Here’s the Carlsbad Market Report for July 2023. And here’s the Market Report for June 2023 for comparison in case you missed it.
The Carlsbad real estate market continues to shift, with changes from June and 1 year ago. Private sales, mobile homes and multi-family housing are excluded from this report. The numbers are from the MLS and believed to be accurate when reported but are not guaranteed.
Media reports speak in general terms. As a result they do not reflect local housing market conditions in Carlsbad (learn 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. (photo is of the July 2023 Carlsbad Art Wall painted by art wall founder, Bryan Snyder).
105 homes sold in Carlsbad in July, 18% more than in June. Here are the specifics.
CARLSBAD MARKET REPORT DETAILS
Single Family Homes Sold – 75 (up 27%). 17 Average Days on Market. The Average Sales Price was $1,740,913 (down 5%). Average Sales Price was 99% of original asking price.
Condos, Townhomes & Duplexes Sold – 30 (no change). 24 Average Days on Market. The Average Sales Price was $984,866 (up 2%). Average Sales Price was 99% of original asking price.
Overall Carlsbad home sales in July increased from June. There were substantially more single family homes sold, but the same number of condo, townhome and duplex sales. The average sales price decreased for single family homes, but was slightly higher for condos, townhomes and duplexes. July sales prices ranged from $575,000 to $4,100,000.
The average marketing time was longer for single family homes, and for condos, townhomes, and duplexes.
Compared to July 2022, there were 12% more sales of single family homes. In contrast, 2 fewer condos, townhomes and duplexes sold in July 2023 than 1 year ago. The average sales price year over year was 9% lower for single family homes (median price was 16% lower). The average was 2% lower for condos, townhomes and duplexes (median price was 3% higher) in July 2023.
41% of the homes went pending in 7 days or less, fewer than last month. As a result buyers should still be prepared to make prompt decisions in Carlsbad’s housing market!
A number of Carlsbad buyers negotiated their home prices down from list price. However almost half (48%) paid asking price or higher for their homes. Buyer competition continues, and it’s important to remember this when planning your offer strategy!
The median sales price for single family detached homes was $1,590,000, down 7% from June. The median was $859,250 for condos, townhomes and duplexes, which was also 7% lower than last month.
Inventory at the end of July (153) was up 3% from last month (148). List prices range from $549,000 to $25,000,000.
There is a 1.6 month supply of condos, townhomes and duplexes (the same as last month). There is a 1.6 month supply for single family homes (down from 1.7 months last month). This is based on the rate of sales over the last 3 months. As a result Carlsbad continues to be a very strong sellers’ housing market.
108 new listings came on the market in July, compared to 128 last month. 70 homes went pending (excluding homes that closed in July), compared to 83 in June.
This overview of the Carlsbad housing market is based on data in the MLS. I can share details for neighborhoods of Carlsbad of interest, such as La Costa, Aviara, Bressi Ranch or Calavera Hills.
Please reach out to me directly or by text at (760) 840-1360 to discuss your housing needs, timing, lifestyle, budget, and questions. Together we can create an effective strategy to buy your new Carlsbad home, and/or sell your current Carlsbad home.