Here’s the October 2024 Market Report for Carlsbad. And here’s the Market Report for September as a comparison.
The Carlsbad real estate market continues to evolve, with shifts from September and 1 year ago. Private sales, mobile homes and multi-family housing are not included. The data are from the MLS and believed to be accurate as reported but are not guaranteed.
Media market reports are very general in nature. Thus they do not reflect local Carlsbad housing market conditions (read more – How Local IS Local?). Current information, and analysis, about local market conditions benefits you when you need to make important buying and/or selling decisions.
87 homes sold in Carlsbad in October, down 1 from September.
CARLSBAD MARKET REPORT DETAILS
Single Family Homes Sold – 56 (down by 1). 23 Average Days on Market. The Average Sales Price was $1,842,766 (down 6%). Average Sales Price was 97% of the original asking price.
Condos, Townhomes & Duplexes Sold – 31 (no change). 45 Average Days on Market. The Average Sales Price was $1,037,190 (up 20%). Average Sales Price was 96% of the original asking price.
Carlsbad home sales in October declined slightly from September. Single family home sales decreased by 1, while condo, townhome and duplex sales did not shift. The average sales price decreased for single family homes. In contrast, the average price increased for condos, townhomes and duplexes. October sales prices ranged from $510,000 to $3,700,000.
The average marketing time was shorter for single family homes than last month, but longer for condos, townhomes, and duplexes.
The number of single family home sales sold in October 2024 was 30% higher than a year ago. In contrast 31 condos, townhomes and duplexes sold in October 2024 compared to 38 1 year ago. The average sales price year over year was 5% higher for single family homes in October 2024 (the median price was 9% higher). Similarly, the average sales price was 20% higher for condos, townhomes and duplexes sold in October 2024 than 1 year ago; the median price was 1% lower.
A number of buyers made prompt decisions to tour listings and submit successful offers. 34% of the homes went pending in 7 days or less. Thus, homebuyers should be prepared to make quick decisions in the current Carlsbad housing market.
The majority of buyers negotiated their home purchase prices down from list price. At the same time, however, 30% paid asking price or more for their homes. Buyer competition continues, so it’s smart to remember this for your home search and when planning an offer strategy!
The median sales price for single family detached homes was $1,940,000, compared to $1,774,214 in August. The median price was $900,000 for condos, townhomes and duplexes, versus $830,000 last month.
Inventory at the end of October (215) was down by 2 from last month (217). List prices range from $399,999 to $8,395,000.
There is a 2.5 month supply of condos, townhomes and duplexes, down from 2.6 months last month. And there is a 2.2 month supply for single family homes (up from 1.9 months last month). This is based on the rate of sales over the last 3 months. Carlsbad continues to be a very strong sellers’ market.
115 new listings came on the market in October, compared to 104 last month, an increase by 11%. In contrast, 61 homes went pending (excluding homes that closed in October), compared to 67 in September.
This summary of the Carlsbad housing market is based on data from the MLS. I can share other details about current activity, including Carlsbad neighborhoods of that are of interest (e.g., La Costa, Aviara, Bressi Ranch, Calavera Hills).
Please reach out to me by phone or text at (760) 840-1360 to discuss your personal housing needs, timing, lifestyle, budget, and questions. Together we can create a strategy to buy your new Carlsbad home, and/or sell your current Carlsbad home if that is your plan.