Here’s the Carlsbad Market Report for August. And here’s the Market Report for July 2024 as a comparison.
The Carlsbad real estate market continues to evolve, with changes from July and 1 year ago. Private sales, mobile homes and multi-family housing are not included. Data are from the MLS and believed to be accurate as reported but are not guaranteed.
Media market reports tend to be very general and often out of date. As a result they do not reflect local Carlsbad housing market conditions (read more – How Local IS Local?). Current information, and analysis, about local market conditions will benefit you when you need to make important buying and/or selling decisions.
97 homes sold in Carlsbad in August, 13% fewer sales than last month. (photo is of the Buena Vista Lagoon bordering Oceanside – homes you see are Oceanside).
CARLSBAD MARKET REPORT DETAILS
Single Family Homes Sold – 61 (down 22%). 23 Average Days on Market. The Average Sales Price was $1,916,906 (up 1%). Average Sales Price was 97% of the original asking price.
Condos, Townhomes & Duplexes Sold – 36 (up by 2). 36 Average Days on Market. The Average Sales Price was $1,019,468 (up 5%). Average Sales Price was 96% of the original asking price.
Overall Carlsbad home sales in August decreased from July. There were significantly fewer single family home sales, but 2 more condo, townhome and duplex sales. The average sales price increased slightly for single family homes. The average price also increased for condos, townhomes and duplexes. August sales prices ranged from $499,000 to $3,800,000.
Average days on market was 1 day shorter for single family homes (23 days), and 2 days shorter (36 days) for condos, townhomes, and duplexes.
The same number of single family home sales sold in August 2024 as 1 year ago. 36 condos, townhomes and duplexes sold in August 2024 compared to 37 sales 1 year ago. The average sales price year over year was 5% higher for single family homes in August 2024 (the median price was 14% higher). The average sales price was 6% higher for condos, townhomes and duplexes sold in August 2024 than 1 year ago, while the median price was 9% higher.
Plenty of buyers made quick decisions to tour homes and submit successful offers. 27% of the homes went pending in 7 days or less, about the same as last month. Buyers should still be prepared to make prompt decisions in the current housing market in Carlsbad!
The majority of buyers negotiated their home purchase prices down from list price. However, at the same time 33% paid asking price or more for their homes. Buyer competition continues, and it’s important to remember this in your home search and when planning your offer strategy!
The median sales price for single family detached homes was $1,774,214, compared to $1,807,500 in July. The median price was $952,000 for condos, townhomes and duplexes, compared to $868,000 last month.
Inventory at the end of August (227) was up by 7% from last month (213). List prices range from $399,999 to $8,395,000.
There is a 2.5 month supply of condos, townhomes and duplexes (up from 2.2 months last month), and 2.1 months for single family homes (up from 1.8 months last month) based on the rate of sales over the last 3 months. Carlsbad continues to be a very strong sellers’ housing market.
124 new listings came on the market in August, compared to 114 last month, an increase of 9%. 58 homes went pending (excluding homes that closed in August), compared to 71 in July.
This summary of the Carlsbad housing market is based on data found in the MLS. I can share other details about current activity, including neighborhoods of interest to you (e.g., La Costa, Aviara, Bressi Ranch, Calavera Hills).
Please reach out to me directly or by text at (760) 840-1360 to discuss your personal housing needs, timing, lifestyle, budget, and questions. Together we can create a plan to buy your new Carlsbad home, and/or sell your current Carlsbad home.