Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market for November 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 be tricky due to limited inventory, the diversity of homes for sale, and market fluctuations.
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Want to Live in a Musical Community? Try the Composer District in Cardiff, CA
Here is a summary of the Cardiff real estate market for November 2012 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 |
12 (up 50%) |
8 (up 80%) |
4 (up 33%) |
|
Average $ |
$998,453 (up 13%) |
$1,212,211 (up 35%) |
$450,000 (down 45%) |
|
DOM |
51 |
44 |
68 |
|
Sale $/List $ Ratio |
98% |
96% |
101% |
The number of homes sold in Cardiff in November rose significantly from the prior month. Average sales prices were mixed, rising for detached homes (due to the sales of 2 homes priced at $1.85 million and $2.6 million), but declined for attached homes. Buyers were able to negotiate, on average, 2 - 4% off the asking price, but with a number of homes selling for over asking price. Given the small number of homes sold, it is unwise to draw any conclusions about trends, especially given pricing.
At the end of November 2012 there were 6 homes in the Cardiff real estate market with a Contingent status, just 1 more than last month (i.e., short sale and REO homes that had accepted offers being reviewed by the lenders). Until approved these homes are considered active and are included in the Active statistics below.
As of November 2011 there were 29 Cardiff homes for sale, down 9% from October. This represents an inventory of only 1.8 months for attached homes (up from 1.4 months last month, among the lowest in the coastal region), and 4.5 months for detached homes (down from 6 months in October). The Cardiff real estate market, at the moment, has remained very competitive for buyers for attached homes/condos, and is a seller’s market! The market for detached single family homes now favors sellers.
11 Cardiff homes came on the market in November, 2 less than last month; 7 homes went pending in November, 2 fewer than in October.
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.
HOMES FOR SALE IN CARDIFF BY THE SEA CALIFORNIA
READ MORE:
Cardiff Homes for Sale - What Happened in the Cardiff Real Estate Market in October 2012?
Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market in September 2012?
Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market in August 2012?
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