Here’s the Carlsbad Market Report for March 2022 (see February Market Report for a comparison). There were 104 homes sold in Carlsbad in March, 17% more than in February, and another increase! Here are the details.
Single Family Homes Sold – 59 (up by 9%). The Average Days on Market was 11 and The Average Sales Price was $2,023,695 (up 23%). Average Sales Price was 112% of original asking price with 1 home selling at 138% of list price.
Condos, Townhomes & Duplexes Sold – 45 (up by 32%). The Average Days on Market was 16 and the Average Sales Price was $917,989 (up by 5%). Average Sales Price was 109% of original asking price.
Carlsbad home sales in March increased significantly from last month. There were more single family home sales, and substantially more condo, townhome and duplex sales. The average sales price rose for single family homes, and for condos, townhomes and duplexes. Sales prices in March ranged from $736,000 to $4,200,000.
Marketing time dropped slightly for single family homes but was a couple of days longer for condos, townhomes, and duplexes.
Compared to March 2021, there were 30% fewer sales of single family homes and 26% fewer condos, townhomes and duplexes sold in March 2022. The average sales price year over year was 24% higher for single family homes (median price was 42% higher). The average sales price was 25% higher for condos, townhomes and duplexes (median price was 31% higher).
Some buyers made quick decisions about touring homes and making offers. At the same time more than half the homes (72%) went pending in 7 days or less! Buyers should be prepared to make quick decisions for success in the Carlsbad housing market!
While some Carlsbad buyers negotiated their home prices, the majority of them, 86%, paid full price or more! This is a strong message about the competition, and important to keep in mind as a buyer!
The median sales price for single family detached homes was $1,540,000, up by 23% from February. The median sales price was $833,000 for condos, townhomes and duplexes, down 5% from last month.
Inventory at the beginning of March (72) was 13% higher than that of February, more good news for buyers. List prices range from $465,000 to $7,999,999. While the Carlsbad inventory remains limited relative to demand, it showed improvement in March.
There is a 27-day supply of condos, townhomes and duplexes. The supply is 22 days for single family homes, based on the rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ housing market.
In March 141 new listings hit the market, an average of 4+ per day. This compares favorably to 101 last month, and was good news for buyers.
Similarly, 108 homes went pending (excluding homes that closed), 42% more than last month. March was a busy month for Carlsbad housing!
This summary of the Carlsbad real estate market is based on information provided by the MLS. I’m happy to provide more details with regard to current activity, as well as for specific Carlsbad neighborhoods.
Please reach out directly or by text at (760) 840-1360 to discuss your housing needs, timing, lifestyle, budget, and questions. We can then create a plan to buy your new home, and/or sell your current Carlsbad home.
If you are considering selling, check out this article: Planning to Sell Your Home? Where Will You Go?