What’s the Value of My Carlsbad Home?
Carlsbad Market Report for May 2023
The Carlsbad real estate market continues to shift, with changes from April and 1 year ago. Private sales, mobile homes and multi-family housing are not included (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 the local Carlsbad housing market conditions (learn more - How Local IS Local?). Current information, and analysis, about local market conditions benefits you when you need to make important buying and/or selling decisions about Carlsbad homes for sale.
READ MORE ABOUT CARLSBAD
92 homes sold in Carlsbad in May (92008, 92009, 92010 and 92011), a 16% increase in sales from April. Here are the specifics:
Single Family Homes Sold
55 (up by 3); 11 Average Days on Market; Average Sales Price was $1,965,553 (up 9%); Average Sales Price was 102% of original asking price.
Condos, Townhomes & Duplexes Sold
37 (up 37%); 17 Average Days on Market; Average Sales Price was $1,172,952 (up 33%); Average Sales Price was 99% of original asking price.
Overall Carlsbad home sales in May increased from April. There were several more single family home sales, and substantially more condo, townhome and duplex sales. The average sales price increased for single family homes, and was significantly higher for condos, townhomes and duplexes. May sales prices ranged from $492,000 to $11,475,000.
The average marketing time was shorter for single family homes, and for condos, townhomes, and duplexes.
Compared to May 2022, there were 21% fewer sales of single family homes. And 29% fewer condos, townhomes and duplexes sold in May 2023. The average sales price year over year was 6% higher for single family homes (median price was 5% lower), and 13% higher for condos, townhomes and duplexes (median price was 6% higher) in May 2023.
A number of buyers made quick decisions to tour homes and submit successful offers. 45% of the homes were pending in 7 days or less, more than did so in April. It’s clear that buyers should be ready to make prompt decisions in Carlsbad’s housing market!
Plenty of Carlsbad buyers negotiated their home prices down from list price. But more than half (59%) paid asking price or higher for their homes, about the same as last month. Buyer competition continues, and it’s important to remember this when planning your offer strategy!
The median sales price for single family detached homes was $1,710,000, 24% higher than in April, and was $925,000 for condos, townhomes and duplexes, 12% higher than last month.
There were 9 homes in Carlsbad at the end of May with an Active Under Contract status, compared to 6 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 end of May (128) was up 36% from last month (94). List prices range from $650,000 to $25,000,000 for an oceanfront estate.
There is a 1.1 month supply of condos, townhomes and duplexes (down from 1.2 months last month), and 1.5 months for single family homes (up from 1.1 months last month), based on the rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ housing market.
119 new listings came on the market in May, compared to 93 last month. 69 homes went pending (excluding homes that closed in May), versus 61 in April. It was busy month for Carlsbad buyers and sellers.
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 are of interest, such as La Costa, Aviara, Bressi Ranch or Calavera Hills.
Please reach out to me directly or by text at (760) 840-1360 so we can discuss your housing needs, timing, lifestyle, budget, and questions. Together we can create an effective strategy to buy your new Carlsbad home, and/or sell your current Carlsbad home.
SEARCH FOR CARLSBAD HOMES FOR SALE
Read More:
What’s My Carlsbad Home Worth? Carlsbad Home Sales for April 2023
Comments(7)