What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff Home Sales for February 2023
It’s important for buyers and sellers in the Cardiff real estate market to have current information about the local market conditions in order to make informed buying and selling decisions about Cardiff homes for sale.
Supply and demand affects selling and buying in a number of ways, including pricing, competition, and time on market. It’s important to understand how local market conditions can impact your buying and/or selling decisions. Let’s talk now!
Read More About Cardiff-by-the-Sea:
Cardiff by the Sea – Quintessential Beach Community
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’s a summary of the Cardiff real estate market for February 2023 based on data provided by the MLS (private sales are not included; data are believed to be accurate as of this writing but are not guaranteed). 3 homes sold in February, compared to 1 last month.
Single Family Homes Sold
2 (up by 1); 5 Days on Market; Average Sales Price was $1,612,500; the Average Sales Price was 104% of the original asking price.
Condos, Townhomes & Duplexes Sold
1 (up by 1); 9 days on market; Sales Price was $980,000; Sales Price was 101% of the original asking price.
The overall volume of sales in Cardiff was up from last month. There were 2 single family detached homes sold. We finally saw 1 townhome sale after none for the last 3 months.
At the end of February there was 1 home in the Cardiff housing market with an Active Under Contract status, versus none for the last 5 months.
At the end of February there were 15 homes for sale in Cardiff, the same as in January; 14 of these are single family detached homes. Listings range in price from $824,900 to $6,995,000 (same as in January).
At the time this report was compiled there was only 1 condominium on the market. There are 8.4 months of inventory for single family homes (up from 7.8 months last month), and 3 months for condos, townhomes and duplexes based on the rate of sales over the last 3 months.
The Cardiff by the Sea housing remains a buyer’s market, based on supply and demand, for single family homes, but is a strong seller’s market for condos, townhomes and duplexes.
1 single family home and the townhome sold for over asking price. 2 properties went pending within 5 days of being listing, the 3rd home took 9 days. Supply remains limited in Cardiff. One should not assume some homes won’t sell quickly even though we are seeing a market shift.
6 listings came on the market in February, compared to 9 last month. 4 homes went pending in February (not including homes that closed escrow), versus 5 in January.
These statistics are based on data in the MLS. If you would like more specifics about the Cardiff real estate market, or for particular areas including the Walking District and the Composer District, I can help. I am happy to provide details for these neighborhoods, and other areas of interest. I can also assist you with the sale or purchase of a Cardiff by the Sea home if that is your goal, now or in the future.
Because of the very small number of sales in Cardiff by the Sea one cannot draw conclusions about pricing, or other trends. Limited supply and strong buyer demand continue to create a competitive market.
Keep in mind that average sales prices are impacted by sales of higher and/or lower-priced homes each month, especially when sales volume is very low as it was in Cardiff.
Please reach out to me at (760) 840-1360 to discuss your personal housing needs, lifestyle, budget, and any questions. Then we can create a plan to buy and/or sell your Cardiff by the Sea home.
SEARCH HOMES FOR SALE IN CARDIFF BY THE SEA
READ MORE:
What’s My Cardiff-by-the-Sea Home Worth? Market Report for January 2023
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