Here’s the July 2022 Carlsbad Market Report. Check out the June market report for Carlsbad as a comparison.
98 homes sold in July, 23% fewer than in June. Here are the specifics.
Single Family Homes Sold – 66 (down 17%). 15 Average Days on Market. Average Sales Price was $1,910,640 (up 1%). The Average Sales Price was 99% of original asking price.
Condos, Townhomes & Duplexes Sold – 32 (down 32%). 26 Average Days on Market. The Average Sales Price was $1,006,418 (up by 2%). Average Sales Price was 99% of original asking price.
Overall Carlsbad home sales in July declined significantly from June, and for single family home sales, but in particular for condo, townhome and duplex sales. The average sales price rose slightly for single family homes, as it did for condos, townhomes and duplexes. Sales prices in July ranged from $625,000 to $3,450,000.
The average marketing time was a couple days longer for single family homes. Marketing time was significantly longer for condos, townhomes, and duplexes, reaching almost 1 month.
Compared to July 2021, there were 45% fewer sales of single family homes in 2022. 52% fewer condos, townhomes and duplexes sold in July 2022 than 1 year ago. The average sales price year over year was 30% higher for single family homes (median price was 39% higher). Average sales price was 14% higher for condos, townhomes and duplexes (median price was 16% higher) than 1 year ago.
Many buyers decided quickly to tour homes and submit successful offers. 41% of the homes went pending in 7 days or less. While this is less than last month it’s still important to make quick decisions in Carlsbad’s housing market!
A fair number of Carlsbad buyers were able to negotiate their purchase prices. At the same time 40% paid over asking price for their homes, fewer than in June! This is important to remember for your offer strategy if you want to compete successfully!
The median sales price for single family detached homes was $1,880,000, up 9% from June. Median sales price for condos, townhomes and duplexes was $834,500, down 4% from last month.
Inventory at the beginning of July (225) was less than last month (231). List prices range from $465,000 to $18,700,000. The Carlsbad inventory remains limited given the buyer demand and did not improve in July. This is not a big surprise given the time of year.
There is a 1.6 month supply of condos, townhomes, and 2.1 months for single family homes. This is based on the rate of sales over the last 3 months. Thus, Carlsbad remains a very strong sellers’ housing market.
In July 136 new listings came on the market, versus 175 last month. In contrast 93 homes went pending (excluding homes that closed), 31% more than in June.
This overview of the Carlsbad housing market is based on MLS data. I can share more details, including for Carlsbad neighborhoods that interest you (e.g., La Costa, Aviara, Bressi Ranch, Calavera Hills).
Please contact me directly or via text at (760) 840-1360. Then we can discuss your housing needs, timing, lifestyle and budget, and questions. Together we can create an effective strategy to buy your new Carlsbad home, and/or sell your current Carlsbad home.