Carlsbad Market Report May 2023

Oceanside Market Report August 2023

Here’s the Market Report for Carlsbad for May 2023. And here’s the April 2023 report in case you missed it.

The Carlsbad real estate market continues to shift. There were a number of changes from April and 1 year ago. This report does not include private sales, mobile homes and multi-family housing. The data are taken from the MLS and believed accurate when reported but are not guaranteed.

Since media reports speak in general terms they do not reflect local Carlsbad housing market conditions. You can learn more about this issue here – How Local IS Local?. Up-to-date information, and analysis, about local market conditions benefits you when you need to make important buying and/or selling decisions.

92 homes sold in Carlsbad in May, a 16% increase in sales from April. Here are the details.

Single Family Homes Sold – 55 (up by 3). 11 Average Days on Market. The Average Sales Price was $1,965,553 (up 9%). Average Sales Price was 102% of original asking price.

Condos, Townhomes & Duplexes Sold – 37 (up 37%). 17 Average Days on Market. The Average Sales Price was $1,172,952 (up 33%). Average Sales Price was 99% of original asking price.

Overall Carlsbad home sales in May increased from April. There were several more single family home sales than last month. And substantially more condo, townhome and duplex homes were sold.

The average sales price increased for single family homes in May. The average sale price was significantly higher for condos, townhomes and duplexes. Sales prices in May ranged from $492,000 to $11,475,000.

Average marketing time was a few days longer for single family homes compared to April. Marketing time was a couple days shorter for condos, townhomes, and duplexes.

There were 21% fewer sales of single family homes in May compared to 1 year ago. Similarly, 29% fewer condos, townhomes and duplexes sold in May 2023. The average sales price year over year was 6% higher for single family homes while the median price was 5% lower. Average sales price was 13% higher for condos, townhomes and duplexes in May 2023 while the median price was 6% higher.

Some buyers made quick decisions to tour homes and submit successful offers. 45% of the homes went pending in 7 days or less, more than April. Buyers should still be ready to make prompt decisions in Carlsbad’s housing market!

59% of the Carlsbad buyers paid asking price or higher for their homes in May. It’s important to keep the buyer competition in mind when planning your offer strategy!

The median sales price for single family detached homes was $1,710,000, 24% more than in April. The median price was $925,000 for condos, townhomes and duplexes, 12% higher than last month.

There were 128 homes for sale at the end of May, an improvement by 36% from last month (94). List prices range from $650,000 to $25,000,000 for an oceanfront property.

There is a 1.1 month supply of condos, townhomes and duplexes (compared to 1.2 months last month). The supply is 1.5 months for single family homes (up from 1.1 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.

119 new listings came on the market in May, versus 93 last month. 69 homes went pending (excluding homes that closed in May), an increase from 61 pending in April. May was a busy month for Carlsbad sellers and buyers.

This overview of the Carlsbad housing market is based on data in the MLS. I can share more details for neighborhoods of Carlsbad that are of interest, including La Costa, Aviara, and Calavera Hills.

Please reach out to me directly or by text at (760) 840-1360. Then we can discuss your housing needs, timing, lifestyle, budget, and questions. Together we’ll create an effective strategy to buy your new Carlsbad home. We can also discuss the sale of your current Carlsbad home if that’s of interest.