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?
Here is a summary of the Cardiff real estate market for December 2016 based on information provided by the MLS (private sales are not included).
TOTAL HOMES SOLD
6 (down 25%); Ave. 37 Days on Market, Ave. Sales Price $1,844,500 (up 73%); Ave. sale 98% of asking price
Detached Homes Sold
6 (no change) Ave. 37 Days on Market, Ave. Sales Price $1,844,500 (up 49%); Ave. sale 98% of asking price
Attached Homes Sold
0 (down 100%); Ave. 0 Days on Market, Ave. Sales Price $0.00
The overall volume of sales in Cardiff decreased significantly from last month, and interesting all home sales were single family detached, with no attached homes sold in December. 33% of the homes sold in December were cash transactions, compared to 13% in November. 1 home sold for asking price, and 1 sold for 102% of asking.
Average sales prices increased significantly for detached homes, in large part due to the sale of 2 homes over $2M - 1 at $2.395M and 1 at $3.535M that raised the average substantially. No attached homes sold in December.
At the end of December 2016 there were 0 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 compared to 1 last month.
As of December 2016 there were 20 Cardiff homes for sale, a decline in inventory by 13%, the 5th consecutive drop. This represents an inventory of 1.4 months for attached homes (up from less than 1 month last month), and 2 months for detached homes (up from 1.9 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 December, more than twice the number of new listings in November. 3 homes went pending in December (not counting those that sold), half the number of pendings in November!
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.