Here’s the February 2024 Market Report for Carlsbad. And here’s the Market Report for January in case you missed it.
The Carlsbad real estate market continues to evolve, with changes from January and 1 year ago. Private sales, mobile homes and multi-family housing are not included. The statistics are taken from the MLS and believed to be accurate at the time of this report but are not guaranteed).
Media reports speak in generalities and are often not up to date. 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 benefits you when you have important buying and/or selling decisions to make.
83 homes sold in Carlsbad in February, 46% more than in January, and another increase in sales.
CARLSBAD MARKET REPORT DETAILS
Single Family Homes Sold – 54 (up 42%). 22 Average Days on Market. The Average Sales Price was $1,980,324 (up 13%). Average Sales Price was 99% of the original asking price.
Condos, Townhomes & Duplexes Sold – 29 (up 53%). 25 Average Days on Market. The Average Sales Price was $959,981 (down 5%). The Average Sales Price was 100% of the original asking price.
Overall Carlsbad home sales in February improved significantly from last month. There were markedly more single family home sales, and substantially more condo, townhome and duplex sales. The average sales price was higher for single family homes. In contrast, the average price was down modestly for condos, townhomes and duplexes. February sales prices ranged from $649,450 to $4,850,000.
42% of the sales were cash buyers.
The average marketing time was shorter for single family homes, as it also was for condos, townhomes, and duplexes.
There were 80% more single family home sales than in February 2023. And there were 26% more condos, townhomes and duplexes sold in February 2024 than in 2023. The average sales price year over year was 28% higher for single family homes in February 2024; the median price was 30% higher. In contrast, the average sales price was 3% lower for condos, townhomes and duplexes (median price was 4% lower) sold in February 2024 than 1 year ago.
A number of home buyers made quick decisions to tour homes and submit successful offers. 41% of the homes went pending in 7 days or less, up slightly from last month. Thus buyers should be prepared to make prompt decisions in Carlsbad’s housing market to be successful!
While some buyers negotiated their home prices, 63% paid asking price or more for their homes. Buyer competition continues, and it’s important to remember this when planning an offer strategy!
The median sales price for single family detached homes was $1,800,000, compared to $1,675,500 in January, and was $850,000 for condos, townhomes and duplexes, down 2% from last month.
Inventory at the end of February (107) was down 9% from last month (117). List prices range from $399,999 to $9,950,000.
There is a 1.7 month supply of condos, townhomes and duplexes (down from 2 months last month). There is a supply of 1.7 months for single family homes (down from 1.8 months last month). This is based on the rate of sales over the last 3 months. As a result, Carlsbad is still a very strong sellers’ housing market overall.
86 new listings came on the market in February, compared to 96 last month. 71 homes went pending (excluding homes that closed in February), versus 59 in January. It was a busy month for Carlsbad buyers and sellers.
This overview of the Carlsbad housing market is based on data in the MLS. I can share other details regarding current activity, including Carlsbad neighborhoods that are of interest such as La Costa, Aviara, Bressi Ranch and Calavera Hills.
Please reach out to me directly or by text at (760) 840-1360 to talk about your personal housing needs, timing, lifestyle, budget, and questions. Together we can strategize how to buy your new Carlsbad home, and/or sell your current Carlsbad home.