Cardiff Homes for Sale
What Happened in the Cardiff Real Estate Market for January 2015?
Buyers
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 housing 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 Cardiff properties for sale, and market fluctuations.
Want to learn more about Cardiff-by-the-Sea?
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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 2015 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 |
7 (down 30%) |
4 (down 43%) |
3 (no change) |
|
Average $ |
$1,030,085 (down 10%) |
$1,425,150 (up 1%) |
$503,333 (down 6%) |
|
DOM |
61 |
72 |
45 |
|
Sale $/List $ Ratio |
94% |
94% |
94% |
The number of homes sold in Cardiff in January decreased significantly for detached home but remained the same for attached. Average sales prices also declined for attached homes but increased for detached homes (in part due to sale of 1 home at $3.125M, raising the average substantially). Buyers were able to negotiate, on average, 6% off the asking price with 5 homes selling below asking and 1 at list price. 14% of the transactions in January were for cash, compared to 40% in December.
The Median sale price for detached homes was $980,300 (down 21%), and $525,000 (down 9%) 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 2015 there was 1 home in the Cardiff housing market with a Contingent status, the same as last month (i.e., short sale and REO homes that had accepted offers being reviewed by the lenders).
As of January 2015 there were 25 Cardiff homes for sale, just 1 less than last month (down 4%), another drop. This represents an inventory of 1.4 months for attached homes (down from 2 months in December), and 2.9 months for detached homes (up from 2.5 months last month). The Cardiff market remains competitive for buyers, and is a strong seller’s market for both attached and detached home buyers.
6 Cardiff homes came on the market in January, twice the number hitting the market in December; similarly 5 homes went pending in January (not counting those that sold), 25% more than the number of December pendings.
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, I am happy to provide detailed reports for you.
HOMES FOR SALE IN CARDIFF BY THE SEA CALIFORNIA
READ MORE:
Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market in November 2015?
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