Monthly Indicators

Home Value Update: April 2025

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U.S. existing-home sales decreased 5.9% month-over-month and 2.4% year- over-year to a seasonally adjusted annual rate of 4.02 million units, according to the National Association of REALTORS® (NAR), as affordability challenges and economic uncertainty weigh on market activity. Sales were down month over-month in all four regions, with the West experiencing the largest decline, at 9.4%.

Total housing inventory increased 8.1% month-over-month for a total of 1.33 million units heading into April, equivalent to a 4.0-month supply at the current sales pace, according to NAR. Although inventory is up nearly 20% from the same time last year, the additional supply has had little effect on home prices
across much of the country, with the national median existing-home price climbing 2.7% year-over-year to $403,700 as of last measure.

North County Numbers:

  • Closed Sales increased 3.4 percent for Detached homes and 3.7 percent for Attached homes.
  • Pending Sales decreased 2.9 percent for Detached homes and 4.1 percent for Attached homes.
  • The Median Sales Price was down 4.0 percent to $1,200,000 for Detached homes and 1.8 percent to $727,000 for Attached homes.
  • Days on Market increased 50.0 percent for Detached homes and 19.0 percent for Attached homes.
  • Supply increased 11.5 percent for Detached homes and 40.9 percent for Attached homes.

The numbers by city:
These numbers are for Single Family Detached homes and do not include Attached Homes, aka condos and townhomes.
DOM = Days on Market
% List Price = Percentage of the original list price that the home sold for.

Carlsbad

MonthAvg Sold $ChgDOMChgSold
Homes		ChgActive
Listings		Chg%
List Price		YTD
Chg
04/25$2,014,000-0%280%15514%1203%98.3%6.1%
03/25$2,016,0003%28-18%136-7%1168%98.3%6.2%
02/25$1,950,0000%34-3%1477%107-3%97.6%2.7%
01/25$1,947,0003%3513%137-10%110-5%97.1%2.5%
12/24$1,899,000-1%310%1533%116-16%97.3%-5.7%
11/24$1,926,000-1%3115%149-13%138-5%96.5%-4.3%
10/24$1,938,000-1%27-4%171-9%14616%96.4%-3.7%
09/24$1,950,0001%2817%1888%126-2%96.6%-3.1%
08/24$1,934,000-1%249%174-5%1282%97.5%-3.9%
07/24$1,948,000-3%2222%1832%1257%98.9%-3.2%
06/24$1,999,000-1%18-5%179-5%11717%100.0%-0.7%
05/24$2,024,000-1%19-5%18911%10018%100.4%0.5%
04/24$2,039,0004%20-17%17120%858%100.5%1.3%
03/24$1,960,000-3%24-4%14221%795%100.1%-2.6%
02/24$2,024,0001%25-14%11717%75-12%99.4%0.5%
01/24$2,005,000-0%2912%100-2%85-6%97.7%-0.4%
Continue reading →

2024 Year End Market Update

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The 2024 housing market started on a positive note: inventory was on the rise, mortgage rates had fallen from a 23-year high of 7.79% in October 2023 to the mid 6% range, and homebuyers had returned to the market, with U.S. existing home sales posting back-to-back monthly increases for the first time in more than two years in January and February. But rates soon began to climb, topping 7% in April, and buyers
pulled back, causing sales to slump during the traditionally busy spring buying season.

Summer arrived, and with it came a surge of new listings, pushing inventory to its highest level since 2020, according to the National Association of REALTORS®. Although buyers had more options to choose from in their home search, the additional supply did little to temper home prices, which continued to hit record highs nationwide, and sales remained slow. Eventually, mortgage rates began to ease, falling to a
yearly low of 6.08% in September, and with inflation moving toward its 2% target, the Federal Reserve initiated a series of interest rate cuts, dropping the benchmark rate one full percentage point. Buyers took advantage of lower borrowing costs and a greater supply of homes on the market, leading sales of existing homes to surge in October and November, marking the first time since May that home sales exceeded four million units.

