What’s the Value of My Carlsbad Home?
Carlsbad Market Report for November 2023
The Carlsbad real estate market continues to shift, with changes from October 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. As a result they do not reflect local Carlsbad housing market conditions (read more - How Local IS Local?). Current information, and analysis, about local market conditions benefits you when you want to make important buying and/or selling decisions about Carlsbad homes for sale.
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58 homes sold in Carlsbad in November (92008, 92009, 92010 and 92011), 27% fewer sales than in October. Here are the specifics:
Single Family Homes Sold
36 (down 14%); 30 Average Days on Market; Average Sales Price was $1,881,986 (up 7%); Average Sales Price was 96% of original asking price.
Condos, Townhomes & Duplexes Sold
22 (down 41%); 23 Average Days on Market; Average Sales Price was $924,818 (up 8%); Average Sales Price was 93% of original asking price. 1 condo sale was a lease option to buy at $5,500.
Overall Carlsbad home sales in November decreased from October. There were fewer single family home sales, and significantly fewer condo, townhome and duplex sales. The average sales price increased for single family homes, as well as for condos, townhomes and duplexes. November sales prices ranged from $561,000 to $6,300,000.
The average marketing time was 1 week longer for single family homes, and 2 days longer for condos, townhomes, and duplexes.
Compared to November 2022, there were 27% fewer sales of single family homes in 2023. There were 2 fewer condos, townhomes and duplexes sold in November 2023 than 1 year ago. The average sales price year over year was 20% higher for single family homes in 2023 (median price was 11% higher), and 7% higher for condos, townhomes and duplexes (median price was 15% higher) in November 2023.
A number of the home buyers made quick decisions to tour homes and submit successful offers. 28% of the homes went pending in 7 days or less, fewer than last month. It’s wise for buyers to be ready and not delay their decision-making in Carlsbad’s housing market!
The majority of the buyers negotiated their home prices down from asking price. At the same time, however, 29% paid list price or more for their homes. Buyer competition remains an issue, and it’s important to remember this when planning an offer strategy!
The median sales price for single family detached homes was $1,710,000, compared to $1,547,000 in October, and was $872,500 for condos, townhomes and duplexes, up 5% from last month.
There were 6 homes in Carlsbad at the end of November with an Active Under Contract status, compared to 7 last month. These homes are technically still active but might not allow further showings or accept back-up offers. They are included in the statistics below.
Inventory at the end of November (144) was down 6% from last month (153). List prices range from $569,000 to $21,900,000 for an oceanfront property.
There is a 1.6 month supply of condos, townhomes and duplexes (up from 1.5 months last month), and 2.1 months for single family homes (up from 1.8 months last month), based on the rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ housing market.
69 new listings came on the market in November, compared to 92 last month. 49 homes went pending (excluding homes that closed in November), versus 45 in October. It was still a 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 specifics regarding current activity, including Carlsbad neighborhoods that are of interest, such as La Costa, Aviara, Bressi Ranch or Calavera Hills.
Please contact me directly or via text at (760) 840-1360 to discuss your specific housing needs, timing, lifestyle, budget, and questions. Together we can develop a strategy to buy your new Carlsbad home, and/or sell your current Carlsbad home.
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