Here’s the Carlsbad Market Report for December 2022, with changes from November and 1 year ago. These numbers do not include private sales, mobile homes or multi-family housing (the numbers are taken from the MLS and believed accurate when reported but not guaranteed). Here’s the Carlsbad Market Report for November in case you missed it.
Media reports and headlines speak in general terms. Thus they do not reflect local Carlsbad housing market conditions (read more – How Local IS Local?). Current information, and analysis, about local market conditions benefits you when you need to make buying and/or selling decisions.
43 homes sold in December, a substantial decline by 41% from November. Here are the specifics.
Single Family Homes Sold – 31 (down 37%). 19 Average Days on Market. The Average Sales Price was $1,702,838 (up 8%). Average Sales Price was 96% of original asking price.
Condos, Townhomes & Duplexes Sold – 12 (down 50%). 38 Average Days on Market. The Average Sales Price was $837,458 (down 3%). Average Sales Price was 95% of original asking price.
Overall Carlsbad home sales in December declined from November following last month’s increase from October. There were fewer single family home sales, and fewer condo, townhome and duplex sales.
The average sales price increased for single family homes, but decreased modestly for condos, townhomes and duplexes. December sales prices ranged from $675,000 to $6,450,000.
The average marketing time was shorter for single family homes. Average marketing time was longer for condos, townhomes, and duplexes than last month.
Looking back to December 2021, there were 58% fewer sales of single family homes in 2022. Similarly, 79% fewer condos, townhomes and duplexes sold in December 2022.
The average sales price year over year was 8% higher for single family homes, while the median price was the same. In contrast, the average sales price was 14% lower for condos, townhomes and duplexes (median price was 3% lower) in December 2022.
Buyers are still making fairly quick decisions to tour homes and submit successful offers. 35% of the homes were pending in 7 days or less, slightly more than in November. As a result buyers should continue to plan on making prompt decisions in Carlsbad’s housing market to be competitive!
The majority of Carlsbad buyers negotiated their home prices down from list price. At the same time 30% paid asking price or higher for their homes, more than last month. There is still competition, and it’s important to remember this when planning your offer!
The median sales price for single family detached homes was $1,500,000, 2% lower than November. On the other hand median price for condos, townhomes and duplexes was $785,000, 3% higher than last month.
Inventory at the end of December (97) was down 29% from November (137), perhaps not a surprise given the holidays. List prices range from $420,000 to $12,950,000.
There is a 1.9 month supply of condos, townhomes and duplexes (up from 1.5 months last month). The supply for single family homes is 1.3 months (down from 1.8 months last month). This is based on the rate of sales over the last 3 months. Carlsbad continues to be a very strong sellers’ housing market based on supply
40 new listings came on the market in December, compared to 76 last month. In contrast, 41 homes went pending (excluding homes that closed in December), versus 36 in November.
This overview of the Carlsbad housing market is based on data in the MLS. I can share details about current activity, including for areas of Carlsbad that interest you, such as La Costa, Aviara, Bressi Ranch and Calavera Hills.
Please reach out directly or via text at (760) 840-1360 to discuss your housing needs, timing, lifestyle and budget. I’m happy to answer any questions, too. Together we’ll plan an effective strategy to buy your new Carlsbad home, and/or sell your current home.