2016 Year-End Market Report for Cardiff by the Sea CA
Here is my 2016 year-end market update for single family homes in Cardiff by the Sea (a.k.a. Cardiff), just south of Encinitas. Check out the Cardiff lifestyle:
Cardiff offers a mix of single family detached homes, from bungalows to multi-million dollar ocean-view homes in the Composer and Walking Districts near the down town area, in a variety of styles! The town is small so inventory of available single family homes is often limited, and prices can vary significantly depending on location and views.
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
2016 Housing Market for Cardiff
82 detached single family homes sold in 2016, just 1 less than 2015 sales (down 1%). The average sales price for the 2016 was $1,564,558, an increase of 13% over 2015 average sales prices ($1,388,226). The average marketing time was 34 days, as compared to 45 days in 2015 sales.
Prices for detached single family homes sold in 2016 ranged from $642,250 to $4,200,000 for a 4500 SF ocean-view 2-year old custom home. Only 28% of the homes sold for under $1 Million.
The Median Price for a single family home in Cardiff in 2016 was $1,407,500, up 17% from the 2015 median price
39% of the single family detached homes sold in 2016 in Cardiff were cash transactions just about the same as in 2015. Homes sold, on average, at 94% of the asking price. However, while buyers negotiated their prices down below asking prices, there were plenty of homes sold at and above the asking price – 24% in fact!
The overall inventory right now remains low, and the market continues to favor sellers in Cardiff. As of this writing there are only 13 single family detached homes on the market ranging from $799,000 to $3,800,000. Only 2 of the active listings are priced below $1 Million. The average time on the market for these homes is 38 days.
7 single family homes are pending right now with original pricing from $1,095,000 to $2,249,000. These homes have been on the market an average of 33 days. Only 2 homes have closed escrow since the beginning of the year.
Check out the December 2016 Cardiff housing market report for more details regarding the end of the year sales.
If you would like more information about the Cardiff housing market in general, or regarding specific neighborhoods (Composer District, Walking District), and would like to discuss your housing wants, needs and budget, let’s set a time to talk! Call me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com.
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