National sales of existing homes recently fell to a 7-month low, as surging borrowing costs, rising sales prices, and limited inventory continue to keep many would-be buyers out of the market. Borrowers have become increasingly sensitive to fluctuations in mortgage rates, which have remained above 7% since mid-August. With fewer buyers able to afford the costs of homeownership, existing-home sales declined 0.7% month-over-month and were down 15.3% year-over-year, according to the National Association of
REALTORS®(NAR).
- Closed Sales decreased 23.1 percent for Detached homes and 25.0 percent for Attached homes.
- Pending Sales decreased 14.3 percent for Detached homes but increased 0.8 percent for Attached homes.
- The Median Sales Price was up 15.1 percent to $1,122,500 for Detached homes and 8.5 percent to $705,571 for Attached homes.
- Days on Market decreased 13.8 percent for Detached homes and 44.4 percent for Attached homes. Supply decreased 32.0 percent for Detached homes and 33.3 percent for Attached homes.
Prices have continued to increase this fall despite softening home sales nationwide, as a lack of inventory has kept the market competitive for prospective buyers, sparking bidding wars and causing homes to sell for above asking price in some areas.
Heading into September there were only 1.1 million units available for sale, 0.9% fewer than a month ago and 14.1% fewer than the same period last year, according to NAR. As a result, the U.S. median existing-home sales price rose 3.9% year-over-year to $407,100, marking the third consecutive month that the median sales price topped $400,000.
Here is a look at the numbers for cities:
Carlsbad
Month | Avg Sold $ | Chg | DOM | Chg | Sold Homes | Chg | Act. Listings | Chg | % List Price | YoY Chg |
09/23 | $1,759,000 | -3% | 19 | 27% | 186 | -3% | 101 | -3% | 98.5% | 3.3% |
08/23 | $1,815,000 | -2% | 15 | 7% | 191 | 7% | 104 | 1% | 99.6% | 0.7% |
07/23 | $1,861,000 | -3% | 14 | 0% | 179 | 15% | 103 | 6% | 100.0% | 2.2% |
06/23 | $1,920,000 | 1% | 14 | -26% | 156 | -3% | 97 | 23% | 100.3% | 3.0% |
05/23 | $1,900,000 | 6% | 19 | -17% | 161 | 15% | 79 | 22% | 100.0% | 2.4% |
04/23 | $1,793,000 | 8% | 23 | -26% | 140 | 9% | 65 | 5% | 98.4% | -0.8% |
03/23 | $1,657,000 | 4% | 31 | 0% | 128 | 35% | 62 | -2% | 96.9% | 0.8% |
02/23 | $1,594,000 | -0% | 31 | 11% | 95 | -17% | 63 | -19% | 95.5% | 5.1% |
01/23 | $1,598,000 | -2% | 28 | 0% | 114 | -10% | 78 | -21% | 95.9% | 4.1% |
12/22 | $1,623,000 | 2% | 28 | -7% | 127 | -19% | 99 | -14% | 94.4% | 4.9% |
11/22 | $1,587,000 | -2% | 30 | 0% | 156 | -4% | 115 | -9% | 94.0% | 3.1% |
10/22 | $1,614,000 | -5% | 30 | 25% | 162 | -14% | 127 | -16% | 94.9% | 5.0% |
