Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market for May 2013?
Buyer and sellers in the Cardiff real estate market need information about local and current market conditions in order to make 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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Here is a summary of the Cardiff real estate market for May 2013 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 |
11 (down 27%) |
18 (down 27%) |
3 (down 25%) |
|
Average $ |
$1,023,454 (up 3%) |
$1,195,312 (up 5%) |
$565,166 (down 3%) |
|
DOM |
48 |
60 |
13 |
|
Sale $/List $ Ratio |
94% |
93% |
97% |
The number of homes sold in Cardiff in May dropped from the prior month for detached homes. Average sales prices increased for detached homes, but declined for attached homes. Buyers were able to negotiate, on average, 3 - 7% off the asking price, but with several homes selling for asking price. The Median sale price for detached homes was $1,110,000 (down 2%) and $499,000 (up 34%) for attached. Given the small number of homes sold, it is unwise to draw any conclusions about trends, especially given pricing. 18% of the Cardiff homes that sold in May were cash sales.
At the end of May 2013 there were 4 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 accepted offers being reviewed by the lenders). Until approved these homes are considered active and are included in the Active statistics below.
As of May 2013 there were 24 Cardiff homes for sale, down just 4% from April (25). This represents an inventory of 1.4 months for attached homes (up from 1.3 months last month, the lowest in the coastal region), and 2.8 months for detached homes (down from 2.9 last month). The Cardiff real estate market, at the moment, remains very competitive for buyers and is a seller’s market, especially for attached home buyers.
12 Cardiff homes came on the market in May, down 13% from April; 15 homes went pending in May as compared to 16 in April.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
Data are based on information provided by the MLS for homes. 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 April 2013?
Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market in March 2013?
Cardiff Homes for Sale – What Happened in the Cardiff Real Estate market in February 2013?
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