Sales: Pending sales increased 4.8 percent, finishing 2024 at 10,116. Closed sales were also up 4.8 percent to end the year at 10,069.

Listings: Comparing 2024 to the prior year, the number of homes available for sale was lower by 2.2 percent. There were 1,412 active listings at the end of 2024. New listings increased by 18.1 percent to finish the year at 14,252.

Distressed: In 2024, the percentage of closed sales that were either foreclosure or short sale increased by 169.6 percent to finish the year at 6.2 percent of the market.

Prices: Home prices were up compared to last year. The overall median sales price increased 7.0 percent to $990,000 for the year. Single-Family Detached home prices were up 10.8 percent compared to last year, and Single-Family Attached home prices were up 7.1 percent.
List Price Received: Sellers received, on average, 98.7 percent of their original list price at sale, a year-over-year decrease of 0.2 percent.

Economists are projecting a more active housing market in 2025.
Existing-home sales are predicted to increase, as are home prices, albeit at a moderate pace. Mortgage rates will vary throughout the year but will likely stay within the 6% – 7% range. Buyers and sellers remain sensitive to fluctuations in mortgage rates, and the trajectory of rates will have a major impact on market activity. Inventory of new and existing homes will continue to improve in the new year, building on the supply gains made in 2024, with increases in both single-family and multifamily construction expected, according to the National Association of Home Builders.

    The numbers by city:
    These #’s are for Single Family Detached homes and do not include Attached Homes, aka condos and townhomes.
    DOM = Days on Market
    % List Price = Percentage of the original list price that the home sold for.

    Carlsbad:

    MonthAvg Sold $ChgDOMChgSold
    Homes    		ChgActive
    Listings    		Chg%
    List Price    		YoY Chg
    12/24$1,899,000-1%310%1533%116-16%97.3%-5.7%
    11/24$1,926,000-1%3115%149-13%138-5%96.5%7.3%
    10/24$1,938,000-1%27-4%171-9%14616%96.4%9.0%
    09/24$1,950,0001%2817%1888%126-2%96.6%10.9%
    08/24$1,934,000-1%249%174-5%1282%97.5%6.6%
    07/24$1,948,000-3%2222%1832%1257%98.9%4.7%
    06/24$1,999,000-1%18-5%179-5%11717%100.0%4.1%
    05/24$2,024,000-1%19-5%18911%10018%100.4%6.5%
    04/24$2,039,0004%20-17%17120%858%100.5%13.7%
    03/24$1,960,000-3%24-4%14221%795%100.1%18.3%
    02/24$2,024,0001%25-14%11717%75-12%99.4%27.0%
    01/24$2,005,000-0%2912%100-2%85-6%97.7%25.5%
    12/23$2,013,00012%26-4%102-20%90-10%96.9%24.0%
    11/23$1,795,0001%2723%128-15%1004%97.2%13.1%
    10/23$1,778,0001%2216%151-19%96-5%98.3%10.2%
    09/23$1,759,000-3%1927%186-3%101-3%98.5%3.3%
    08/23$1,815,000-2%157%1917%1041%99.6%0.7%
    07/23$1,861,000-3%140%17915%1036%100.0%2.2%
    Continue reading →

    Home Value Update: November 2024

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    U.S. existing-home sales rose 3.4% month-over-month and 2.9% year-over year to a seasonally adjusted annual rate of 3.96 million units, exceeding economists’ expectations for the month and marking the first annual gain since July 2021, according to the National Association of REALTORS® (NAR).
    Lower mortgage rates in late summer and early fall helped sales increase across all four regions.

    • Closed Sales increased 9.7 percent for Detached homes and 6.0 percent for Attached homes.
    • Pending Sales increased 6.2 percent for Detached homes and 19.2 percent for Attached homes.
    • The Median Sales Price was up 1.0 percent to $1,095,000 for Detached homes but decreased 0.3 percent to $750,000 for Attached homes.
    • Days on Market increased 22.2 percent for Detached homes and 78.9 percent for Attached homes.
    • Supply was dead even with last year for both property types.