09/22 | $1,703,600 | -5% | 24 | 41% | 188 | -12% | 151 | -11% | 95.8% | 14.3% |
08/22 | $1,802,279 | -1% | 17 | 42% | 213 | -4% | 169 | 1% | 98.9% | 22.4% |
07/22 | $1,821,026 | -2% | 12 | 20% | 223 | -4% | 167 | 19% | 102.8% | 27.6% |
06/22 | $1,863,624 | 0% | 10 | 0% | 233 | 4% | 140 | 37% | 106.7% | 29.5% |
05/22 | $1,855,969 | 3% | 10 | -17% | 223 | 6% | 102 | 36% | 109.4% | 26.2% |
04/22 | $1,807,471 | 10% | 12 | -20% | 210 | 12% | 75 | 9% | 109.5% | 23.3% |
03/22 | $1,643,465 | 8% | 15 | -12% | 187 | -6% | 69 | -5% | 107.4% | 16.1% |
02/22 | $1,516,065 | -1% | 17 | 6% | 198 | -14% | 73 | -17% | 104.4% | 20.7% |
01/22 | $1,535,059 | -1% | 16 | 0% | 231 | -17% | 88 | -15% | 103.0% | 30.4% |
Encinitas
Month | Avg Sold $ | Chg | DOM | Chg | Sold Homes | Chg | Act. Listings | Chg | % List Price | YoY Chg |
09/23 | $2,698,000 | 2% | 27 | 29% | 79 | -4% | 47 | -2% | 100.0% | 3.6% |
08/23 | $2,640,000 | 3% | 21 | -5% | 82 | 0% | 48 | 7% | 100.0% | -1.1% |
07/23 | $2,560,000 | 1% | 22 | 16% | 82 | -1% | 45 | 0% | 99.7% | -3.4% |
06/23 | $2,523,000 | 1% | 19 | -21% | 83 | 2% | 45 | 2% | 98.7% | -2.7% |
05/23 | $2,496,000 | -4% | 24 | -11% | 81 | 31% | 44 | 13% | 98% | -3.7% |
04/23 | $2,592,000 | 2% | 27 | -18% | 62 | 19% | 39 | 3% | 97.1% | 6.4% |
03/23 | $2,542,000 | 22% | 33 | -8% | 52 | 0% | 38 | -16% | 94.9% | 17.2% |
02/23 | $2,077,000 | 2% | 36 | 13% | 52 | 0% | 45 | -4% | 92.2% | 1.2% |
01/23 | $2,028,000 | -10% | 32 | -3% | 52 | -15% | 47 | -10% | 93.4% | -5.9% |
12/22 | $2,255,000 | -4% | 33 | 18% | 61 | -5% | 52 | -5% | 92.5% | 1.3% |
11/22 | $2,343,000 | -6% | 28 | -10% | 64 | -7% | 55 | 4% | 93.4% | 3.9% |
10/22 | $2,505,000 | -4% | 31 | 11% | 69 | 1% | 53 | -5% | 93.2% | 10.3% |
09/22 | $2,604,000 | -2% | 28 | 40% | 68 | -3% | 56 | -3% | 94.4% | 13.3% |
08/22 | $2,668,944 | 1% | 20 | 54% | 70 | -17% | 58 | 4% | 98.1% | 25.6% |
07/22 | $2,650,404 | 2% | 13 | 0% | 84 | -18% | 56 | 14% | 103.1% | 31.3% |
06/22 | $2,592,614 | 0% | 13 | -19% | 103 | -9% | 49 | 20% | 105.6% | 31.3% |
05/22 | $2,590,593 | 6% | 16 | 7% | 113 | 18% | 41 | 21% | 106.7% | 30.1% |
04/22 | $2,435,887 | 12% | 15 | -25% | 96 | 12% | 34 | -6% | 106.9% | 24.8% |
03/22 | $2,169,582 | 6% | 20 | -9% | 86 | 8% | 36 | -14% | 104.7% | 17.3% |
02/22 | $2,052,570 | -5% | 22 | -19% | 80 | -7% | 42 | -19% | 103.1% | 17.5% |
01/22 | $2,155,319 | -3% | 27 | 13% | 86 | -7% | 52 | -13% | 101.8% | 27.7% |
Oceanside
Month | Avg Sold $ | Chg | DOM | Chg | Sold Homes | Chg | Active Listings | Chg | % List Price | YoY Chg |
09/23 | $995,000 | 2% | 16 | 14% | 239 | -8% | 102 | -7% | 101.4% | 10.0% |
08/23 | $971,000 | -0% | 14 | 0% | 259 | 7% | 110 | -1% | 101.5% | 4.9% |
