A P R I L 2 0 2 3 T o u r H o m e s . c o m
Market Update
20 23 T A B L E O F C O N T E N T S
6 8 10 12 14 15 18 M A R K E T R E C A P 2 0 2 3 L I S T I N G S P R I C E P E R S Q F T D A Y S O N M A R K E T C A R L S B A D I N V E N T O R Y P R E S E R V E S A L E S M A R C H C A R L S B A D R E P O R T
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For the past 3 years, we ' ve had a market that has been fueled by a simple principle of economics, supply and demand. The reality is, supply has not been able to keep up with demand and because of that, prices in San Diego County and especially Carlsbad have increased exponentially faster than previous " traditional" markets which averaged around 5-6% growth annually
Before we dive into statistics, let ' s talk a little bit about logistics. The lack of available homes for sale is not unique to The Preserve or even Carlsbad as all of Southern California is experiencing a shortage of inventory Year over year, since 2020, we have seen fewer homes come to the market.
You could say that interest rates are to blame for this. It ' s hard to go from 3% to 7% and not expect it to impact the market Currently, we sit around 6% for conventional loans and 5.5% for FHA and VA . While we did see the sharp increase in interest rates impact the market the second half of 2022, the first quarter of 2023 has been very di erent. There' s been a lot of speculation that the market is going to "drop" or "crash", but the reality is, demand is outpacing supply even with higher interest rates
While there' s a lot of di erent opinions on the future of the market, there' s one thing that is certain - home values are near the peak of April 2022 again and there are enough buyers in the market to create the competition needed to keep this market going (for the time being).
If you have any questions about the market, value of your home or just real estate in general, please feel free to give me a call anytime
Best,
Frank Goody REALTOR® TOUR Homes
A P R I L 2 0 2 3 M A R K E T R E C A P
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Y E A R T O D A T E H O M E S L I S T E D I N 2 0 2 2 H O M E S L I S T E D I N 2 0 2 1 8
Total Listings
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1 8 1 H O M E S S O L D I N 2 0 2 3 $568.33 2 0 2 3 A V G C L O S E D P R I C E P E R S Q F T H O M E S C U R R E N T LY P E N D I N G A C T I V E L I S T I N G S 2021 2022 10 2023
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50% 9 O F H O M E S S O L D I N 2 0 2 2 S O L D I N U N D E R 2 W E E K S A V G D A Y S O N M A R K E T F O R C L O S E D S A L E S L I S T E D I N 2 0 2 3 A V G D O M F O R P E N D I N G S A L E S M E D I A N D AY S O N M A R K E T F O R H O M E S I N C A R L S B A D - A P R ' 2 3 20 Days 10 12
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38 8 33 3 B D / 2 B A + H O M E S U N D E R $ 1 . 4 M F O R S A L E I N C A R L S B A D -45% N U M B E R O F C O N D O & T O W N H O M E L I S T I N G S I N C A R L S B A D Q 1 2 0 2 2 T O Q 1 2 0 2 3 ( Y - O - Y ) 3 B D / 2 B A + H O M E S U N D E R $ 1 . 4 M C U R R E N T LY P E N D I N G 3 B D / 2 B A + H O M E S U N D E R $ 1 . 4 M S O L D I N M A R C H 2 0 2 3 14
R E C E N T S A L E S
A P R I L 2 0 2 3 A C T I V E P E N D I N G 3 3 8 5 C O R D I L L E R A C T / / $ 79 9 , 0 0 0 3 0 5 0 V I L L E T A A V E / / $ 1 , 2 0 0 5 D O M P E N D I N G O N 4 / 6 / 2 3 15
The Preserve
3 1 4 1 D E G A P L / / $ 82 0 , 0 0 0 S O L D S O L D 0 3 / 2 2 / 2 0 2 3 0 3 / 2 4 / 2 0 2 3 16
A P R I L 2 0 2 3 S O L D S O L D 3 1 2 2 N A L A W A Y / / $ 90 0 , 0 0 0 3 0 1 8 V I L L E T A A V E / / $ 1, 1 5 0 , 00 0 0 3 / 1 7 / 2 0 2 3 0 3 / 1 3 / 2 0 2 3 17
M E D I A N S A L E S P R I C E M E D I A N D A Y S O N M A R K E T $1,400,000 9 99.9% 113 % O F O R I G I N A L L I S T P R I C E C L O S E D S A L E S M A R 2 0 2 3 R E P O R T Carlsbad 15.3% 25% 2.5% 54% 18
Questions about the market? 7 6 0 . 4 5 6 . 8 3 7 7 F r a n k @ T o u r H o m e s . c o m C a l D R E # 0 1 8 5 6 8 6 0
