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

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

What’s the Value of My Cardiff-by-the-Sea Home?

 

Cardiff home searchBuyers 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?

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 February 2017 based on information provided by the MLS (private sales are not included).

 

TOTAL HOMES SOLD

7 (up 133%); Ave. 36 Days on Market, Ave. Sales Price $1,014,571 (down 39%); Ave. sale 95% of asking price

 

Detached Homes Sold

1 (down 50%) Ave. 37 Days on Market, Ave. Sales Price $2,100,000 (up 14%); Sale was 93% of asking price

 

Attached Homes Sold

6 (up 500%); 36 Days on Market, Ave. Sales Price $833,666 (down 24% from last month’s 1 sale). Ave. sale 96% of asking price

 

Cardiff homes 

 

The overall volume of sales in Cardiff more than doubled from last month. Detached home sales were down significantly but attached sales increased substantially, from 1 sale last month to 6 for February. 29% of the homes sold in February were cash transactions, compared to 33% in January. One home sold for asking price, and one for 103% of list price.

 

The sales price for the detached home was more than the average of the 2 home sales from last month by 14% but this does not mean much given the small number of sales in both months.

 

At the end of February 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 the last 2 months.

 

As of the end of February 2017 there were 19 Cardiff homes for sale, a 26% increase in inventory from January, following 6 months of inventory decline – good news for buyers! This represents an inventory of less than 1 month for attached homes (like last month), and 3.1 months for detached homes (up from 2.2 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.

 

23 Cardiff homes came on the market in February, twice as many as in January – more good news for Cardiff buyers. 11 homes went pending in February (not counting those that sold), 1 more than in January.

 

READ MORE:

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 January 2017

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (5)

Kristine Ginsberg
Elite Staging and Redesign, LLC - Short Hills, NJ
NJ Home Stager

Hi Jeff - excellent information on the Cardiff real estate market. This is such a beautiful waterfront town! Enjoy your weekend!

Mar 03, 2017 12:31 PM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Yep, that is pretty small and looking at the prices pretty exclusive also.

Mar 03, 2017 12:35 PM
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Jeff, I love the pictures you've chosen for this post. Whether buying or selling a home in Cardiff-by-the-Sea, you are the real estate agent to call.

Mar 03, 2017 01:08 PM
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Jeff - Excellent market report for Cardiff-by-the-Sea, and a clear indication of the value of your expert assistance for both buyers and sellers.

Mar 04, 2017 11:05 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thank you Kristine Ginsberg  - it's a pretty cool town with a long surfing history and strugglin, in some ways, to not get gentrified. Most seem to like it that way.

Joe Pryor  - it's a small town in many ways and that's what people seem to like. 

Thank Beth Atalay  - there are some great ocean and lagoon views from the hills!

Hi Dick Greenberg Thank you for the compliment. One of the first homes I listed and sold when I got to California was in Cardiff!

Jeff

Mar 05, 2017 03:27 PM