What’s the Value of My Carlsbad Home?
Carlsbad Market Report for November 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 well-informed purchase and sale decisions about Carlsbad homes for sale.
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176 homes sold in Carlsbad in November (92008, 92009, 92010 and 92011), down 5% from October but still a substantial number of sales in any month over the last 2 years! Here’s what happened:
Single Family Homes Sold
116 (no change); Average Days on Market was 14; Average Sales price was $1,233,160 (up 2%); Average sales price was 100% of original asking pric
Condos, Townhomes & Duplexes Sold
60 (down 13%); Average Days Market was 24; Average Sales price was $664,535 (down 12%); Average sales price was 99% of original asking price
Overall Carlsbad home sales in November decreased modestly from October, with no shift in single family home sales but a substantial decrease in sales of condos, townhomes and duplexes. The average sales price was slightly higher for single family homes, but was lower for condos, townhomes and duplexes (8 of the sales last month were over $1M which had raised the average for the month). Sales prices ranged from $360,000 to $3,479,000.
Compared to November 2019, single family home sales were up significantly by 38%, while there were 36% more condo, townhome and duplex sales. The average sales price year over year was 6% higher for single family homes, but 7% lower for condos, townhomes and duplexes.
50% of the homes went pending in 1 week or less – many buyers made quick decisions to see properties and then made successful offers. According to the MLS listing one property – a fixer – had 29 offers!
Carlsbad buyers were able to negotiate the purchase of their homes and average of 1% off the original asking price. However, well over half of the home buyers (62%) paid asking price or better for their homes, a good indication of the buyer competition in the Carlsbad housing market.
The median sales price for single family homes was $1,160,000, up 3% from last month, and $586,000 for condos, townhomes and duplexes, down 7% from October.
There were 13 homes in Carlsbad at the end of November with an Active Under Contract status, versus 13 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 138 Carlsbad homes for sale at the end of November, ranging in price from $325,000 to $26,950,000, which is a 22% decrease from last month, perhaps not a surprise given the time of year.
Carlsbad’s current inventory is only 1 month for condos, townhomes and duplexes (down from 1.4 months last month) and 17 days for single family homes (down from 21 days 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 November due to continued limited supply and strong demand.
In November 108 new listings came on the market, compared to 201 last month. 124 homes went pending (excluding homes that closed), a decrease by 28% from October but still an average of about 4 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 will create a strategy to help you buy a new Carlsbad home, and/or help you sell your current Carlsbad home.
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Read More:
What’s My Carlsbad Home Worth? Carlsbad Home Sales for October 2020
