Cardiff Real Estate Market Report for February 2011
As a buyer or seller in the Cardiff real estate market, having information about the current market conditions will enable you to make an informed decision regarding what to do with regard to buying a home in Cardiff, or selling your Cardiff home.
The Cardiff real estate market is small and very localized, and knowing what is going on with regard to inventory and sales is important for making an informed buying or selling decision. Finding comparables for determining price for either a listing or a purchase can sometimes be tricky because of the limited inventory and the diversity of homes for sale.
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Here is a summary of the Cardiff real estate market for February 2011 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# SOLD
|
6 (no change) |
4 (no change) |
2 (no change) |
|
Average $
|
*$1,137,250 (up 77%) |
$1,278,375 (up 72%) |
$693,500 (up 59%) |
|
DOM
|
66 |
37 |
161 |
|
Sale $/List $ Ratio
|
96% |
95% |
97% |
* Note - 5 of the 6 homes sold were over $1 million, raising the average significantly
The number of homes sold in Cardiff in February remained unchanged, but average sales prices rose significantly - this appears to due to the fact that almost all of the homes sold were over $1 million. Given the very small number of homes sold, however, it is unwise to draw any conclusions about trends, especially given pricing.
At the end of February 2011 there were 6 homes in the Cardiff real estate market with a Contingent status, 2 less than last month (i.e., short sale and REO homes that had offers being reviewed by the lenders). Until approved these homes are considered active and are included in the Active statistics below.
As of February 2011 there were 56 Cardiff homes for sale, compared to 58 last month. This represents an inventory of only 4.3 months for attached homes (up from 4.3 months in January) and 12.2 months for detached homes (up from 9.5 months in January).
19 Cardiff homes came on the market in February, 1 more than last month, while 13 homes went pending as compared to 12 in January.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
Data are based on information provided by the MLS for homes that went under contract in the last couple of months. If you would like more details about the Cardiff real estate market with regard to current activity as well as the specific areas such as the Walking District and the Composer District, please let me know.
READ MORE:
Cardiff Homes for Sale | Cardiff Real Estate Market Report for January 2011
Cardiff Homes for Sale | Cardiff Real Estate Market Report for December 2010
Cardiff Homes for Sale | Cardiff Real Estate Market Report for November 2010
Cardiff Homes for Sale | Cardiff Real Estate Market Report for October 2010
Cardiff Homes for Sale | Cardiff Real Estate Market Report for September 2010
Cardiff Homes for Sale | Cardiff Real Estate Market Report for August 2010
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