07/23 | $974,000 | -2% | 14 | -22% | 243 | 3% | 111 | 10% | 102.1% | -0.6% |
06/23 | $997,000 | 1% | 18 | -33% | 236 | 2% | 101 | 6% | 101.1% | 2.6% |
05/23 | $988,000 | 0% | 27 | -18% | 232 | 12% | 95 | 17% | 100% | 0.9% |
04/23 | $984,000 | 7% | 33 | -11% | 208 | 7% | 81 | -21% | 98.5% | 5.6% |
03/23 | $923,000 | -2% | 37 | 9% | 194 | 10% | 103 | -18% | 97.2% | 3.0% |
02/23 | $938,000 | 1% | 34 | 0% | 176 | -7% | 125 | -15% | 96.1% | 14.0% |
01/23 | $933,000 | -0% | 34 | 17% | 190 | -16% | 147 | -15% | 95.2% | 9.5% |
12/22 | $934,000 | 3% | 29 | 4% | 225 | -11% | 173 | -9% | 95.3% | 9.8% |
11/22 | $911,000 | 3% | 28 | 12% | 254 | -14% | 190 | -2% | 95.4% | 3.9% |
10/22 | $885,000 | -2% | 25 | 4% | 296 | -2% | 193 | -6% | 97.4% | 6.3% |
09/22 | $904,283 | -2% | 24 | 33% | 303 | -1% | 206 | -8% | 96.8% | 11.3% |
08/22 | $926,014 | -5% | 18 | 38% | 307 | -4% | 223 | 2% | 99.1% | 15.5% |
07/22 | $979,524 | 1% | 13 | 18% | 321 | -17% | 218 | 14% | 102.3% | 23.2% |
06/22 | $971,761 | -1% | 11 | -15% | 385 | -9% | 191 | 24% | 104.8% | 21.9% |
05/22 | $979,346 | 5% | 13 | -13% | 421 | 9% | 154 | 18% | 105.8% | 25.8% |
04/22 | $931,893 | 4% | 15 | -12% | 386 | 21% | 130 | 5% | 105.7% | 21.6% |
03/22 | $896,065 | 9% | 17 | 6% | 318 | -2% | 124 | -5% | 104.7% | 19.7% |
02/22 | $823,005 | -3% | 16 | 7% | 324 | -11% | 130 | -10% | 103.1% | 18.4% |
01/22 | $852,143 | 0% | 15 | 7% | 364 | -15% | 144 | -7% | 102.9% | 24.9% |
San Marcos
Month | Avg Sold $ | Chg | DOM | Chg | Sold Homes | Chg | Active Listings | Chg | % List Price | YoY Chg |
09/23 | $1,208,000 | 2% | 18 | 0% | 109 | -13% | 39 | 0% | 100.7% | 15.4% |
08/23 | $1,185,000 | -0% | 18 | -14% | 125 | 1% | 39 | 5% | 101.1% | 7.9% |
07/23 | $1,186,000 | 3% | 21 | 11% | 124 | -6% | 37 | -12% | 100.6% | 3.8% |
06/23 | $1,154,000 | 3% | 19 | -5% | 132 | 5% | 42 | 5% | 100.1% | 4.9% |
05/23 | $1,123,000 | 1% | 20 | -29% | 126 | 13% | 40 | -9% | 99.3% | 3.4% |
04/23 | $1,113,000 | 9% | 28 | -20% | 112 | 8% | 44 | -19% | 98.7% | 5.6% |
03/23 | $1,017,000 | 2% | 35 | -3% | 104 | 16% | 54 | -17% | 97.3% | -1.9% |
02/23 | $996,000 | 2% | 36 | 24% | 90 | -14% | 65 | -14% | 95.5% | 1.5% |
01/23 | $972,000 | 2% | 29 | 7% | 105 | -15% | 76 | -16% | 95.2% | -2.1% |
12/22 | $951,000 | -2% | 27 | 8% | 123 | -22% | 90 | -11% | 94.6% | -1.0% |
11/22 | $974,000 | -1% | 25 | 9% | 158 | -3% | 101 | -6% | 95.0% | 2.8% |
10/22 | $985,000 | -6% | 23 | 10% | 163 | -8% | 107 | -8% | 95.8% | 6.4% |
09/22 | $1,047,000 | -5% | 21 | 31% | 177 | -3% | 116 | -6% | 96.9% | 11.5% |
08/22 | $1,098,000 | -4% | 16 | 23% | 183 | -11% | 123 | 6% | 99.8% | 13.8% |
07/22 | $1,143,000 | 4% | 13 | 8% | 205 | -8% | 116 | 20% | 102.9% | 17.7% |
