What’s the Value of My Carlsbad Home?
Carlsbad Market Report for February 2022
The Carlsbad real estate market continues to shift, with some changes from last month and 1 year ago. These statistics do not include private sales, mobile homes or multi-family housing (the numbers are derived from the MLS and are believed to be accurate at the time they are reported but are not guaranteed).
Media reports speak in general terms, and do not reflect local Carlsbad housing market conditions. Current data, and analysis, about the local market conditions will benefit you so you can make educated purchase and/or sale decisions about Carlsbad homes for sale.
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89 homes sold in Carlsbad in February (92008, 92009, 92010 and 92011), 22% more than in January! Here are the specifics:
Single Family Homes Sold
55 (up 28%); Average Days on Market was 13; Average Sales Price was $1,639,743 (down 5%); Average Sales Price was 109% of original asking price with 1 home selling at 133% of list price & 1 at $500K over asking.
Condos, Townhomes & Duplexes Sold
34 (up 13%); Average Days on Market was 14; Average Sales Price was $876,338 (down by 7%); 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, as well as more condo, townhome and duplex sales. The average sales price declined for single family homes, and 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 (under 2 weeks), and 5 days shorter for condos, townhomes, and duplexes.
Compared to February 2021, there were 25% fewer sales of single family homes and 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), and 19% higher for condos, townhomes and duplexes (median price was 24% higher) in February 2022.
A number of buyers decided quickly to tour homes and submit successful offers; over half the homes (56%) went pending in 7 days or less! Buyers should be prepared to make quick decisions in order to compete successfully in the Carlsbad housing market!
While some Carlsbad buyers were able to negotiate the original list price down, the large majority of them, 87%, paid full price or more! This is a good indication of the competition, and important to keep in mind if you plan on buying a home. A low offer will not likely be successful except in rare circumstances!
The median sales price for single family detached homes was $1,540,000, down 8% from January, and was $876,500 for condos, townhomes and duplexes, which was 7% higher than last month.
There were 11 homes in Carlsbad at the end of February with an Active Under Contract status, versus 8 last month. These homes are technically still active but may not allow further showings or accept more back-up offers.
Inventory at the beginning of February (64) was 16% higher than that of January, which was good news for buyers. List prices range from $465,000 to $8,800,000. The Carlsbad inventory remains limited compared to strong buyer demand, but showed modest improvement in February.
There is a 25-day supply of condos, townhomes and duplexes (up from 19 days last month), and 16 days for single family homes (up from 12 days last month), 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, compared to 33 last month, an average of 3+ per day, and good news. Similarly, 76 homes went pending (excluding homes that closed), triple the number of pendings in January. February was a busy month for the Carlsbad housing market.
This summary 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 activity, as well as for specific 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 so we can discuss your housing needs, timing, lifestyle and budget, and any questions. Then we can develop a strategy to buy your new Carlsbad home, and/or sell your current Carlsbad home.
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Read More:
What’s My Carlsbad Home Worth? Carlsbad Home Sales for January 2022
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