    The number of homes for sale continues to improve nationwide, climbing 0.7% month-over-month and 19.1% year-over-year to 1.37 million units heading into November, for a 4.2-month supply at the current sales pace, according to NAR. Despite a wider selection of properties on the market, sales prices have
    remained strong at the national level, with a median existing-home price of $407,200 as of last measure, a 4% increase from the same time last year.

    The numbers by city:
    These #’s are for Single Family Detached homes and do not include Attached Homes, aka condos and townhomes.
    DOM = Days on Market
    % List Price = Percentage of the original list price that the home sold for.

    Carlsbad

    MonthAvg Sold $ChgDOMChgSold
    Homes    		ChgActive
    Listings    		Chg%
    List Price    		YoY Chg
    11/24$1,926,000-1%3115%149-13%138-5%96.5%7.3%
    10/24$1,938,000-1%27-4%171-9%14616%96.4%9.0%
    09/24$1,950,0001%2817%1888%126-2%96.6%10.9%
    08/24$1,934,000-1%249%174-5%1282%97.5%6.6%
    07/24$1,948,000-3%2222%1832%1257%98.9%4.7%
    06/24$1,999,000-1%18-5%179-5%11717%100.0%4.1%
    05/24$2,024,000-1%19-5%18911%10018%100.4%6.5%
    04/24$2,039,0004%20-17%17120%858%100.5%13.7%
    03/24$1,960,000-3%24-4%14221%795%100.1%18.3%
    02/24$2,024,0001%25-14%11717%75-12%99.4%27.0%
    01/24$2,005,000-0%2912%100-2%85-6%97.7%25.5%
    12/23$2,013,00012%26-4%102-20%90-10%96.9%24.0%
    11/23$1,795,0001%2723%128-15%1004%97.2%13.1%
    10/23$1,778,0001%2216%151-19%96-5%98.3%10.2%
    09/23$1,759,000-3%1927%186-3%101-3%98.5%3.3%
    08/23$1,815,000-2%157%1917%1041%99.6%0.7%
    07/23$1,861,000-3%140%17915%1036%100.0%2.2%
    06/23$1,920,0001%14-26%156-3%9723%100.3%3.0%
    Continue reading →

    Home Value Update: October 2024

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    U.S. existing-home sales unexpectedly slipped 1.0% month-over-month and 3.5% year-over-year to a seasonally adjusted annual rate of 3.84 million, the lowest level in more than a decade, according to the National Association of REALTORS® (NAR). Prospective buyers have pulled back in recent months,
    despite lower mortgage rates and more home choices compared to the same time last year.

    • Closed Sales increased 11.7 percent for Detached homes but decreased 12.9 percent for Attached homes.
    • Pending Sales increased 13.6 percent for Detached homes and 2.2 percent for Attached homes.
    • The Median Sales Price was up 0.7 percent to $1,157,500 for Detached homes and 6.5 percent to $775,000 for Attached homes.
    • Days on Market increased 15.4 percent for Detached homes and 63.2 percent for Attached homes.
    • Supply increased 13.0 percent for Detached homes and 25.0 percent for Attached homes.

    There were 1.39 million homes for sale heading into October, a 1.5% increase from the previous month and a 23% increase from the same period last year, for a 4.3-month supply at the current sales pace, according to NAR. Even with improving supply and the slower sales pace, home prices have continued to
    rise nationwide, with NAR reporting a median existing-home price of $404,500 as of last measure, a 3% increase from one year ago.

    The numbers by city:
    These numbers are for Single Family Detached homes and do not include Attached Homes, aka condos and townhomes.
    DOM = Days on Market
    % List Price = Percentage of the original list price that the home sold for.

