Here’s the Carlsbad Market Report for January 2024. And here’s the market report for December 2023 as a comparison.
The Carlsbad real estate market continues to change, with shifts from December and 1 year ago. Private sales, mobile homes and multi-family housing are not included. The date were derived from the MLS and believed accurate when reported but not guaranteed.
Unfortunately, media housing market reports speak in general terms and are typically outdated. As a result they do not reflect current local Carlsbad housing market conditions (read more – How Local IS Local?). Up-to-date information and analysis about local market conditions will benefit you when making important buying and/or selling decisions.
57 homes sold in January, 24% more sales than in December, a trend typically seen after the holidays.
CARLSBAD MARKET REPORT DETAILS
Single Family Homes Sold – 38 (up 27%). 28 Average Days on Market. The Average Sales Price was $1,756,973 (down 21%). Average Sales Price was 100% of original asking price.
Condos, Townhomes & Duplexes Sold – 19 (up by 3). 31 Average Days on Market. The Average Sales Price was $1,012,621 (down 3%). Average Sales Price was 98% of original asking price.
Overall Carlsbad home sales in January increased substantially from last month. There were more single family home sales, and several more condo, townhome and duplex sales. The average sales price declined for single family homes (the average price was substantially higher last month in part due to 1 home sale at $10,750,000). The average was also modestly lower for condos, townhomes and duplexes. January sales prices ranged from $579,000 to $3,025,000.
The average marketing time was about the same for single family homes, and was 1 week shorter for condos, townhomes, and duplexes.
There were 4 more single family home sales than in January last year. On the other hand, 10 more condos, townhomes and duplexes sold in January 2023 than in 2024. The average sales price year over year was 8% higher for single family homes than in 2023 (median price was 7% higher). In contrast, the average sales price was 10% lower for condos, townhomes and duplexes (median price was 17% lower) sold in January 2024.
Some home buyers made prompt decisions to tour homes and submit successful offers. 38% of the homes went pending in 1 week or less. Savvy buyers should be prepared not to delay decision-making in Carlsbad’s current housing market!
More than half the buyers negotiated their home prices down from list price. On the other hand, 42% paid asking price or more for their homes. Buyer competition continues, and buyers should keep this in mind when planning an offer strategy!
The median sales price for single family detached homes was $1,675,500, versus $1,750,000 in December. The median price was $865,000 for condos, townhomes and duplexes, which is 2% lower than last month.
There were 117 homes for sale at the end of January which is an increase of 18% from last month (99). List prices range from $515,000 to $9,995,000.
There is a 2 month supply of condos, townhomes and duplexes (up from 1.6 months last month). There is a supply of 1.8 months for single family homes (up from 1.6 months last month). This is based on the rate of sales over the last 3 months. Carlsbad is still a very strong sellers’ housing market.
96 new listings hit the market in January, versus 38 last month. 59 homes went pending (excluding homes that closed in January), versus 35 in December. Not surprisingly it was a busier month for Carlsbad buyers and sellers following the holidays.
This overview of the Carlsbad housing market is based on data from the MLS. I can provide other details regarding current activity, including for Carlsbad neighborhoods that are of interest (e.g., La Costa, Aviara, Bressi Ranch or Calavera Hills).
Please reach out directly or by text at (760) 840-1360 to discuss your specific housing needs, timing, lifestyle, budget, and any questions. Together we’ll create a plan to buy your new Carlsbad home, and/or sell your current Carlsbad home.