Here’s the Carlsbad Market Report for August 2023. And here’s the market report for July as a comparison in case you missed it.
The Carlsbad real estate market continues to shift, with changes from July as well as 1 year ago. Private sales, mobile homes and multi-family housing are not included. The data are taken from the MLS and believed to be accurate when reported but are not guaranteed.
Media reports speak in general terms. As a result they do not reflect the local Carlsbad housing market conditions (read more – How Local IS Local?). Current information, and analysis, about local market conditions in a Market Report will benefit you when making important buying and/or selling decisions. (That’s me in the art chair in the Village.)
94 homes sold in Carlsbad in August, 10% fewer sales than in July.
CARLSBAD MARKET REPORT DETAILS
Single Family Homes Sold – 57 (down 24%). 15 Average Days on Market. The Average Sales Price was $1,815,352 (up 4%). Average Sales Price was 100% of the original asking price.
Condos, Townhomes & Duplexes Sold – 37 (up 23%). 17 Average Days on Market. The Average Sales Price was $958,784 (down 3%). Average Sales Price was 99% of the original asking price.
Overall Carlsbad home sales in August declined from July levels. There were significantly fewer single family home sales, but more condo, townhome and duplex sales. The average sales price increased for single family homes, but was lower for condos, townhomes and duplexes. Sales prices ranged from $605,000 to $10,700,000.
The average marketing time was shorter for single family homes, as it was for condos, townhomes, and duplexes.
Looking back to August 2022, there were 12% fewer sales of single family homes in 2023. Similarly, there were 29% fewer condos, townhomes and duplexes sold in August 2023 than in 2022. The average sales price year over year was 7% higher for single family homes (median price was 6% lower). The average sales price was 4% higher for condos, townhomes and duplexes in August 2023 while the median price was 1% lower.
Plenty of buyers made quick decisions to tour homes and submit successful offers. 47% of the homes were pending in 7 days or less. As a result, buyers should be prepared to make decisions quickly in Carlsbad’s housing market!
Some Carlsbad buyers negotiated their home prices down from asking price. However, the majority (65%) paid list price or higher for their homes. Buyer competition continues, and it’s important to keep this in mind when planning your offer strategy!
The median sales price for single family detached homes was $1,550,000, 3% lower than July. The median price was $875,000 for condos, townhomes and duplexes, 2% higher than last month.
Inventory at the end of August (149) was down slightly from last month (153). List prices range from $578,000 to $25,000,000 for an oceanfront estate.
There is a 1.6 month supply of condos, townhomes and duplexes, the same as last month. There is a 1.5 month supply for single family homes (down from 1.6 months last month). This is based on the rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ housing market.
96 new listings came on the market in August, compared to 108 last month. 67 homes went pending (excluding homes that closed in August), versus 70 in July. It was a busy month for Carlsbad sellers and buyers.
This overview of the Carlsbad housing market is based on data in the MLS. I can share more details for Carlsbad neighborhoods that interest you (e.g., La Costa, Aviara, Bressi Ranch, Calavera Hills).
Please reach out directly or by text at (760) 840-1360 to discuss your housing needs, timing, lifestyle, budget, and questions. Together we’ll create an effective strategy to buy your new Carlsbad home, and/or sell your current Carlsbad home.