What’s the Value of My Carlsbad Home?
Carlsbad Home Sales for October 2020
The Carlsbad real estate market continues to change, with some shifts from last month and 1 year ago. These data do not include private sales or manufactured/mobile/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 our local Carlsbad housing market. Current data, and knowledge, about the local market conditions benefit you so you can make educated purchase and sale decisions about Carlsbad homes for sale.
READ MORE ABOUT CARLSBAD
185 homes sold in Carlsbad in October (92008, 92009, 92010 and 92011), down 3% from September but that's still a substantial number of sales for Carlsbad for any month over the last 2 years! Here’s what happened:
Single Family Homes Sold
116 (down 12%); Average Days on Market was 22; Average Sales price was $1,209,444 (down 3%), Average sales price was 99% of original asking price
Condos, Townhomes & Duplexes Sold
69 (up 17%); Average Sales price was $758,766 (up 14%), Average sales price was 99% of original asking price
Overall Carlsbad home sales in October decreased modestly from September, with a decrease in single family home sales but a substantial increase for sales of condos, townhomes and duplexes. The average sales price was slightly lower for single family homes, but higher for condos, townhomes and duplexes (8 of the sales were over $1M). Sales prices ranged from $95,000 to $3,500,000.
Compared to October 2019, single family home sales were up significantly by 30%, while there were 19% more condo, townhome and duplex sales. The average sales price year over year was 14% higher for single family homes, and 18% higher for condos, townhomes and duplexes.
38% of the homes went pending in 1 week or less, like last month – many buyers made quick decisions to see properties and then made successful offers.
Carlsbad buyers were able to negotiate the purchase of their homes and average of 1% off the original asking price. However, over half of the home buyers (55%) paid asking price or better for their homes, a good indication of the competition that continues in the Carlsbad housing market.
The median sales price for single family homes was $1,130,000, down 8% from last month, and $630,000 for condos, townhomes and duplexes, up 7% from September.
There were 15 homes in Carlsbad at the end of October with an Active Under Contract status, versus 21 last month. These homes are technically still available (in some cases they may be short sales or REOs) but some of these listings may not allow more showings or accept more back-up offers.
There were 178 Carlsbad homes for sale at the end of October, ranging in price from $325,000 to $26,950,000, which is an 8% decrease from last month.
Carlsbad’s current inventory is only 1.4 months for condos, townhomes and duplexes (up from 1.3 months last month) and less than 1 month for detached (the same as last month) based on the rate of sales over the last 3 months. Carlsbad continues to be a very strong sellers’ market based on current inventory and buyer demand, and became more competitive in October due to continued limited supply and strong demand.
In October 201 new listings came on the market, compared to 208 last month. 173 homes went pending (excluding homes that closed), a decrease by 2% from September but still an average of about 6 listings going pending each day. It was a busy month for buyers and sellers.
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 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 that you have. Then we can create a strategy to get you into a new Carlsbad home, and/or help you sell your current Carlsbad home.
SEARCH FOR CARLSBAD HOMES FOR SALE
Read More:
What’s My Carlsbad Home Worth? Carlsbad Home Sales for September 2020