    Carlsbad

    MonthAvg Sold $ChgDOMChgSold
    Homes    		ChgActive
    Listings    		Chg%
    List Price    		YoY Chg
    10/24$1,938,000-1%27-4%171-9%14616%96.4%9.0%
    09/24$1,950,0001%2817%1888%126-2%96.6%10.9%
    08/24$1,934,000-1%249%174-5%1282%97.5%6.6%
    07/24$1,948,000-3%2222%1832%1257%98.9%4.7%
    06/24$1,999,000-1%18-5%179-5%11717%100.0%4.1%
    05/24$2,024,000-1%19-5%18911%10018%100.4%6.5%
    04/24$2,039,0004%20-17%17120%858%100.5%13.7%
    03/24$1,960,000-3%24-4%14221%795%100.1%18.3%
    02/24$2,024,0001%25-14%11717%75-12%99.4%27.0%
    01/24$2,005,000-0%2912%100-2%85-6%97.7%25.5%
    12/23$2,013,00012%26-4%102-20%90-10%96.9%24.0%
    11/23$1,795,0001%2723%128-15%1004%97.2%13.1%
    10/23$1,778,0001%2216%151-19%96-5%98.3%10.2%
    09/23$1,759,000-3%1927%186-3%101-3%98.5%3.3%
    08/23$1,815,000-2%157%1917%1041%99.6%0.7%
    07/23$1,861,000-3%140%17915%1036%100.0%2.2%
    06/23$1,920,0001%14-26%156-3%9723%100.3%3.0%
    05/23$1,900,0006%19-17%16115%7922%100.0%2.4%
    Continue reading →

    Home Value Update: September 2024

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    U.S. existing-home sales slid 2.5% month-over-month and 4.2% year-over- year to a seasonally adjusted annual rate of 3.86 million units, according to the National Association of REALTORS® (NAR). Meanwhile, home prices have continued to reach record heights nationwide, with NAR reporting a median sales price of $416,700 as of last measure, a 3.1% increase from the same time last year and a new high for the month.

    Amid slower home sales, inventory has continued to grow across the country. According to NAR, there were 1.35 million units for sale heading into September, a 0.7% increase from the previous month and a 22.7% jump from the same time last year. And while monthly existing-home sales were lower than expected this period, NAR Chief Economist Lawrence Yun believes that the rise in inventory, along with lower mortgage rates, should help sales improve in the months ahead.

    North San Diego County Stats for September:

    • Closed Sales increased 0.2 percent for Detached homes but decreased 3.4 percent for Attached homes.
    • Pending Sales increased 12.0 percent for Detached homes and 2.0 percent for Attached homes.
    • The Median Sales Price was up 7.8 percent to $1,200,000 for Detached homes and 5.2 percent to $749,000 for Attached homes.
    • Days on Market increased 16.0 percent for Detached homes and 100.0 percent for Attached
    • homes.
    • Supply increased 13.0 percent for Detached homes and 31.6 percent for Attached homes.

    The numbers by city:
    These numbers are for Single Family Detached homes and do not include Attached Homes, aka condos and townhomes.
    DOM = Days on Market
    % List Price = Percentage of the original list price that the home sold for.

    Carlsbad

    MonthAvg Sold $ChgDOMChgSold
    Homes    		ChgActive
    Listings    		Chg%
    List Price    		YoY Chg
    09/24$1,950,0001%2817%1888%126-2%96.6%10.9%
    08/24$1,934,000-1%249%174-5%1282%97.5%6.6%
    07/24$1,948,000-3%2222%1832%1257%98.9%4.7%
    06/24$1,999,000-1%18-5%179-5%11717%100.0%4.1%
    05/24$2,024,000-1%19-5%18911%10018%100.4%6.5%
    04/24$2,039,0004%20-17%17120%858%100.5%13.7%
    03/24$1,960,000-3%24-4%14221%795%100.1%18.3%
    02/24$2,024,0001%25-14%11717%75-12%99.4%27.0%
    01/24$2,005,000-0%2912%100-2%85-6%97.7%25.5%
    12/23$2,013,00012%26-4%102-20%90-10%96.9%24.0%
    11/23$1,795,0001%2723%128-15%1004%97.2%13.1%
    10/23$1,778,0001%2216%151-19%96-5%98.3%10.2%
    09/23$1,759,000-3%1927%186-3%101-3%98.5%3.3%
    08/23$1,815,000-2%157%1917%1041%99.6%0.7%
    07/23$1,861,000-3%140%17915%1036%100.0%2.2%
    06/23$1,920,0001%14-26%156-3%9723%100.3%3.0%
    05/23$1,900,0006%19-17%16115%7922%100.0%2.4%
    04/23$1,793,0008%23-26%1409%655%98.4%-0.8%
    Continue reading →

