What’s My Cardiff-by-the-Sea Home Worth?
Cardiff Market Report for October 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?
Cardiff by the Sea – Quintessential Beach Community
A Visual 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 October 2015 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed.
TOTAL HOMES SOLD
12 (up 9%), Ave. 34 Days on Market, Ave. Sales Price $1,002,543 (down 13%), Ave. sale 96% of asking price
Detached Homes Sold
6 (down 14%), Ave. 35 Days on Market, Ave. Sales Price $1,299,833 (down 4%), Ave. sale 97% of asking price
Attached Homes Sold
6 (up 50%), Ave. 32 Days on Market, Ave. Sales Price $705,253 (down 21%), Ave. sale 95% of asking price
The number of detached homes sold in Cardiff in October rose slightly overall, with more attached homes sold but 1 less detached home compared to last month. Average sales prices declined for both detached and attached homes. Buyers were able to negotiate, on average, 3 - 5% off the asking price with a number of detached homes selling at or above asking price. 25% of the transactions in October were for cash, versus 45% in September.
The Median sale price for detached homes was $857,000 (down 28%), and $619,867 (down 4%) 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 October 2015 there were, once again, no homes in the Cardiff housing market with a Contingent status (i.e., short sale and REO homes that have accepted offers being reviewed by the lenders).
As of October 2015 there were only 18 Cardiff homes for sale, a decline of 25% from September, and the 2nd consecutive decline in inventory. This represents an inventory of 1.1 months for attached homes (up from 1 month in September), and 2 months for detached homes (down from 3.1 months last month). The Cardiff market remains very competitive for buyers, and is a strong seller’s market especially for attached home buyers.
12 Cardiff homes came on the market in October, 33% fewer than in September. 12 homes went pending in October (not counting those that sold), down by 14% from September.
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:
What’s My Cardiff-by-the-Sea Home Worth? Market Report for September 2015
Comments(4)