What’s the Value of My Carlsbad Home?
Carlsbad Market Report for April 2021
The Carlsbad real estate market continues to evolve, 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 our 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 information, 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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196 homes sold in Carlsbad in April (92008, 92009, 92010 and 92011), a substantial increase by 40% from March! Here’s what happened:
Single Family Homes Sold
124 (up by 49%); Average Days on Market was 15; Average Sales price was $1,521,768 (down 7%); Average sales price was 105% of original asking price (1 home sold for 129% of list price
Condos, Townhomes & Duplexes Sold
72 (up 26%); Average Days on Market was 42; Average Sales price was $764,053 (up 12%); Average sales price was 103% of original asking price
Overall Carlsbad home sales in April increased significantly from March, with substantially more single family homes, and condos, townhomes and duplexes sold. The average sales price was lower for single family homes (in part due to 9 homes selling last month for over $2M, with 1 at $20M, that raise the average!), but modestly higher for condos, townhomes and duplexes.
Sales prices in April ranged from $300,000 to $7,257,120. Marketing time was longer for single family homes (but still only about 2 weeks), and for condos, townhomes, and duplexes.
Compared to April 2020, sales of single family home were 78% higher in April 2021, and nearly twice as many condos, townhomes and duplexes sold in April 2021 (up 95%). The average sales price year over year was 34% higher for single family homes, and 4% higher for condos, townhomes and duplexes.
The majority of the homes (66%) went pending in 1 week or less – clearly many buyers made quick decisions to tour properties and submitted successful offers! If you are a buyer in today’s market and want to compete successfully this is important to keep in mind!
While some Carlsbad buyers were able to negotiate the price of their homes down from the original listing price, 4 out of 5 buyers (84%) paid full price or higher, with 1 paying 29% over list price. This is a good indication of the competition among buyers in the Carlsbad housing market, and important to keep in mind if you are thinking of buying a home. Submitting a low offer will not lead to success in this market!
The median sales price for single family homes was $1,350,000, up 5% from last month, another increase, and $683,000 for condos, townhomes and duplexes, up by 9% from March.
There were 4 homes in Carlsbad at the end of April with an Active Under Contract status, versus 8 last month. These homes are technically still available but some listings may not allow further showings or accept more back-up offers.
We saw a 10% increase in the Carlsbad inventory, from 92 at the end of March to 101 in April, with homes ranging in price from $257,500 to $8,000,000. Is the inventory tight? Yes, but it was nice to see a modest improvement in April!
Carlsbad’s current inventory remains limited, with a 19 day supply for condos, townhomes and duplexes (down from 21 days last month) and 20 days for single family homes (compared to 22 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 strong buyer demand.
In April 175 new listings came on the market, versus 157 last month, which was good news for buyers (up 11%). 137 homes went pending (excluding homes that closed), a 7% drop from March but still an average of around 4 pending listings each day…a busy month for sellers and buyers.
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.