Here’s the Carlsbad Market Report for February 2023. The Carlsbad real estate market continues to evolve, with changes from January and 1 year ago. And here’s the Carlsbad market report for January as a comparison.
These statistics do not include private sales, mobile homes or multi-family housing. Information is from the MLS and believed to be accurate when reported but is not guaranteed.
Media reports speak in general terms and are often outdated. Thus they do not reflect local Carlsbad housing market conditions (learn more – How Local IS Local?).
WHAT HAPPENED IN THE CARLSBAD MARKET?
52 homes sold in Carlsbad in February, down 16% from January. Here are the specifics.
Single Family Homes Sold – 30 (down by 4). 29 Average Days on Market. The Average Sales Price was $1,551,650 (down 4%). Average Sales Price was 97% of the original asking price.
Condos, Townhomes & Duplexes Sold – 22 (down by 6). 19 Average Days on Market. The Average Sales Price was $987,287 (down 13%). The Average Sales Price was 98% of the original asking price.
Overall Carlsbad home sales in February declined from January. There were fewer single family home sales, and fewer condo, townhome and duplex sales. The average sales price dropped for single family homes. The average sales price was also lower for condos, townhomes and duplexes. February sales prices ranged from $645,000 to $2,900,000.
The average marketing time was shorter for single family homes, and for condos, townhomes, and duplexes.
Looking back at February 2022, there were 46% fewer sales of single family homes in 2023. Similarly 35% fewer condos, townhomes and duplexes sold in February 2023. The average sales price year over year was 5% lower for single family home – the median price was 9% lower. In contrast the average sales price was 13% higher for condos, townhomes and duplexes (median price was 5% higher) in February 2023.
40% of the homes were pending in 7 days or less, more than in January. Plenty of buyers are still making fairly quick decisions about showings and making offers.
The majority of Carlsbad buyers were able to negotiate their home prices down from asking price. However, 2 out of 5 paid list price or higher for their homes, more than in January. Buyer competition continues, and it’s essential to keep this in mind when planning an offer!
The median sales price for single family detached homes was $1,384,000, 8% lower than January. The median was $867,500 for condos, townhomes and duplexes, 11% higher than last month.
Inventory at the end of February (83) was down 13% from last month (95). List prices range from $399,000 to $13,200,000.
There is a 1.9 month supply of condos, townhomes and duplexes (compared to 2 months last month). There is a 1.4 month supply of single family homes (the same as last month). This is based on the rate of sales over the last 3 months. Thus Carlsbad remains a very strong sellers’ housing market as we head into the Spring market.
75 new listings hit the market in February, versus 72 last month. 70 homes went pending (excluding homes that closed in February), compared to 52 in January. February was a fairly busy month for buyers and sellers.
This overview of the Carlsbad housing market is based on data in the MLS. I can share more details with regard to current activity, as well as for neighborhoods of Carlsbad that are of interest, such as La Costa, Aviara, Bressi Ranch or Calavera Hills.
Please contact me directly or via text at (760) 840-1360 to discuss your housing needs, timing, lifestyle, budget, and questions. We can work together to plan an effective strategy to buy your new Carlsbad home, and/or sell your current Carlsbad home.