    Home Value Update: July 2024

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    U.S. existing home sales fell 5.4% month-over-month and 5.4% year-over- year to a seasonally adjusted annual rate of 3.89 million units, with monthly sales down in all four regions, according to the National Association of REALTORS® (NAR). Higher mortgage rates, along with rising sales prices, have kept many prospective buyers on the sidelines, despite more home choices and less competition for those homes.

    Home prices have maintained their upward trend across much of the country, even as sales slow and inventory improves. According to NAR, the national median existing-home sales price climbed 4.1% year-over-year to $426,900 as of last measure, an all-time high. Meanwhile, total housing inventory
    increased 3.1% month-over-month to 1.32 million units heading into July, the highest level since 2020, for a 4.1-month supply at the current sales pace.

    North San Diego County Stats:

    • Closed Sales increased 6.9 percent for Detached homes and 14.8 percent for Attached homes.
    • Pending Sales decreased 5.2 percent for Detached homes but increased 20.3 percent for Attached homes.
    • The Median Sales Price was up 4.0 percent to $1,170,000 for Detached homes and 9.0 percent to $765,000 for Attached homes.
    • Days on Market increased 14.3 percent for Detached homes and 37.5 percent for Attached homes.
    • Supply increased 13.6 percent for Detached homes and 35.3 percent for Attached homes.

    The numbers by city:
    These numbers are for Single Family Detached homes and do not include
    Attached Homes, aka condos and townhomes.
    DOM = Days on Market
    % List Price = Percentage of the original list price that the home sold for.

    Carlsbad

    MonthAvg Sold $ChgDOMChgSold
    Homes    		ChgActive
    Listings    		Chg%
    List Price    		YoY Chg
    07/24$1,948,000 -3%2222%1832%1257%98.9%4.7%
    06/24$1,999,000 -1%18-5%179-5%11717%100.0%4.1%
    05/24$2,024,000 -1%19-5%18911%10018%100.4%6.5%
    04/24$2,039,000 4%20-17%17120%858%100.5%13.7%
    03/24$1,960,000 -3%24-4%14221%795%100.1%18.3%
    02/24$2,024,000 1%25-14%11717%75-12%99.4%27.0%
    01/24$2,005,000 -0%2912%100-2%85-6%97.7%25.5%
    12/23$2,013,000 12%26-4%102-20%90-10%96.9%24.0%
    11/23$1,795,000 1%2723%128-15%1004%97.2%13.1%
    10/23$1,778,000 1%2216%151-19%96-5%98.3%10.2%
    09/23$1,759,000 -3%1927%186-3%101-3%98.5%3.3%
    08/23$1,815,000 -2%157%1917%1041%99.6%0.7%
    07/23$1,861,000 -3%140%17915%1036%100.0%2.2%
    06/23$1,920,000 1%14-26%156-3%9723%100.3%3.0%
    05/23$1,900,000 6%19-17%16115%7922%100.0%2.4%
    04/23$1,793,000 8%23-26%1409%655%98.4%-0.8%
    03/23$1,657,000 4%310%12835%62-2%96.9%0.8%
    02/23$1,594,000 -0%3111%95-17%63-19%95.5%5.1%
    Continue reading →

    Home Value Update: June 2024

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    U.S. existing-home sales declined for the third consecutive month, as higher mortgage rates and rising sales prices hindered market activity during what has traditionally been one of the busiest months of the year. According to the National Association of REALTORS® (NAR), sales of previously owned homes dipped 0.7% month-over-month and 2.8% year-over-year, to a seasonally adjusted annual rate of 4.11 million units.

