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 October 2016 based on information provided by the MLS (private sales are not included).
TOTAL HOMES SOLD
15 (up 36%); Ave. 64 Days on Market, Ave. Sales Price $1,487,307 (up 34%); Ave. sale 91% of asking price
Detached Homes Sold
9 (up 125%) Ave. 59 Days on Market, Ave. Sales Price $1,813,333 (up 15%); Ave. sale 91% of asking price
Attached Homes Sold
6 (down 14%); Ave. 72 Days on Market, Ave. Sales Price $973,333 (up 15%); Ave. sale 91% of asking price
The overall volume of sales in Cardiff increased significantly from last month, with a slight decline in attached home sales but substantially more detached home sales – keep in mind that despite this the volume of sales is fairly small. 38% of the homes sold in October were cash transactions, compared to 27% in August. 13% of the homes sold for asking price or better.
Average sales prices increased for detached homes, in large part due to the sale of 3 homes over $2M, 1 of them at $3.8M that raised the average, and also increased for attached homes.
At the end of October 2016 there was 1 home 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 compared to none for the last several months.
As of October 2016 there were 23 Cardiff homes for sale, a decline in inventory by 15%, the 3rd consecutive drop. This represents an inventory of 1 month for attached homes (up from less than 1 month last month), and 2.5 months for detached homes (down from 3.3 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 October, the same as in September. 12 homes went pending in October (not counting those that sold), the same as down by 2 (14%) from 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
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What’s My Cardiff-by-the-Sea Home Worth? Market Report for September 2016
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