What’s the Value of My Cardiff-by-the-Sea Home?
Market Report October 2017
Buyers and sellers in the Cardiff real estate market need accurate and up to date information about local and current market conditions so they can make informed decisions about Cardiff homes for sale.
Here’s More Information about Cardiff-by-the-Sea:
Here is a summary of the Cardiff real estate market for October 2017 based on information provided by the MLS (private sales are not included; the data are believe to be accurate as of this writing but are not guaranteed).
TOTAL HOMES SOLD
15 (up 50%) Ave. 26 Days on Market, Ave. Sales Price $1,054,333 (up 15%); Ave. sale 95% of asking price
Detached Homes Sold
10 (up 100%); Ave. 27 Days on Market, Ave. Sales Price $1,284,506 (up 15%); Ave. sale 95% of asking price
Attached Homes Sold - 5 (no change); Ave. 24 Days on Market, Ave. Sales Price $594,000 (down 15%). Ave. sale 97% of asking price
The overall volume of sales in Cardiff shifted up fairly significantly from last month, with substantially more detached homes sold, but no shift in attached home sale. 25% of the transactions in October were for cash, compared to 30% last month. 2 of the homes (13%) sold for asking price. Average prices increased for detached single family homes but declined for attached compared to September.
At the end of October 2017 there was only 1 home in the Cardiff housing market with a Contingent status (i.e., for the most part short sale and REO homes that have accepted offers being reviewed by the lenders), compared to 0 last month. This information is included in the total of active listings.
As of the end of October 2017 there were 20 Cardiff homes for sale, a 13% decrease in inventory from September. This represents an inventory of 1.2 months for attached homes (down from 1.3 months last month), and 2 months for detached homes (down from 2.3 months last month). The Cardiff market remains very competitive for buyers, and is a very strong seller’s market for buyers of attached and detached homes.
12 Cardiff homes came on the market in October, compared to 19 last month (down 14%). Only 5 homes went pending in October (not counting those that sold), compared to 13 in September, a substantial decrease by 62%.
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 and to assist you with the sale or purchase of a home in Cardiff by the Sea. Please call me at (760) 840-1360 so we can discuss your housing needs, answer all your questions, and create a plan to help you buy or sell your Cardiff home in 2017.
Keep in mind that due to the overall limited volume of sales one cannot draw any firm conclusions about pricing and other trends.