What’s the Value My Carlsbad Home?
Carlsbad Market Report for September 2020
The Carlsbad real estate market continues to change, with some shifts from last month and 1 year ago. These data do not include private sales or manufactured/mobile/multi-family housing (the numbers are derived from the MLS and are believed to be accurate at the time they are reported but are not guaranteed).
Media reports speak in general terms, and do not reflect our local Carlsbad housing market. Current data, and knowledge, about the local market conditions benefit you so you can make well-informed purchase and sale decisions about Carlsbad homes for sale.
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191 homes sold in Carlsbad in September (92008, 92009, 92010 and 92011), down 4% from August but still a substantial number of sales for any month over the last 2 years! Here’s what happened:
Single Family Homes Sold
132 (down 1%); Average Sales price was $1,249,364 (up 8%), Average sales price was 98% of original asking price
Condos, Townhomes & Duplexes Sold
59 (down 9%); Average Sales price was $666,405 (up 11%), Average sales price was 94% of original asking price
Overall Carlsbad home sales in September decreased from August, with a slight decrease in single family home sales but a larger decline for sales of condos, townhomes and duplexes. The average sales price was higher for single family homes, as well as for condos, townhomes and duplexes. Sales prices ranged from $310,000 to $3,050,000.
Compared to September 2019, single family home sales were up significantly by 80%, while there were 16% more condo, townhome and duplex sales. The average sales price year over year was 18% higher for single family homes, and 9% higher for condos, townhomes and duplexes.
36% of the homes went pending in 1 week or less – many buyers made decisions quickly to see properties and then made successful offers.
Carlsbad buyers, on average, were able to negotiate the purchase of their homes for 2 - 6% off the original asking price. However, about half of the home buyers (52%) paid asking price or better for their homes, a good indication of the competition that continues in the housing market.
The median sales price for single family homes was $1,225,000, up 11% from last month, and $590,000 for condos, townhomes and duplexes, which did not shift from last month.
There were 21 homes in Carlsbad at the end of September with a Contingent status (now called Active Under Contract in our MLS), versus 6 last month. These homes are technically still available (in some cases they may be short sales or REOs) but some of these listings may not allow more showings or accept more back-up offers. All are first right of refusals.
There were 193 Carlsbad homes for sale at the end of September, ranging in price from $105,000 to $26,950,000, which is a 9% decrease from last month.
Carlsbad’s current inventory is only 1.3 months for condos, townhomes and duplexes (down from 1.5 months last month) and about 3 weeks for detached (the same as last month) based on the rate of sales over the last 3 months. Carlsbad continues to be a very strong sellers’ market based on current inventory and buyer demand, and became more competitive in September due to limited supply and strong demand.
In September 180 new listings came on the market, compared to 208 last month. 184 homes went pending (excluding homes that closed), an increase by 5% from August, an average of about 6 listings going pending per day. It was a busy month for both buyers and sellers.
This overview of the Carlsbad real estate market is based on information provided by the MLS. I’m happy to provide more details with regard to current activity as well as for specific neighborhoods of Carlsbad that interest you such as La Costa, Aviara and Bressi Ranch.
Please contact me at (760) 840-1360 so we can discuss your housing needs, timing, lifestyle and budget, and any questions that you have. Then we can create a strategy to get you into a new Carlsbad home in 2020, and/or help you sell your current Carlsbad home.
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If I can provide more information about homes for sale in Carlsbad and in surrounding areas, local housing market conditions, or assist you, friends or family in a purchase or sale, please call or text me at (760) 840-1360, or email me at JeffDowlerSolutions@gmail.com
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