What’s the Value of My Carlsbad Home?
Carlsbad Market Report for July 2022
The Carlsbad real estate market continues to evolve, with some changes from June 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 guaranteed).
Media reports speak in general terms, thus they do not reflect local Carlsbad housing market conditions (read Real Estate is Local - But How Local ?). Current information, and analysis, about local market conditions benefits you so you can make educated buying and/or selling decisions about Carlsbad homes for sale.
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98 homes sold in Carlsbad in July (92008, 92009, 92010 and 92011), 23% fewer than in June. Here are the specifics:
Single Family Homes Sold
66 (down 17%); 15 Average Days on Market; Average Sales Price was $1,910,640 (up 1%); Average Sales Price was 99% of original asking price.
Condos, Townhomes & Duplexes Sold
32 (down 32%); 26 Average Days on Market; Average Sales Price was $1,006,418 (up 2%); Average Sales Price was 99% of original asking price.
Overall Carlsbad home sales in July declined significantly from June, and for single family home sales, but in particular for condo, townhome and duplex sales. The average sales price rose slightly for single family homes, as well as for condos, townhomes and duplexes. Sales prices in July ranged from $625,000 to $3,450,000.
The average marketing time was 2 days longer for single family homes, but was significantly longer for condos, townhomes, and duplexes, reaching almost 1 month.
Compared to July 2021, there were 45% fewer sales of single family homes. And 52% fewer condos, townhomes and duplexes sold in July 2022. The average sales price year over year was 30% higher for single family homes (median price was 39% higher), and 14% higher for condos, townhomes and duplexes (median price was 16% higher) in July 2022.
Many buyers quickly decided to tour homes and submit successful offers. But 41% of the homes went pending in 7 days or less! While this is less than last month it’s remains important to plan for quick decisions in Carlsbad’s housing market!
A good number of Carlsbad buyers negotiated their home purchases. However 40% paid over asking price for their homes which is fewer than last month! This is a good indicator of competition, and important to remember for an offer strategy if you want to compete successfully!
The median sales price for single family detached homes was $1,880,000, up 9% from June, and was $834,500 for condos, townhomes and duplexes, which was 4% less than last month.
There were 10 homes in Carlsbad at the end of July with an Active Under Contract status, compared to 11 last month. These homes are technically still active but may not allow further showings or accept more back-up offers. They are included in the statistics below.
Inventory at the beginning of July (225) was modestly less than last month (231). List prices range from $465,000 to $18,700,000. The Carlsbad inventory remains limited relative to buyer demand and did not improve in July, perhaps not a surprise given the summer.
There is a 1.6 month supply of condos, townhomes and duplexes (the same as last month), and 2.1 months for single family homes (up from 2 months last month), based on the rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ housing market.
In July 136 new listings came on the market, compared to 175 last month, perhaps not a surprise given the time of year. In contrast 93 homes went pending (excluding homes that closed), 31% more than last month.
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 contact me directly or via text at (760) 840-1360 and we can discuss your housing needs, timing, lifestyle and budget, and any questions. Together we can create an effective 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 June 2022
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