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Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market for January 2014?

By Jeff Dowler, CRS

Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

February 07, 2014 12:28 AM

Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market for January 2014?

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-by-the-Sea 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.

Want to learn more about Cardiff-by-the-Sea?

Cardiff bythe Sea – Quintessential Beach Community

AVisual Tour of Cardiff-by-the-Sea

Like to Walk? Live in the Walking District in Cardiff CA

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 January 2014 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 (down 8%)*	*6 (down 25%)*	*6 (up 20%)*
Average $	*$1,354,333 (up 73%)*	*$1,975,833 (up 112%)*	*$732,833 (up 32%)*
DOM	55	83	26
Sale $/List $ Ratio	*95%*	*95%*	*95%*

The number of homes sold in Cardiff in January dropped slightly, due to fewer detached home sale but 1 more attached home.
In contrast average sales prices jumped impressively but this was due to the sale of 2 homes for over $3M which raised the average sales price substantially
Buyers were able to negotiate, on average, 5% off the asking price; no homes sold for more than asking price, but all sold for at least 92% of the list price
None of the homes were short sales
17% of the sales were for cash

The Median sale price for detached homes was $1,675,000 (up 94%) and $638,500 (up 18%) for attached homes. Given the small number of homes sold, it is unwise to draw any conclusions about trends, especially given pricing.

At the end of January 2014 there was only 1 home 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 January 2014 there were only 20 Cardiff homes for sale, the same as in December. This represents an inventory of less than 1 month for attached homes (down from 1 month last month), and 2.5 months for detached homes (up from 2 months last month). The Cardiff real estate market became even more competitive for buyers, especially for attached homes/condos, and remains a strong seller’s market.

18 Cardiff homes came on the market in January, 3 times the number of new listing in December; 8 homes went pending in January, about 2/3 the number of December pendings.

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 CARDIFFBY THE SEA CALIFORNIA

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