06/22 | $1,100,617 | 1% | 12 | 0% | 222 | -1% | 97 | 28% | 105.0% | 14.8% |
05/22 | $1,085,769 | 3% | 12 | 0% | 224 | 11% | 76 | 13% | 106.7% | 19.0% |
04/22 | $1,053,808 | 2% | 12 | 0% | 201 | 10% | 67 | 8% | 107.3% | 18.6% |
03/22 | $1,036,353 | 6% | 12 | 0% | 183 | -4% | 62 | 3% | 106.9% | 24.5% |
02/22 | $981,319 | -1% | 12 | -20% | 190 | -6% | 60 | -5% | 105.0% | 21.0% |
01/22 | $993,196 | 3% | 15 | 0% | 203 | -11% | 63 | -7% | 103.0% | 26.5% |
Vista
Month | Avg Sold $ | Chg | DOM | Chg | Sold Homes | Chg | Active Listings | Chg | % List Price | YoY Chg |
09/23 | $994,000 | -0% | 19 | 19% | 167 | -2% | 74 | -12% | 100.8% | 9.2% |
08/23 | $998,000 | 2% | 16 | 7% | 170 | 16% | 84 | 2% | 101.4% | 8.7% |
07/23 | $982,000 | 2% | 15 | -6% | 147 | 20% | 82 | 6% | 102.1% | 7.6% |
06/23 | $964,000 | 3% | 16 | -20% | 123 | -8% | 77 | 38% | 100.2% | 1.6% |
05/23 | $936,000 | 0% | 20 | -13% | 134 | 8% | 56 | 10% | 99.3% | -1.0% |
04/23 | $935,000 | 8% | 23 | -21% | 124 | -6% | 51 | -16% | 98.7% | 0.9% |
03/23 | $863,000 | 3% | 29 | -17% | 132 | 27% | 61 | -10% | 97.5% | -3.7% |
02/23 | $835,000 | 2% | 35 | -3% | 104 | -10% | 68 | -22% | 95.3% | -5.5% |
01/23 | $820,000 | -1% | 36 | 20% | 116 | -6% | 87 | -19% | 94.2% | -7.2% |
12/22 | $828,000 | -3% | 30 | 11% | 124 | -24% | 107 | -18% | 95.3% | -3.6% |
11/22 | $851,945 | -6% | 27 | 17% | 163 | -11% | 131 | -11% | 95.9% | 2.2% |
10/22 | $906,273 | -0% | 23 | 21% | 183 | -9% | 147 | -10% | 96.6% | 13.6% |
09/22 | $910,549 | -1% | 19 | 19% | 201 | 3% | 163 | 3% | 97.4% | 15.3% |
08/22 | $918,464 | 1% | 16 | 33% | 196 | -14% | 159 | 10% | 98.6% | 18.5% |
07/22 | $913,029 | -4% | 12 | 9% | 227 | -12% | 144 | 21% | 101.7% | 18.4% |
06/22 | $948,425 | 0% | 11 | 10% | 258 | -3% | 119 | 24% | 105.5% | 24.0% |
05/22 | $945,910 | 2% | 10 | -9% | 267 | 12% | 96 | 17% | 107.0% | 25.8% |
04/22 | $926,864 | 3% | 11 | -21% | 238 | 11% | 82 | 15% | 107.4% | 28.8% |
03/22 | $896,549 | 1% | 14 | -13% | 214 | -3% | 71 | 9% | 104.8% | 30.0% |
02/22 | $883,560 | -0% | 16 | -6% | 220 | -8% | 65 | -12% | 103.4% | 34.0% |
01/22 | $883,907 | 3% | 17 | 0% | 240 | -3% | 74 | -17% | 102.6% | 31.6% |
Hi folks,
If you are going to be selling your home in the near future or are just curious about its value in today’s market, give me a call or use the button below. I will email you a comprehensive market analysis of your home. There is no obligation on your part and it is totally free.
My phone number is 760.476.9560.
What is my Home WorthNot ready to move yet but want to keep an eye on your homes value, I have a monthly update that is customized to your home and neighborhood. Click the link below to see what is included in the report and to sign up:
Monthly Update