What’s the Value of My Carlsbad Home?
Carlsbad Market Report for July 2024
The Carlsbad real estate market continues to shift, with changes from June 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 as reported but are not guaranteed).
Media market reports tend to be very generalized. As a result they do not reflect local Carlsbad housing market conditions (read more - How Local IS Local?). Up-to-date 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.
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112 homes sold in Carlsbad in July (92008, 92009, 92010 and 92011), 23% more sales than in June. Here are the specifics:
Single Family Homes Sold
78 (up 81%); 24 Average Days on Market; Average Sales Price was $1,890,896 (down 1%); Average Sales Price was 96% of original asking price.
Condos, Townhomes & Duplexes Sold
34 (down 29%); 38 Average Days on Market; Average Sales Price was $969,817 (down 26%); Average Sales Price was 97% of original asking price.
Overall Carlsbad home sales in July increased substantially from June. There were significantly more single family home sales, but fewer condo, townhome and duplex sales. The average sales price decreased slightly for single family homes. The average price declined markedly for condos, townhomes and duplexes. July sales prices ranged from $425,000 to $3,686,020.
The average marketing time was longer for single family homes, as it also was for condos, townhomes, and duplexes.
There were 2 more single family home sales than in July 2023. Similarly, there were 3 more condos, townhomes and duplexes sold in July 2024 than 1 year ago. The average sales price year over year was 9% higher for single family homes in July 2024 (the median price was 13% higher). The average sales price was 3% lower for condos, townhomes and duplexes sold in July 2024 than 1 year ago while the median price was 1% higher.
A number of buyers made quick decisions to tour listings and submit successful offers in July. About ¼ (26%) of the homes went pending in 7 days or less, fewer than last month. Buyers should still be ready to make quick decisions in Carlsbad’s current housing market!
The majority of buyers negotiated their home purchase prices down from list price. However, at the same time 41% paid asking price or higher for their homes. Buyer competition continues, and it’s important to remember this in your home search and when planning an offer strategy!
The median sales price for single family detached homes was $1,807,500, compared to $1,710,000 in June. The median price was $868,000 for condos, townhomes and duplexes, compared to $1,107,325 last month.
There were 15 homes in Carlsbad at the end of July with an Active Under Contract status, versus 9 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 July (213) was down by 7% from last month (228) following a big increase from May to June. List prices range from $399,999 to $11,550,000 (the most expensive listing, an oceanfront estate, was temporarily withdrawn on 8/1 for renovations).
There is a 2.2 month supply of condos, townhomes and duplexes (down from 2.3 months last month), and 1.8 months for single family homes (down from 2.1 months last month) based on the rate of sales over the last 3 months. Carlsbad continues to be a very strong sellers’ housing market.
114 new listings came on the market in July, compared to 144 last month, a decrease of 21%. 71 homes went pending (excluding homes that closed in July), compared to 72 in June. It was a busy month overall for Carlsbad buyers and sellers.
This summary of the Carlsbad housing market is based on information found in the MLS. I can share other details about current activity, including Carlsbad neighborhoods of interest to you (e.g., La Costa, Aviara, Bressi Ranch, Calavera Hills).
Please reach out to me directly or via text at (760) 840-1360 to talk about your specific housing needs, timing, lifestyle, budget, and questions. Together we can create a plan to buy your new Carlsbad home, and/or sell your current Carlsbad home.
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What’s My Carlsbad Home Worth? Carlsbad Home Sales for June 2024
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