The current real estate market in Carlsbad, California is smoking hot. Inventory is low, and pent-up demand is causing home values to soar.
According to Redfin, Carlsbad home prices were up 29.3% in February 2022 compared to last year, selling for a median price of $1.3M with an average of 10 days on the market. There were 89 homes sold in February this year, down from 126 last year.
According to the latest C.A.R. report, the median single-family home price in San Diego County increased 19.9 percent to $875,000, while sales fell 6.7 percent year over year.
The market in North County San Diego is very competitive.
According to The Coast News,
“Out-of-state buyers coupled with locals searching for a home have driven prices up well over the asking price, which sometimes translates to hundreds of thousands of dollars.
“Homebuyers became much more aggressive in their offers. Many of the home buyers in the market had already unsuccessfully (made) offered on homes,” Lund said. “Even after offering 3 to 5% above asking, they were not chosen. The results started to show that winning bids were as much as 10% over the asking price.”
Lund said many brokers were seeing buyers from Los Angeles, New York and the San Francisco Bay Area. By comparison, Encinitas is an affordable place to live. Homeowners get more for their dollar down here.”