What’s the Value of My Cardiff-by-the-Sea Home?
Buyers and sellers in the Cardiff real estate market look for up to date information about local and current market conditions to make informed decisions about Cardiff homes for sale.
The Cardiff-by-the-Sea housing market is small and very localized, 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.
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Here is a summary of the Cardiff real estate market for April 2017 based on information provided by the MLS (private sales are not included).
TOTAL HOMES SOLD
11 (no change); Ave. 15 Days on Market, Ave. Sales Price $1,571,500 (up 48%); Ave. sale 100% of asking price
Detached Homes Sold
9 (up 80%); Ave. 17 Days on Market, Ave. Sales Price $1,678,333 (up 45%); Ave. sale 100% of asking price
Attached Homes Sold
2 (down 67%); Ave. 7 Days on Market, Ave. Sales Price $1,090,750 (up 11%). Ave. sale 101% of asking price
The overall volume of sales in Cardiff did not shift from last month, however there were more detached home sales and fewer attached. 36% of the homes sold in April were cash transactions, compared to 18% in March. 5 homes (45%) sold for asking price or better; 9 of the 11 sales were over $1 million.
At the end of April 2017 there was 1 home 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.
As of the end of April 2017 there were 29 Cardiff homes for sale, a 26% increase in inventory from February, yet another increase and more good news for buyers! This represents an inventory of 2.7 months for attached homes (up from 1.1 month last month), and 4.3 months for detached homes (up from 3.8 months last month). The Cardiff market remains very competitive for buyers, and is a strong seller’s market for buyers of attached homes and a seller’s market for detached homes.
24 Cardiff homes came on the market in April, compared to 14 in March. 13 homes went pending in April (not counting those that sold), compared to 8 in March.
Data are based on information provided by the MLS. If you would like more details about the Cardiff real estate market with regard to current activity as well as the specific areas including the Walking District and the Composer District, I am happy to provide detailed reports on these specific areas for you.