The real estate market nationwide is trending toward normal. Nationwide, the number of new pending contracts has increased to 69,000 in the first quarter of 2023 – a year-over-year increase of 1.3%. The market is shifting – inventory levels are diminishing, and demand is rising. Experts agree that the market is seeing an uptick as we head into the spring of 2023.
Watch the video for all the latest local and national real estate trends
Carson Real Estate Market Trends
- Rounding out the first quarter, March saw a median home sale price of $494,500 in Carson and the surrounding area. This is a decrease from February’s median home price of $522,500, and an 8% decrease year-over-year.
- Locally, 58 homes sold in March. Year-over-year, this is a 42% decrease of homes sold for the month. However, year-to-date, 107 houses have been sold in Carson and the surrounding areas, with a median sale price of $520,000 in the greater Carson area and $497,250 for Carson specifically.
- The number of new contracts and new listings increased in March, with a total of 99 new contracts and 73 new listings. Both are increased from February, 15% and 13% respectively. These numbers are far below 2022 contract and listing numbers, indicating that inventory on the market is significantly low.
- The greater Carson area currently has 160 active listings in the real estate market – a 14% increase year-over-year, but a 16% decrease month-over-month.
- The average gap between list price and sales price is starting to shorten. The market is starting to see multiple offers on houses, dependent on location and a variety of other factors. The current sold price averages to be 98% of the asking price, which is an increase from the 96% of asking price that we saw in February.
- March saw a decrease in average days to contract for homes on the market as well. In February, the average time that a house would sit on the market was 47 days, in March it was down to just 29 days. While that is a 314% increase over March of 2022 – which had an average of 7 days – it does indicate that demand is increasing for the Carson real estate market.
National Real Estate Market Trends
- The number of pending contracts has increased in the first quarter of 2023. There was a steep decline in pending contracts in the last quarter of 2022, so this uptick is indicative of an upward-trending market.
- New pending contracts – contracts that are less than 7 days old – also significantly increased on the national level in quarter one. At the end of February this year, there were 69,000 new pending contracts. That’s a 1.3% increase year-over-year, indicative of increasing buyer demand.
- As demand for homes has increased in the first quarter of 2023, national inventory levels have decreased. More potential buyers are purchasing inventory that is currently on the market, which is a positive sign for this year’s real estate market.