    Nationally, total housing inventory grew 6.7% month-over-month to 1.28 million units heading into June, for a 3.7 months’ supply at the current sales pace, according to NAR. However, the increase in supply has yet to temper home prices, which have continued to rise nationwide. At last measure, the median existing-home price climbed to $419,300, a 5.8% increase from the same period last year and a record high for the month.

    North San Diego County Home Stats:

    • Closed Sales decreased 7.8 percent for Detached homes and 13.6 percent for Attached homes.
    • Pending Sales decreased 0.3 percent for Detached homes and 4.4 percent for Attached homes.
    • The Median Sales Price was up 13.9 percent to $1,249,000 for Detached homes and 7.7 percent to $765,000 for Attached homes.
    • Days on Market increased 22.2 percent for Detached homes and 43.8 percent for Attached homes.
    • Supply increased 8.7 percent for Detached homes and 35.3 percent for Attached homes.

    The numbers by city:
    These #’s are for Single Family Detached homes and do not include Attached Homes, aka condos and townhomes.
    DOM = Days on Market
    % List Price = Percentage of the original list price that the home sold for.

    Carlsbad

    MonthAvg
    Sold $    		ChgDOMChgSold HomesChgActive ListingsChg% List PriceYoY Chg
    06/24$1,999,000-1%18-5%179-5%11717%100.0%4.1%
    05/24$2,024,000-1%19-5%18911%10018%100.4%6.5%
    04/24$2,039,0004%20-17%17120%858%100.5%13.7%
    03/24$1,960,000-3%24-4%14221%795%100.1%18.3%
    02/24$2,024,0001%25-14%11717%75-12%99.4%27.0%
    01/24$2,005,000-0%2912%100-2%85-6%97.7%25.5%
    12/23$2,013,00012%26-4%102-20%90-10%96.9%24.0%
    11/23$1,795,0001%2723%128-15%1004%97.2%13.1%
    10/23$1,778,0001%2216%151-19%96-5%98.3%10.2%
    09/23$1,759,000-3%1927%186-3%101-3%98.5%3.3%
    08/23$1,815,000-2%157%1917%1041%99.6%0.7%
    07/23$1,861,000-3%140%17915%1036%100.0%2.2%
    06/23$1,920,0001%14-26%156-3%9723%100.3%3.0%
    05/23$1,900,0006%19-17%16115%7922%100.0%2.4%
    04/23$1,793,0008%23-26%1409%655%98.4%-0.8%
    03/23$1,657,0004%310%12835%62-2%96.9%0.8%
    02/23$1,594,000-0%3111%95-17%63-19%95.5%5.1%
    01/23$1,598,000-2%280%114-10%78-21%95.9%4.1%
    Continue reading →

    Home Value Update: May 2024

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    U.S. existing-home sales fell for the second month in a row, sliding 1.9% month-over-month and 1.9% year-over-year, according to the National Association of REALTORS® (NAR), with sales down in all four regions of the country.

    Higher borrowing costs and accelerating home prices continue to weigh on demand, pushing some prospective buyers to the sidelines and causing market activity to slump ahead of summer.

    • Closed Sales increased 2.2 percent for Detached homes but decreased 0.7 percent for Attached homes.
    • Pending Sales increased 8.0 percent for Detached homes and 2.4 percent for Attached homes.
    • The Median Sales Price was up 14.3 percent to $1,200,000 for Detached homes and 20.4 percent to $825,000 for Attached homes.
    • Days on Market decreased 8.0 percent for Detached homes but increased 5.0 percent for Attached homes.
    • Supply increased 4.8 percent for Detached homes and 20.0 percent for Attached homes.

    Home prices have continued to climb nationwide, despite an uptick in inventory this year. Nationally, the median existing-home price reached $407,600 as of last measure, a 5.7% increase from the same period last year and a record high for the month, according to NAR. Meanwhile, total inventory heading into May stood at 1.21 million units, a 9% increase month-over month and a 16.3% increase year-over-year, for a 3.5 month’s supply at the current sales pace.

    The numbers by city:
    These #’s are for Single Family Detached homes and do not include Attached Homes, aka condos and townhomes.
    DOM = Days on Market
    % List Price = Percentage of the original list price that the home sold for.

