The Carlsbad Market Report for December shows a number of changes from last month and 1 year ago. 124 homes sold in December, 6% fewer than last month November. Here are the specifics.
Single Family Homes Sold – 72 (down 12%); 15 Average Days on Market. The Average Sales Price was $1,600,678 (down 6%). The Average Sales Price was 103% of original asking price
Condos, Townhomes & Duplexes Sold – 52 (up by 2); 17 Average Days on Market. The Average Sales Price was $970,809 (up 17%). The Average Sales Price was 104% of original asking price.
Overall Carlsbad home sales decreased from November. There was a drop in single family home sales but 2 more condo, townhome and duplex sales. The average sales price was lower for single family homes, but higher for condos, townhomes and duplexes.
December sales prices ranged from $490,100 to $4,250,000. Marketing time was 2 days longer for single family homes, and 5 days longer for condos, townhomes, and duplexes.
Compared to December 2020, there were 26% fewer sales of single family homes and 29% fewer condos, townhomes and duplexes sold in December 2021. The average sales price year over year was 32% higher for single family homes, and 30% higher for condos, townhomes and duplexes in December 2021.
The majority of the homes (77%) went pending in 7 days or less. Buyers clearly made decisions quickly to tour homes they liked, and submit successful offers! Quick decisions are important if you hope to compete successfully in the Carlsbad housing market!
A number of Carlsbad buyers were able to negotiate money off the original list price. However, 50% of them paid full price or more! This is a good indication of the buyer competition, and important to keep in mind if you plan to buy. A low offer will not likely be successful in most circumstances!
Median sales prices rose in December. The median sales price for single family detached homes was $1,500,000, 7% higher than November. The median was $764,500 for condos, townhomes and duplexes, up 5% from last month.
Inventory dropped significantly from November to only 39 homes, a 46% decrease. This was not a big surprise given the holidays. List prices range from $610,000 to $8,000,000. The supply of homes remains very limited, compared to buyer demand, and became even tighter in December.
There is only a 6-day supply of single family homes, based on the rate of sales over the last 3 months. There is a 13-day supply of condos, townhomes and duplexes (compared to 19 days last month). Carlsbad is a very strong sellers’ market based on current supply and demand.
48 properties were listed in December, compared to 90 last month. The number of homes going pending (excluding homes that closed) also declined to 57 (down 37%) from November.
This overview of the Carlsbad real estate market is based on information provided by the MLS.
Please feel free to contact me at (760) 840-1360 to discuss your housing needs, timing, lifestyle and budget, and any questions. Then we can create a plan to buy your new Carlsbad home, and/or sell your current home.