What Happened in the Cardiff Real Estate Market in December 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 December 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 |
14 (up 56%) |
9 (up 80%) |
5 (up 25%) |
|
Average $ |
$648,057 (down 25%) |
$720,544 (down 35%) |
$517,580 (down 6%) |
|
DOM |
93 |
76 |
124 |
|
Sale $/List $ Ratio |
95% |
95% |
95% |
The number of homes sold in Cardiff in December climbed dramatically. Average sales prices, however, declined fairly significantly rose significantly, in large part due to the sale of less expensive homes compared to last month. Given the very small number of homes sold, it is unwise to draw any conclusions about trends, especially given pricing.
At the end of December 2011 there were 5 homes in the Cardiff real estate market with a Contingent status, 1 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 December 2011 there were 43 Cardiff homes for sale, 16% less than last month, the 4th month of inventory decline, thus making the inventory even more competitive in the Cardiff real estate market. This represents an inventory of only 4.1 months for attached homes (up from 4 months last month) and 3.2 months for detached homes (down from 4.3 months in October). One might now consider this a seller’s market.
8 Cardiff homes came on the market in December, 43% fewer new listings than in November, meaning an even tighter market for Cardiff buyers. 7 homes went pending in December as compared to 8 in November.
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.
SEARCH FOR HOMES FOR SALE IN CARDIFF BY THE SEA CALIFORNIA
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Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market in November 2011?
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