Here’s the Carlsbad Market Report for October 2022 with a number of shifts from last month and 1 year ago. These statistics do not include private sales, mobile homes or multi-family housing. The numbers are taken from the MLS and believed to be accurate when reported but are not guarantee.
And here’s the September 2022 Market Report in case you missed it.
Media reports speak in general terms and do not reflect local Carlsbad housing market conditions. To learn more, read How Local IS Local? Up-to-date information, and analysis, about local market conditions benefits you whether you are buying OR selling.
There were 101 homes sold in Carlsbad in October, 36% fewer than in September. Here are the details:
Single Family Homes Sold – 45 (down 20%). 32 Average Days on Market. The Average Sales Price was $1,827,954 (up 13%). Average Sales Price was 94% of original asking price.
Condos, Townhomes & Duplexes Sold – 21 (down 54%). 19 Average Days on Market. The Average Sales Price was $921,529 (down 9%). Average Sales Price was 99% of original asking price.
Overall, home sales in October dropped from September, another decline. There were fewer single family home sales, and substantially fewer condo, townhome and duplex sales. The average sales price increased for single family homes, but decreased for condos, townhomes and duplexes. Sales prices in October ranged from $589,000 to $2,850,000.
The average marketing time was modestly shorter for single family homes, as it also was for condos, townhomes, and duplexes.
Looking back to October 2021, there were 55% fewer sales of single family homes in 2022. 60% fewer condos, townhomes and duplexes sold in October 2022. The average sales price year over year was 14% higher for single family homes (median price was 25% higher). The average sales price was 7% higher for condos, townhomes and duplexes (median price was 30% higher) in October 2022.
32% of the homes were pending in 7 days or less, more than in September, so some buyers acted promptly. It’s still important to consider making quick decisions in Carlsbad’s housing market!
The majority of Carlsbad buyers were able to negotiate their home prices. However, 29% paid asking price or higher for their homes. This is a good indication of continuing competition, and important to remember when planning your offer!
The median sales price for single family detached homes was $1,817,500, 31% higher than last month. The median was $837,500 for condos, townhomes and duplexes, 12% higher than in September.
The inventory at the end of October, 148, was 14% lower than last month (165). List prices range from $345,000 to $14,950,000. The Carlsbad inventory continues to be limited.
There is a 1.4 month supply of condos, townhomes and duplexes, and 1.7 months for single family homes. This is based on the rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ housing market.
In October 74 new listings came on the market, compared to 94 last month. Similarly, 52 homes went pending, excluding homes that closed, versus compared to 61 in September.
This overview of the Carlsbad housing market is based on data in the MLS. I can share more details with regard to current activity, as well as for neighborhoods of Carlsbad that interest you, such as La Costa, Aviara, Bressi Ranch or Calavera Hills. Please reach out to me directly or via text at (760) 840-1360. Then we can discuss your housing needs, timing, lifestyle and budget, and your questions. Together we can develop an effective strategy to buy your new Carlsbad home, and/or sell your current Carlsbad home. If you plan to both sell and buy we can discuss strategies for that, too.