Here’s the Carlsbad Market Report for July 2024. And here’s the Market Report for June as a comparison.
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 not included (the numbers are taken from the MLS and believed to be accurate as reported but are not guaranteed).
Media market reports tend to be general. As a result they do not reflect 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 you need to make important buying and/or selling decisions.
112 homes sold in Carlsbad in July, 23% more sales than in June.
CARLSBAD MARKET REPORT DETAILS
Single Family Homes Sold – 78 (up 81%). 24 Average Days on Market. The Average Sales Price was $1,890,896 (down 1%). Average Sales Price was 96% of the original asking price.
Condos, Townhomes & Duplexes Sold – 34 (down 29%). 38 Average Days on Market. The Average Sales Price was $969,817 (down 26%). Average Sales Price was 97% of the original asking price.
Overall Carlsbad home sales in July increased substantially from June. There were more single family home sales, but fewer condo, townhome and duplex sales. The average sales price decreased slightly for single family homes. The average price also declined for condos, townhomes and duplexes. July sales prices ranged from $425,000 to $3,686,020.
The average marketing time was longer for single family homes, as well as for condos, townhomes, and duplexes.
There were 2 more single family home sales than in July 2023. Similarly, there were 3 more condos, townhomes and duplexes sold in July 2024 than 1 year ago. The average sales price year over year was 9% higher for single family homes in July 2024. The median sales price was 13% higher. The average sales price was 3% lower for condos, townhomes and duplexes sold in July 2024 than 1 year ago. The median sales price was 1% higher.
A number of buyers made prompt decisions to tour listings and submit successful offers in July. 26% of the homes were pending in 7 days or less, fewer than last month. It’s still important for buyers to be ready to make quick decisions in Carlsbad’s current housing market!
The majority of buyers negotiated their home purchase prices down from asking price. However, at the same time 41% paid list price or higher for their homes. Buyer competition continues, and it’s important to remember this in your home search and when planning your offer strategy!
The median sales price for single family detached homes was $1,807,500, versus $1,710,000 in June. The median sales price was $868,000 for condos, townhomes and duplexes, compared to $1,107,325 last month.
Inventory at the end of July (213) was down from last month’s 228. List prices range from $399,999 to $11,550,000 (the most expensive listing, an oceanfront estate, was temporarily withdrawn on 8/1 for renovations).
There is a 2.2 month supply of condos, townhomes and duplexes, down from 2.3 months last month. There is a supply of 1.8 months for single family homes, which is down from 2.1 months in June. This is based on the rate of sales over the last 3 months. Thus, Carlsbad remains a very strong sellers’ housing market.
114 new listings came on the market in July, compared to 144 last month, down 21%. 71 homes went pending (excluding homes that closed in July), compared to 72 in June.
This summary of the Carlsbad housing market is based on data in the MLS. I can share other details about housing activity, including neighborhoods of interest such as La Costa, Aviara, Bressi Ranch, or Calavera Hills.
Please reach out to me at (760) 840-1360 to discuss your personal housing needs, timing, lifestyle, budget, and questions. Together we’ll create a plan to buy your new Carlsbad home, and/or sell your current Carlsbad home.