Monthly Indicators

Home Value Update: July 2023

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Inventory is still very low in all areas. With interest rates approaching 7% again, doubtful that will change soon.

Carlsbad: Home prices are beginning to soften a bit. Active listings and the number of sold homes are up.

MonthAvg
Sold $		ChgDOMChgSold HomesChgAct. ListingsChg% List PriceYoY Chg
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%
09/22$1,703,600-5%2441%188-12%151-11%95.8%14.3%
08/22$1,802,279-1%1742%213-4%1691%98.9%22.4%
07/22$1,821,026-2%1220%223-4%16719%102.8%27.6%
06/22$1,863,6240%100%2334%14037%106.7%29.5%
05/22$1,855,9693%10-17%2236%10236%109.4%26.2%
04/22$1,807,47110%12-20%21012%759%109.5%23.3%
03/22$1,643,4658%15-12%187-6%69-5%107.4%16.1%
02/22$1,516,065-1%176%198-14%73-17%104.4%20.7%
01/22$1,535,059-1%160%231-17%88-15%103.0%30.4%
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Home Value Update: December 2022

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Downward pressure on home values continues, however it weakened somewhat with Carlsbad and Oceanside home values going positive for the month of December.

Home values peaked in the June, July, August time frame, depending on the area.

Average Sold price, Days on Market, Number of Homes Sold, Active Listings on the market and the % of List Price the Seller Received. Along with the month to month change. I have also added in the Year over Year change to value.

Carlsbad: Down -12.9% from June 2022 Peak

MonthAvg
Sold $		ChgDOMChgSold
Homes		ChgActive
Listings		Chg% List
Price		YoY Chg
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%
09/22$1,703,600-5%2441%188-12%151-11%95.8%14.3%
08/22$1,802,279-1%1742%213-4%1691%98.9%22.4%
07/22$1,821,026-2%1220%223-4%16719%102.8%27.6%
06/22$1,863,6240%100%2334%14037%106.7%29.5%
05/22$1,855,9693%10-17%2236%10236%109.4%26.2%
04/22$1,807,47110%12-20%21012%759%109.5%23.3%
03/22$1,643,4658%15-12%187-6%69-5%107.4%16.1%
02/22$1,516,065-1%176%198-14%73-17%104.4%20.7%
01/22$1,535,059-1%160%231-17%88-15%103.0%30.4%
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Home Value Update: November 2022

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Downward pressure on home values continues.
Home values peaked in the June, July, August time frame, depending on the area.

Average Sold price, Days on Market, Number of Homes Sold, Active Listings on the market and the % of List Price the Seller Received. Along with the month to month change. I have also added in the Year over Year change to value.

Carlsbad: Down -14.8% from June 2022 Peak

MonthAvg
Sold $		ChgDOMChgSold
Homes		ChgActive
Listings		Chg% List
Price		YoY Chg
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%
09/22$1,703,600-5%2441%188-12%151-11%95.8%14.3%
08/22$1,802,279-1%1742%213-4%1691%98.9%22.4%
07/22$1,821,026-2%1220%223-4%16719%102.8%27.6%
06/22$1,863,6240%100%2334%14037%106.7%29.5%
05/22$1,855,9693%10-17%2236%10236%109.4%26.2%
04/22$1,807,47110%12-20%21012%759%109.5%23.3%
03/22$1,643,4658%15-12%187-6%69-5%107.4%16.1%
02/22$1,516,065-1%176%198-14%73-17%104.4%20.7%
01/22$1,535,059-1%160%231-17%88-15%103.0%30.4%
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Home Price Update

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Downward pressure on home values continues.
Home values peaked in the June, July, August time frame, depending on the area.

Average Sold price, Days on Market, Number of Homes Sold, Active Listings on the market and the % of List Price the Seller Received. Along with the month to month change. I have also added in the Year over Year change to value.

