Here’s the Carlsbad Market Report for August 2022. Here’s the market report for July as a comparison. Media reports speak in general terms, do not reflect local Carlsbad housing market conditions (read How Local IS Local?).
113 homes sold in Carlsbad in August, 15% more than in July. Here are the details:
Single Family Homes Sold – 61 (down by 5). 22 Average Days on Market. Average Sales Price was $1,726,295 (down 10%). The Average Sales Price was 94% of the original asking price.
Condos, Townhomes & Duplexes Sold – 52 (up 63%). 18 Average Days on Market. The Average Sales Price was $925,319 (down 8%). Average Sales Price was 97% of the original list price.
Overall Carlsbad home sales in August rose significantly from July. There were fewer single family home sales, but substantially more condo, townhome and duplex sales. The average sales price declined for single family homes, as it did for condos, townhomes and duplexes. Sales prices in August ranged from $545,000 to $4,500,000.
The average marketing time was longer for single family homes, but shorter for condos, townhomes, and duplexes.
Looking back to August 2021, there were 40% fewer sales of single family homes. 30% fewer condos, townhomes and duplexes sold in August 2022 than 1 year ago.
The average sales price year over year was 5% higher for single family homes; median price was 6% higher. The average sales price was 5% higher for condos, townhomes and duplexes; the median price was 26% higher.
Some buyers decided quickly to tour homes and submit successful offers. 28% of the homes went pending in 7 days or less. This is fewer than last month, however it’s still important to plan on making quick decisions in Carlsbad’s housing market!
A number of Carlsbad buyers were able to negotiate their home prices. However 36% paid asking price or higher for their homes!
The median sales price for single family detached homes was $1,880,000, 12% lower than July. The median was $882,500 for condos, townhomes and duplexes, 6% higher than last month.
There were 197 homes for sale at the end of August compared to last month’s 225. List prices range from $465,000 to $16,700,000.
The Carlsbad inventory of homes remains limited. There is a 1.6 month supply of condos, townhomes and duplexes, and 1.8 months for single family homes. This is based on the rate of sales over the last 3 months. Thus, based on supply and demand Carlsbad remains a very strong sellers’ housing market.
In August 109 new listings came on the market, compared to 136 in July, perhaps not a surprise given the time of year. Similarly, 80 homes went pending (excluding homes that closed escrow), versus 93 last month.
This overview of the Carlsbad housing market is based on MLS data. I can share more details about current activity for neighborhoods of Carlsbad that interest you (e.g., La Costa, Aviara, Bressi Ranch, Calavera Hills).
Please reach out to me directly or by text (760) 840-1360 to discuss your housing needs, timing, lifestyle, budget, and questions. Then I’ll help you create a plan to buy your new Carlsbad home, and/or sell your current home.