Here’s the Carlsbad Market Report for March 2023. And here’s a link to the market report for February as a comparison.
The Carlsbad real estate market continues to evolve, with changes from February 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 when reported but are not guaranteed).
Media reports speak in generalities, and so they do not reflect local Carlsbad housing market conditions. You can learn more about the importance of location in this article, How Local IS Local?.
114 homes sold in Carlsbad in March, which was more than double the number of sales in February. Here are the details:
Single Family Homes Sold – 65 (up 167%). 26 Average Days on Market. The Average Sales Price was $1,788,811 (up 15%). Average Sales Price was 98% of original asking price.
Condos, Townhomes & Duplexes Sold – 49 (up 123%). 29 Average Days on Market. The Average Sales Price was $969,887 (down 2%). Average Sales Price was 100% of original asking price.
Carlsbad home sales in March were significantly higher than in February. There were over twice as many single family home sales, and more than twice as many condo, townhome and duplex sales.
The average sales price was higher for single family homes, but was lower for condos, townhomes and duplexes. March sales prices ranged from $455,000 to $5,150,000.
The average marketing time was shorter than last month for single family homes, but longer for condos, townhomes, and duplexes.
Looking back at March 2022, there were 7% more sales of single family homes in 2023. And 7% more condos, townhomes and duplexes sold in March 2023 than 1 year ago. The average sales price year over year was 12% lower for single family homes (median price was 13% lower). The average sales price was 6% higher for condos, townhomes and duplexes (but median price was 3% lower) in March 2023.
A number of buyers made prompt decisions to tour homes and submit successful offers. As a result 44% of the homes went pending in 7 days or less, slightly more than in February. It’s important that buyers be prepared to make quick decisions in Carlsbad’s housing market!
About half of the Carlsbad buyers negotiated their home prices down from list price. Slightly over half (51%) paid asking price or higher for their homes, more than in February. Buyer competition continues, so keep this in mind when planning your offer!
The median sales price for single family detached homes was $1,384,000, 19% higher than in February. The median was $799,000 for condos, townhomes and duplexes, which is down 8% from last month.
There were 77 homes for sale at the end of March, a decrease by 7% from last month (83). List prices range from $524,900 to $13,500,000.
There is a 24 day supply of condos, townhomes and duplexes (down from 1.9 months last month). There is a 1.2 month supply for single family homes (down from 1.4 months last month). This is based on the rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ housing market.
86 homes were listed on the market in March, versus 75 last month. 95 homes went pending (excluding homes that closed in March), compared to 70 in February. It was busy month for buyers and sellers.
This overview of the Carlsbad housing market is based on data in the MLS. I can share more details regarding current activity, including for specific neighborhoods of Carlsbad such as La Costa, Aviara, Bressi Ranch or Calavera Hills.
Please reach out to me directly or via text at (760) 840-1360 to discuss your housing needs, timing, lifestyle, budget, and questions. Together we can plan an effective strategy to buy your new Carlsbad home, and/or sell your current Carlsbad home.