Carlsbad Real Estate Market Report for October 2019

We continue to see changes in the housing market in Carlsbad, with shifts from last month, and 1 year ago. Here’s what happened in October 2019 based on data reported in the MLS. This report does not include private sales, or manufactured or multi-family dwellings.

A total of 140 homes sold in Carlsbad in October which was 13% more sales than in September, following 2 months of sales declines.

Detached Homes Sold – 84 (up 24%); 38 average days on market, average sales price was $1,094,721 (up 2%), average sales price was 96% of the original asking price

Attached Homes (condos, town homes, twin homes) Sold – 56 (no change); 38 days on market, average sales price was $650,133 (up 4%), average sales price was 98% of original asking price

Carlsbad home sales in October rose significantly from September for detached single family homes, but did not change for attached homes. The average sales price was higher than in September for both detached and attached homes.

Detached home sales were down by 5%, and there were 10% fewer attached home sales than for October 2018. Average sales prices compared to 1 year ago also shifted, and were down by 5% for detached homes but higher on average by 7% for attached homes.

19% of the home buyers paid cash for their new homes.

Average time on market (DOM) rose slightly for detached homes but was several days less for attached homes but remains at a about 7 weeks.

In general Carlsbad buyers were able to negotiate the purchase of their homes 2 – 4% off the original asking price. However, it’s important to also note that 1 out of 4 home buyers (26%) paid asking price or better for their homes, an indication of competition in the market.

The median sales price for detached homes was $1,060,000 (up 9%) and $590,000 for attached (up 4%).

There were 8 homes in Carlsbad at the end of October with a CONTINGENT status, compared to 12 last month. Seven of these homes appear to be in a “first right of refusal” stage, with 1 short sale.

287 Carlsbad homes were listed for sale at the end of October (ranging in price from $525,000 to $26,950,000). This is a decline in inventory from last month by 13%.

The inventory is about 2.3 months for attached homes (down from 2.4 months last month) and 2 months for detached (down from 2.3 months last month). Carlsbad remains a market that favors home sellers, based on current supply and buyer demand, although this can vary by area and by price point.

In October 183 new listings came on the market, just 2% fewer than last month, but still about 6 new listings per day! 117 homes went pending in October (excluding homes that closed), 15% fewer than in September but still an active housing market with lots of buyer activity.

Please contact me at (760) 840-1360 so we can discuss your housing needs, lifestyle and budget, and any questions you have about buying, selling or the current market conditions. Then we can create a strategy to get you into your new Carlsbad home in 2019, and/or help you sell your current home.