May 6, 2024
Here’s the Carlsbad Market Report for April. And here’s the Market Report for March for comparison.
The Carlsbad real estate market continues to change, with shifts from March and 1 year ago. Private sales, mobile homes and multi-family housing are excluded. The data are from the MLS and believed to be accurate as reported but are not guaranteed.
Media market reports speak in generalities. 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 have to make important buying and/or selling decisions.
108 homes sold in Carlsbad in April, 13% more sales than in March, and another increase.
CARLSBAD MARKET REPORT DETAILS
Single Family Homes Sold – 69 (up 21%). 18 Average Days on Market. The Average Sales Price was $2,029,939 (up 8%). Average Sales Price was 101% of original asking price.
Condos, Townhomes & Duplexes Sold – 39 (no change). 17 Average Days on Market. The Average Sales Price was $1,080,000 (down 10%). Average Sales Price was 100% of original asking price.
Overall Carlsbad home sales in April improved from March. There were 21% more single family home sales, but the number of condo, townhome and duplex sales did not change. The average sales price increased slightly (up 8%) for single family homes. In contrast, the average price declined for condos, townhomes and duplexes. April sales prices ranged from $520,000 to $4,000,000.
The average marketing time was shorter for single family homes. Marketing time was also shorter for condos, townhomes, and duplexes.
There were 30% more single family home sales than in April 1 year ago. And 34% more condos, townhomes and duplexes sold in April 2024 than in 2023.
The average sales price year over year was 12% higher for single family homes in April 2024. The median price was 14% higher than 1 year ago. Similarly, the average sales price was 22% higher for condos, townhomes and duplexes sold in April 2024 than in 2023. The median price was 3% higher.
A number of buyers made quick decisions to tour homes and submit successful offers. 49% of the homes were pending in 1 week or less. As a result, buyers in Carlsbad should be ready to make their decisions quickly in the current market!
Some buyers were able to negotiate their home purchase prices down from list price. However, over half (59%) paid asking price or more for their homes. There is plenty of buyer competition, and it’s important to remember this when planning your offer strategy!
The median sales price for single family detached homes was $1,885,000, compared to $1,775,000 in March The median was $859,000 for condos, townhomes and duplexes, versus $855,000 last month.
Inventory at the end of April was up 26% from last month which is good news for buyers. List prices range from $399,999 to $9,995,000.
There is a 1.9 month supply of condos, townhomes and duplexes (up from from 1.5 months last month). There is a 1.4 month supply for single family homes (down from 1.5 months). This is based on the rate of sales over the last 3 months. Carlsbad is still a very strong sellers’ housing market.
141 new listings hit the market in April, compared to 107 last month, an increase of 32%. 73 homes went pending (excluding homes that closed in April), 2 more than in March.
This overview of the Carlsbad housing market is based on data in the MLS. I can share other details regarding current activity, including Carlsbad neighborhoods that interest you (e.g., La Costa, Aviara, Bressi Ranch, Calavera Hills).
Please reach out to me directly or via text at (760) 840-1360 to discuss your specific housing needs, timing, lifestyle, budget, and questions. We can work together to create a plan to buy your new Carlsbad home, and/or sell your current Carlsbad home.
