Carlsbad Market Report March 2024

Oceanside Market Report March 2024

Here’s the Market Report for Carlsbad for March 2024. And here is the Market Report for February as a comparison.

The Carlsbad real estate market continues to evolve, with shifts 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 market reports are written in general terms. Thus, they do not reflect local Carlsbad housing market conditions (you may want to read more – How Local IS Local?). Current information, and analysis, about local market conditions will benefit you when you must make important buying and/or selling decisions.

96 homes sold in Carlsbad in March, 16% more sales than last month and another increase in sales.

Carlsbad Flower Fields

CARLSBAD MARKET REPORT DETAILS

Single Family Homes Sold – 57 (up by 3). 21 Average Days on Market. The Average Sales Price was $1,936,930 (down 2%). Average Sales Price was 100% of the original asking price.

Condos, Townhomes & Duplexes Sold – 39 (up 34%). 25 Average Days on Market. The Average Sales Price was $1,199,990 (up 25%). Average Sales Price was 99% of the original asking price.

Carlsbad home sales in March increased significantly from February. While there were 3 more single family home sales, there were substantially more condo, townhome and duplex sales. The average sales price decreased slightly for single family homes. However, in contrast the average sales price rose substantially for condos, townhomes and duplexes. March sales prices ranged from $470,000 to $7,450,000.

33 of the transactions were cash buyers (34%).

Average marketing time was 1 day shorter for single family homes, but was the same for condos, townhomes, and duplexes at 25 days.

14% fewer single family homes sold than in March 2023. And 20% fewer condos, townhomes and duplexes sold in March 2024 than 1 year ago. The average sales price year over year was 7% higher for single family homes in March 2024 (the median price was 7% higher). Similarly, the average sales price was 24% higher for condos, townhomes and duplexes sold in March 2024 than 1 year ago (median price was 7% higher).

Plenty of buyers made prompt decisions about touring homes and submitting successful offers, with 44% of the homes going pending in 7 days or less. Thus home buyers should be ready to make prompt decisions in Carlsbad’s existing housing market!

Some buyers were able to negotiate their home purchase prices down from list price. But at the same time, the majority (63%) paid asking price or higher. There is still plenty of buyer competition, and it’s important to remember this when planning an offer strategy!

The median sales price for single family detached homes was $1,775,000, down slightly from $1,800,000 in February. The median price was $855,000 for condos, townhomes and duplexes, about the same as last month ($850,000).

Inventory at the end of March (119) was up 11% from last month (107). List prices range from $399,999 to $9,995,000.

There is a 1.5 month supply of condos, townhomes and duplexes (down from 1.7 months last month). There is a 1.5 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. Thus, Carlsbad continues to be a very strong sellers’ housing market.

107 new listings came on the market in March, up 24% from last month (86). 71 homes went pending (excluding homes that closed in March), about the same as in February (70). It was a busy month overall for Carlsbad buyers and sellers.

This overview of the Carlsbad housing market is based on data in the MLS. I can share other details regarding current activity, including specific neighborhoods of interest (e.g., La Costa, Aviara, Bressi Ranch, Calavera Hills).

Please reach out to me directly or via text at (760) 840-1360 to discuss your specific housing needs, timing, lifestyle, budget, and questions. We’ll work together to create a strategy to buy your new Carlsbad home, and/or sell your current home if that is your plan.