Carlsbad:

MonthAvg
Sold $		ChgDOMChgSold
Homes		ChgActive
Listings		Chg% List
Price		YoY Chg
10/22$1,614,000-5%3025%162-14%127-16%94.9%5.0%
09/22$1,703,600-5%2441%188-12%151-11%95.8%14.3%
08/22$1,802,279-1%1742%213-4%1691%98.9%22.4%
07/22$1,821,026-2%1220%223-4%16719%102.8%27.6%
06/22$1,863,6240%100%2334%14037%106.7%29.5%
05/22$1,855,9693%10-17%2236%10236%109.4%26.2%
04/22$1,807,47110%12-20%21012%759%109.5%23.3%
03/22$1,643,4658%15-12%187-6%69-5%107.4%16.1%
02/22$1,516,065-1%176%198-14%73-17%104.4%20.7%
01/22$1,535,059-1%160%231-17%88-15%103.0%30.4%
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Prices, DOM & Price Received: Values Have Peaked?

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A look back over the last 12 months.

Average Sold price, Days on Market, Number of Homes Sold, Active Listings on the market and the % of List Price the Seller Received. Along with the month to month change.

As you can see, the interest rate hikes are being felt. Home values peaked in the June, July, August time frame, depending on the area.

The question now, how much of a pull back will there be?

Carlsbad:

MonthAvg
Sold $		ChgDOMChgSold
Homes		ChgActive
Listings		Chg% List
Price
09/22$1,703,600-5%2441%188-12%151-11%95.8%
08/22$1,802,279-1%1742%213-4%1691%98.9%
07/22$1,821,026-2%1220%223-4%16719%102.8%
06/22$1,863,6240%100%2334%14037%106.7%
05/22$1,855,9693%10-17%2236%10236%109.4%
04/22$1,807,47110%12-20%21012%759%109.5%
03/22$1,643,4658%15-12%187-6%69-5%107.4%
02/22$1,516,065-1%176%198-14%73-17%104.4%
01/22$1,535,059-1%160%231-17%88-15%103.0%
12/22$1,547,0571%167%279-9%103-17%102.0%
11/22$1,538,7680%157%308-3%124-13%101.3%
10/22$1,536,5703%148%319-5%142-15%102.0%
09/22$1,490,8401%138%335-3%168-5%103.4%
08/22$1,472,9433%120%345-1%1770%105.5%
07/22$1,427,206-1%12-8%347-5%1776%106.1%
06/22$1,439,564-2%130%3649%1672%106.1%
05/22$1,471,0580%13-7%3349%1632%105.4%
04/22$1,465,9964%14-22%30731%16012%104.0%
03/22$1,415,60213%18-14%235-9%1436%102.2%
02/22$1,255,9897%21-5%258-18%1350%100.2%
01/22$1,177,092 22 314 135 99.7%
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Monthly Market Overview North San Diego County August 2022  

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Summer 2022 has been a season of change for the U.S. real estate market. With housing affordability at a 33-year low, existing-home sales have continued to soften nationwide, falling 5.9% month-to-month and 20.9% year over-year as of last measure, according to the National Association of REALTORS® (NAR). Pending home sales have also continued to decline, while new listings have steadily increased, with unsold inventory reaching 3.3 months’ supply at the start of August. The pullback in demand has been
particularly hard on homebuilders, causing new-home sales and construction to slow.

  • Closed Sales decreased 34.2 percent for Detached homes and 27.1 percent for Attached homes.
  • Pending Sales decreased 32.9 percent for Detached homes and 31.3 percent for Attached homes.
  • The Median Sales Price was up 4.8 percent to $985,000 for Detached homes and 15.9 percent to $672,500 for Attached homes.
  • Days on Market increased 60.0 percent for Detached homes and 75.0 percent for Attached homes.
    Supply increased 20.0 percent for Detached homes and 45.5 percent for Attached homes.

Inflation, higher interest rates, and fears of a potential recession have taken a toll on buyers and sellers this summer, leading many people to stay on the sidelines to see what will happen with the market. But some experts, including NAR Chief Economist Lawrence Yun, believe the worst of inflation may be over. Although sales prices remain up from this time last year, price growth is expected to moderate in the months ahead as the market continues to shift in a more buyer-friendly direction.

San Diego North County Monthly Housing Market Indicators August 2022

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Monthly-0822