What’s the Value of My Carlsbad Home?
Carlsbad Market Report for October 2024
The Carlsbad real estate market continues to evolve, with shifts from September 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 typically are very general. Thus 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 need to make important buying and/or selling decisions about Carlsbad homes for sale.
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87 homes sold in Carlsbad in October (92008, 92009, 92010 and 92011), down 1 from September. Here are the specifics:
Single Family Homes Sold
56 (down by 1); 23 Average Days on Market; Average Sales Price was $1,842,766 (down 6%); Average Sales Price was 97% of original asking price.
Condos, Townhomes & Duplexes Sold
31 (no change); 45 Average Days on Market; Average Sales Price was $1,037,190 (up 20%); Average Sales Price was 96% of original asking price.
Carlsbad home sales in October declined slightly from September. Single family home sales dropped by 1, while condo, townhome and duplex sales did not shift. The average sales price decreased for single family homes. In contrast, the average price increased for condos, townhomes and duplexes. October sales prices ranged from $510,000 to $3,700,000.
The average marketing time was shorter for single family homes than last month, but was longer for condos, townhomes, and duplexes.
The number of single family home sales sold in October 2024 was 30% higher than a year ago. In contrast 31 condos, townhomes and duplexes sold in October 2024 compared to 38 1 year ago. The average sales price year over year was 5% higher for single family homes in October 2024 (the median price was 9% higher). Similarly, the average sales price was 20% higher for condos, townhomes and duplexes sold in October 2024 than 1 year ago; the median price was 1% lower.
Plenty of buyers made quick decisions to tour listings and submit successful offers. 34% of the homes went pending in 7 days or less, more than last month. As a result, homebuyers should be ready to make prompt decisions in the current Carlsbad housing market.
The majority of buyers negotiated their home purchase prices down from list price. At the same time, however, 30% paid asking price or more for their homes. Buyer competition continues, and it’s important to remember this for your home search and when planning your offer strategy!
The median sales price for single family detached homes was $1,940,000, compared to $1,774,214 in September. The median price was $900,000 for condos, townhomes and duplexes, compared to $830,000 last month.
There were 6 homes in Carlsbad at the end of October 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 October (215) was down just slightly, by 2, from last month (217). List prices range from $399,999 to $8,395,000.
There is a 2.5 month supply of condos, townhomes and duplexes (down from 2.6 months last month), and 2.2 months for single family homes (up from 1.9 months last month), based on the rate of sales over the last 3 months. Carlsbad remains a very strong sellers’ housing market.
115 new listings came on the market in October, compared to 104 last month, an increase of 11%. In contrast, 61 homes went pending (excluding homes that closed in October), compared to 67 in September.
This summary of the Carlsbad housing market is based on data from 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 by phone or text at (760) 840-1360 to discuss your personal housing needs, timing, lifestyle, budget, and questions. Together we’ll develop a plan to buy your new Carlsbad home, and/or sell your current Carlsbad home.
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