What’s My Cardiff-by-the-Sea Home Worth? Market Report January 2017

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 local, 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? Check out these links! 

 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

Here is a summary of the Cardiff real estate market for January 2017 based on information provided by the MLS (private sales are not included).

TOTAL HOMES SOLD

3 (down 50%); Ave. 42 Days on Market, Ave. Sales Price $1,658,333 (down 10%); Ave. sale 92% of asking price

Detached Homes Sold

2 (down 67%) Ave. 61 Days on Market, Ave. Sales Price $1,844,500 (up 3%); Ave. sale 93% of asking price

Attached Homes Sold

1 (up 100%); 3 Days on Market, Sales Price $1,095,000. Sale was 92% of asking price

The overall volume of sales in Cardiff decreased significantly from last month. Detached home sales were down significantly but 1 attached home sold as compared to 0 in December. 33% of the homes sold in January were cash transactions, the same as in December. All 3 homes sold for less than the list price.

Average sales prices increased slightly for detached homes compared to last month but bear in mind the number of sales is very small.

At the end of January 2017 there were no 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), the same as last month.

As of the end of January 2017 there were 15 Cardiff homes for sale, a decline in inventory by 25% from December, the 6th consecutive drop. This represents an inventory of less than 1 month for attached homes (down from 1.4 months last month), and 2.2 months for detached homes (up from 2 months last month).  The Cardiff market remains very competitive for buyers, and is a strong seller’s market, in particular for buyers of attached homes.

11 Cardiff homes came on the market in January, down 22% from the number of new listings in December. 10 homes went pending in January (not counting those that sold), more than 3 times the number of pendings in December – we’ll see those sold properties in February’s statistics!!

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How Important is Inventory when Buying or Selling? Very!!

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.

HOMES FOR SALE IN CARDIFF BY THE SEA CALIFORNIA

READ MORE:

What’s My Cardiff-by-the-Sea Home Worth? Market Report for December 2016