The following is a summary of the Carlsbad housing market activity for July 2021. A total of 177 homes sold, an increase of 7% from June sales!
Single Family Homes Sold – 115 (same at last month); Average Days on Market was 13; Average Sales Price was $1,473,491 (down 2%); Average Sales Price was 106% of original asking price
Condos, Townhomes & Duplexes Sold – 62 (up 22%); Average Days on Market was 10, Average Sales price was $878,791 (up 13%); Average sales price was 102% of original asking price
July Carlsbad home sales increased from June, due to a substantial increase in condo, townhome and duplex sales; there was no change in single family detached home sales. The average sales price was slightly lower for single family homes, but higher for condos, townhomes and duplexes.
Home sales prices ranged from $438,475 to $4,925,000. Marketing time was longer for single family homes, but just a few days longer for condos, townhomes, and duplexes compared to June.
Looking back to July 2020, there were 12% fewer sales of single family homes in July 2021, and 22% fewer condos, townhomes and duplexes in July 2021. The average sales price year over year was 25% higher for single family homes in 2021 (the median price was 23% higher), and 41% higher for condos, townhomes and duplexes (the median was 16% higher).
If you are a buyer in the Carlsbad housing market, and want to compete successfully, making quick decisions will be pretty important! Why? Well more than half of the homes (57%) went pending in 1 week or less!
A number of Carlsbad buyers negotiated the price of their homes down from the original list price, however, the majority of them (84%) paid full price or higher, with several paying 120% of list price or more. This is a strong indication of the competition, and important to remember if you are planning to buy. Submitting a low offer is not likely to lead to offer acceptance!
The median sales price for single family homes was $1,350,000, a drop of 6% from last month. The median of $718,500 for condos, townhomes and duplexes was off 2% from June.
There was a substantial 44% increase in the Carlsbad inventory, from 103 at the end of June to 148 in July…great news for buyers. Homes range in price from $325,000 to $8,800,000.
Despite the improvement, Carlsbad’s current inventory remains tight because of demand, with a 1 month supply for condos, townhomes and duplexes, and 24 days for single family homes, based on the rate of sales over the last 3 months. Carlsbad continues to be a very strong sellers’ market.
There were 181 new listings in July, versus 167 last month – that’s 6 per day! 128 homes went pending (excluding homes that closed in July), a 16% decrease from June, but still an average of 4 pendings each day.
This overview of the Carlsbad real estate market is based on information provided by the MLS. I’m happy to provide more details with regard to current real estate activity as well as for specific neighborhoods of Carlsbad that interest you, such as La Costa, Aviara, Bressi Ranch or Calavera Hills.
Please contact me at (760) 840-1360 so we can discuss your housing needs, timing, lifestyle and budget, and any questions. With this information we can develop a strategy to help buy your new Carlsbad home, and/or sell your current Carlsbad property for the best price, terms and conditions.