What’s the Value of My Cardiff-by-the-Sea Home?
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 September 2016 based on information provided by the MLS (private sales are not included).
TOTAL HOMES SOLD
11 (up 38%); Ave. 24 Days on Market, Ave. Sales Price $1,105,610 (down 245%); Ave. sale 98% of asking price
Detached Homes Sold
4 (down 20%) Ave. 43 Days on Market, Ave. Sales Price $1,570,802 (down 21%); Ave. sale 98% of asking price
Attached Homes Sold
7 (up 133%); Ave. 14 Days on Market, Ave. Sales Price $839,785 (up 59%); Ave. sale 99% of asking price
The overall volume of sales in Cardiff increased by 38% from last month, with a slight decline in detached home sales but more than twice as many attached home sales – keep in mind that despite this the volume of sales is fairly small. 27% of the homes sold in September were cash transactions, compared to 38% in August. 45% of the homes sold for asking price or better.
Average sales prices decreased substantially for detached homes in large part due to the sale on a home at $4.2M last month that had raised the average, but increased significantly for attached homes, most likely due to 2 attached home sales at over $1M, with 1 selling for $1.565M.
At the end of September 2016 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 September 2016 there were 27 Cardiff homes for sale, a decline in inventory by 18%, the second consecutive drop. This represents an inventory of less than 1 month for attached homes (down from 2.1 months last month), and 3.3 months for detached homes (up from 2.9 months last month). The Cardiff market remains very competitive for buyers, and is a strong seller’s market.
14 Cardiff homes came on the market in September, down 30% from August. 14 homes went pending in September (not counting those that sold), the same as last month!
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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 on these specific areas 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 August 2016
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