Market Data for JANUARY 2007 - Cardiff, CA

By
Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

 Here are the summary statistics from the MLS for Cardiff-by-the-Sea for January 2007.

There are a few changes from the previous month that are worth noting, however keep in mind that we are looking at a small sample of data over 31 days, so you cannot derive a reliable trend. It is best to watch the trends over a multi-month period to gain a better idea of what the market is actually doing.

The inventory in Cardiff was smaller than it was in December (where it had also dropped from November 2006). We see that the absorption rate is well below 6 months for attached homes and about 6 months for detached. Prices have remained fairly stable over the long term, especially for attached homes which rose 4% over the median of 1 year ago, although in January the median price for detached homes dropped (however there were a small number of sales so large fluctuations are not surprising).

AS OF JAN. 31, 2007

ATTACHED HOMES

DETACHED HOMES

Active

16

32

New in January 07 / January 06

2 / 4

5 / 7

Sold in Last 6 Months

32

29

Sold/Pending In Last 6 months

45

38

Absorption Rate (Solds)

90 days

180 days

Absorption Rate (Solds Plus Pendings)

64 days

137 days

Average Days on Market

91

104

Median Price Change From 1 Year Ago

-2%

4%

Median Price

$479,000

$1,100,000

% Chgn. In MDN from prior month

-15%

4%

Average Price

$824,500

$1,230,800

If you have any questions or would like further information or clarification, please let me know.

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (1)

Kaye Thomas
Real Estate West - Manhattan Beach, CA
e-PRO, Manhattan Beach CA
Hi Jeff: I checked data for  the three cities you posted and think our markets are pretty similar.. inventory continues to be down about 50% in Manhattan Beach compared to November 1, 2006.. I really thought we would get a bump in inventory after Super Bowl but we haven't .. your pendings appear up too.. however the stuff that is selling is priced right.. if it's too high it sits.. are you seeing this trend?
Feb 18, 2007 06:30 AM