As a buyer or seller in the Cardiff real estate market, having data about the current market conditions will enable you to make an informed decision regarding what to do with regard to buying a home in Cardiff, or selling your Cardiff home.

Because of the type of community that it is, and its size, the Cardiff real estate market is very localized, and knowing what is going on in the market with regard to inventory and sales is important for making a buying or selling decision. Finding comparables for determining price for either a listing or a purchase can sometimes be tricky.

Here is a summary of the Cardiff real estate market for January 2009 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed.

• In January 2009 there were only 3 homes sold in Cardiff, 1 less than the number sold in December - 2 were attached properties (average price $757,500, DOM = 89, selling at an average of 94% of asking price) and 1 was detached (selling for $1,800,000 in 167 days at 95% of asking price).

• The average price was $1,105,000, but given the small number of homes sold this number is not very meaningful, especially since it is a bit skewed by one home selling at $1.8 million.

Because of the very small number of homes sold, one should not draw any conclusions of the pricing trends. Indeed, more expensive homes sold in January than did in December 2008.

As of January 2009 there were 50 Cardiff homes for sale (37 detached homes, and 15 attached homes), a 4% drop in inventory from the prior month. This represents an inventory of only 4.2 months for attached homes (just slightly less than at the end of December 2008) and 12.6 months for detached homes at the current rate of sales (based on a 6-month period), which was an increase from 10.6 months at the end of December.

The price range of detached homes on the market as of the end of January was $419,000 to $3.4 million; prices for attached homes ranged from $399,000 to $1.425 million.

11 Cardiff homes came on the market in January (7 detached, 4 attached), with 5 homes going pending during the same period - 2 detached and 3 attached - half the number that went under contract in December.

Data are based on information provided by the MLS for homes that went under contract in the last couple of months. 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 and the Composer Districts, please let me know.

Cardiff Real Estate December 2008 Market Report

Cardiff Real Estate November 2008 Market Report

Cardiff Real Estate October 2008 Market Report

Cardiff Real Estate September 2008 Market Report

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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2008 Jeff Dowler Carlsbad Homes and Real Estate Tidbits