    Carlsbad

    MonthAvg
    Sold $    		ChgDOMChgSold HomesChgActive ListingsChg% List PriceYoY Chg
    05/24$2,024,000-1%19-5%18911%10018%100.4%6.5%
    04/24$2,039,0004%20-17%17120%858%100.5%13.7%
    03/24$1,960,000-3%24-4%14221%795%100.1%18.3%
    02/24$2,024,0001%25-14%11717%75-12%99.4%27.0%
    01/24$2,005,000-0%2912%100-2%85-6%97.7%25.5%
    12/23$2,013,00012%26-4%102-20%90-10%96.9%24.0%
    11/23$1,795,0001%2723%128-15%1004%97.2%13.1%
    10/23$1,778,0001%2216%151-19%96-5%98.3%10.2%
    09/23$1,759,000-3%1927%186-3%101-3%98.5%3.3%
    08/23$1,815,000-2%157%1917%1041%99.6%0.7%
    07/23$1,861,000-3%140%17915%1036%100.0%2.2%
    06/23$1,920,0001%14-26%156-3%9723%100.3%3.0%
    05/23$1,900,0006%19-17%16115%7922%100.0%2.4%
    04/23$1,793,0008%23-26%1409%655%98.4%-0.8%
    03/23$1,657,0004%310%12835%62-2%96.9%0.8%
    02/23$1,594,000-0%3111%95-17%63-19%95.5%5.1%
    01/23$1,598,000-2%280%114-10%78-21%95.9%4.1%
    12/22$1,623,0002%28-7%127-19%99-14%94.4%4.9%
    Continue reading →

    Home Value Update April 2024

    Posted by

    U.S. existing-home sales recently fell from a one-year high, dropping 4.3% month-over-month to a seasonally adjusted annual rate of 4.19 million, according to the National Association of REALTORS® (NAR), as higher interest rates and rising sales prices continue to keep some prospective buyers on the sidelines. Average 30-year mortgage rates have topped 7% in recent weeks, while the median existing-home sales price hit $393,500 as of last measure, a 4.8% increase from the previous month, according to NAR.

    • Closed Sales increased 12.8 percent for Detached homes and 1.5 percent for Attached homes.
    • Pending Sales increased 2.4 percent for Detached homes and 1.2 percent for Attached homes.
    • The Median Sales Price was up 21.2 percent to $1,260,000 for Detached homes and 5.0 percent to $737,500 for Attached homes.
    • Days on Market decreased 25.0 percent for Detached homes and 19.2 percent for Attached homes.
    • Supply increased 11.1 percent for Detached homes and 28.6 percent for Attached homes.

    Warmer temperatures appear to have helped bring some sellers back to the market, providing additional options to home shoppers during the spring buying season. Total inventory was up 4.7% month-over-month and 14.4% year-over-year, for a 3.2 months’ supply at the current sales pace, according to NAR. Nevertheless, demand continues to outpace supply and properties are selling quickly, with the typical home spending 33 days on market nationwide, down from 38 days the month before.

    The numbers by city:
    These #’s are for Single Family Detached homes and do not include Attached Homes, aka condos and townhomes.
    DOM = Days on Market
    % List Price = Percentage of the original list price that the home sold for.

