Here’s the Market Report for February 2022 for Carlsbad, with several shifts from last month and 1 year ago.
89 homes sold in Carlsbad in February, 22% more sales than in January! Here are the specifics:
Single Family Homes Sold – 55 (up by 28%). Average Days on Market was 13; The Average Sales Price was $1,639,743 (down 5%). Average Sales Price was 109% of original asking price.
Condos, Townhomes & Duplexes Sold – 34 (up by 13%). The Average Days on Market was 14. Average Sales Price was $876,338 (down by 7%). The Average Sales Price was 107% of original asking price.
Overall Carlsbad home sales in February increased significantly from January. There were substantially more single family home sales, more condo, townhome and duplex sales. The average sales price dropped for single family homes, as well as for condos, townhomes and duplexes.
Sales prices in February ranged from $515,000 to $3,649,000. Marketing time was 1 day longer for single family homes, but under 2 weeks. The time on the market was 5 days shorter for condos, townhomes, and duplexes, at 2 weeks.
Compared to February 2021, there were 25% fewer sales of single family homes. There were 36% fewer condos, townhomes and duplexes sold in February 2022. The average sales price year over year was 13% higher for single family homes (median price was 17% higher). The average price was 19% higher for condos, townhomes and duplexes (median price was 24% higher) in February 2022.
A number of buyers made decisions quickly to tour homes and submit successful offers. But over half the homes (56%) went pending in 7 days or less! Buyers should be ready to make quick decisions so they can compete successfully in the Carlsbad housing market!
The large majority of Carlsbad home buyers, 87%, paid full price or more for their homes! This is a good indication of competition, and important to keep in mind if you plan on buying.
The median sales price for single family detached homes was $1,540,000, 8% lower than January. The median was $876,500 for condos, townhomes and duplexes, up 7% from last month.
The inventory at the beginning of February (64) was about 16% higher than the start of January, good news for buyers. List prices range from $465,000 to $8,800,000. The Carlsbad inventory remains limited compared to the buyer demand, but improved in February.
There is a 25-day supply of condos, townhomes and duplexes, and 16 days for single family homes. This is based on the rate of sales over the last 3 months. Carlsbad continues to be a very strong sellers’ market.
In February 101 new listings came on the market, versus 33 last month, an average of 3+ per day. Similarly, 76 homes went pending (excluding homes that closed), about 3 time the number of January pendings.
This overview of the Carlsbad real estate market is based on information provided by the MLS. I’m happy to provide more details regarding current activity, and for specific Carlsbad neighborhoods that interest you.
Please reach out to me at (760) 840-1360 to discuss your housing needs, timing, lifestyle, budget, and questions. Then we can develop a plan to buy your new Carlsbad home, and/or sell your current Carlsbad home.