Cardiff Homes for Sale - What Happened in the Cardiff Real Estate Market in May 2012?

Buyer and sellers in the Cardiff real estate market, need information about the current market conditions in order to make an informed decisions about Cardiff homes for sale. 

The Cardiff real estate market is small and very localized, and finding comparables for determining price for either a listing or a purchase can sometimes be tricky because of the limited inventory, the diversity of homes for sale, and fluctuations in the market. 

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Here is a summary of the Cardiff real estate market for May 2012 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed. 

The number of homes sold in Cardiff in May declined modestly from last month’s sales for attached homes while detached sales remained the same, although small. Average sales prices dropped for detached homes (due to 3 sales over $1M with 1 at $2.675M last month) and for attached homes. Buyers are averaging 3 – 4% off the asking price. Average DOM dropped again an is approaching 1 month on average. But given the very small number of homes sold, it is unwise to draw any conclusions about trends, especially given pricing but the shift is encouraging.

At the end of May 2012 there were 10 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 May 2011 there were 47 Cardiff homes for sale, about the same as last month (45). This represents an inventory of only 4.2 months for attached homes (up from 3.7 months last month), and 4.2 months for detached homes (down from 4.2 months in March).  The Cardiff real estate market remains competitive!

10 Cardiff homes came on the market in May, barely half of what it was in April (17). 13 homes went pending in May as compared to 11 in April.

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.

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READ MORE:

Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market in April 2012?

Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market in March 2012?

Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market in February 2012?