    Carlsbad

    MonthAvg
    Sold $    		ChgDOMChgSold HomesChgActive ListingsChg% List PriceYoY Chg
    04/24$2,039,0004%20-17%17120%858%100.5%13.7%
    03/24$1,960,000-3%24-4%14221%795%100.1%18.3%
    02/24$2,024,0001%25-14%11717%75-12%99.4%27.0%
    01/24$2,005,000-0%2912%100-2%85-6%97.7%25.5%
    12/23$2,013,00012%26-4%102-20%90-10%96.9%24.0%
    11/23$1,795,0001%2723%128-15%1004%97.2%13.1%
    10/23$1,778,0001%2216%151-19%96-5%98.3%10.2%
    09/23$1,759,000-3%1927%186-3%101-3%98.5%3.3%
    08/23$1,815,000-2%157%1917%1041%99.6%0.7%
    07/23$1,861,000-3%140%17915%1036%100.0%2.2%
    06/23$1,920,0001%14-26%156-3%9723%100.3%3.0%
    05/23$1,900,0006%19-17%16115%7922%100.0%2.4%
    04/23$1,793,0008%23-26%1409%655%98.4%-0.8%
    03/23$1,657,0004%310%12835%62-2%96.9%0.8%
    02/23$1,594,000-0%3111%95-17%63-19%95.5%5.1%
    01/23$1,598,000-2%280%114-10%78-21%95.9%4.1%
    12/22$1,623,0002%28-7%127-19%99-14%94.4%4.9%
    11/22$1,587,000-2%300%156-4%115-9%94.0%3.1%
    Continue reading →

    Home Value Update March 2024

    Posted by

    U.S. existing-home sales improved for the second month in a row, jumping 9.5% to a seasonally adjusted annual rate of 4.38 million units, exceeding economists’ expectations and marking the largest monthly gain in a year, according to the National Association of REALTORS®(NAR). The rebound in home sales comes amid fluctuating mortgage rates and elevated sales prices, indicating there is plenty of buyer demand heading into the spring selling season.

    • Closed Sales decreased 18.3 percent for Detached homes and 7.3 percent for Attached homes.
    • Pending Sales increased 4.0 percent for Detached homes but decreased 8.5 percent for Attached homes.
    • The Median Sales Price was up 18.0 percent to $1,180,351 for Detached homes and 7.9 percent to $749,995 for Attached homes.
    • Days on Market decreased 30.6 percent for Detached homes and 26.7 percent for Attached homes.
    • Supply decreased 11.1 percent for Detached homes but increased 7.7 percent for Attached homes.

    The recent surge in home sales was likely due to a dip in mortgage rates in December and an increase in housing supply nationwide. According to NAR, total inventory grew 5.9% month-over-month and 10.3% year-over-year to 1.07 million units, for a 2.9 months’ supply at the current sales pace. Buyer demand remains robust, and the limited supply of inventory helped push the median existing-home sales price up 5.7% year-over-year to $384,500, the eighth consecutive month of annual price increases.

    The Numbers by City:

    These #’s are for Single Family Detached homes and do not include Attached Homes, aka condos and townhomes.
    DOM = Days on Market
    % List Price = Percentage of the original list price that the home sold for.

    Carlsbad

    MonthAvg
    Sold $    		ChgDOMChgSold HomesChgActive ListingsChg% List PriceYoY Chg
    03/24$1,960,000-3%24-4%14221%795%100.1%18.3%
    02/24$2,024,0001%25-14%11717%75-12%99.4%27.0%
    01/24$2,005,000-0%2912%100-2%85-6%97.7%25.5%
    12/23$2,013,00012%26-4%102-20%90-10%96.9%24.0%
    11/23$1,795,0001%2723%128-15%1004%97.2%13.1%
    10/23$1,778,0001%2216%151-19%96-5%98.3%10.2%
    09/23$1,759,000-3%1927%186-3%101-3%98.5%3.3%
    08/23$1,815,000-2%157%1917%1041%99.6%0.7%
    07/23$1,861,000-3%140%17915%1036%100.0%2.2%
    06/23$1,920,0001%14-26%156-3%9723%100.3%3.0%
    05/23$1,900,0006%19-17%16115%7922%100.0%2.4%
    04/23$1,793,0008%23-26%1409%655%98.4%-0.8%
    03/23$1,657,0004%310%12835%62-2%96.9%0.8%
    02/23$1,594,000-0%3111%95-17%63-19%95.5%5.1%
    01/23$1,598,000-2%280%114-10%78-21%95.9%4.1%
    12/22$1,623,0002%28-7%127-19%99-14%94.4%4.9%
    11/22$1,587,000-2%300%156-4%115-9%94.0%3.1%
    10/22$1,614,000-5%3025%162-14%127-16%94.9%5.0%
    Continue reading →