Single Family Homes Sold – 72 (up by 22%). The Average Days on Market was 9. Average Sales Price was $2,084,480 (up 3%). The Average Sales Price was 112% of original asking price. 1 home sold for $700K over list price.
Condos, Townhomes & Duplexes Sold – 55 (up by 24%). The Average Days on Market was 15. Average Sales Price was $958,635 (up by 4%). The Average Sales Price was 107% of original asking price.
Overall Carlsbad home sales in April increased substantially from March. There were more single family home sales, and more condo, townhome and duplex sales. The average sales price was modestly higher for single family homes. The same was true for condos, townhomes and duplexes.
Sales prices in April ranged from $420,000 to $5,810,000. Marketing time was 2 days shorter for single family homes, and 1 day shorter for condos, townhomes, and duplexes.
There were 45% fewer sales of single family homes than 1 year ago. 27% fewer condos, townhomes and duplexes sold in April 2022 than in 2021. The average sales price was 37% higher for single family homes; the median price was 38% higher. Average sales price was 24% higher in 2022 for condos, townhomes and duplexes, while the median price was 32% higher.
Many buyers decided quickly to tour homes and submitted successful offers. As a result over half the homes (68%) went pending in 7 days or less! Thus, home buyers must be prepared to move quickly to compete successfully in our housing market!
While some Carlsbad buyers negotiated the original list price, 4 out of 5 buyers paid over asking price! This is a result of competition, and important to keep in mind as a buyer!
The median sales price for single family detached homes rose 2% from March to $1,942,000. The median price was $901,000 for condos, townhomes and duplexes, up 8% from last month.
Inventory at the beginning of April (102 listings) was 42% higher than in March. This is good news. List prices are from $465,000 to $8,799,999. The Carlsbad inventory remains limited relative to buyer demand, but showed improvement in April.
There is a 24-day supply of condos, townhomes and duplexes, and 1 month for single family homes. This is based on the rate of sales over the last 3 months. The housing market remains very strong for sellers in Carlsbad.
144 new listings came on the market in April vs. 141 in March. In contrast, 95 homes went pending, excluding homes that closed, down 12% from April. It was a busy month for buying and selling!
This overview of the Carlsbad real estate market is based on data in the MLS. I can provide more details with regard to current activity, as well as for neighborhoods of Carlsbad that interest you.
Please reach out directly or via text at (760) 840-1360 so we can discuss your housing needs, timing, lifestyle and budget, and questions. We can then create a plan for buying your new Carlsbad home.
If your plans also including selling your home, I can assist with that as well. Here is a helpful article, given the market: Planning to Sell Your Home? Where Will You Go?