What’s the Value of My Cardiff-by-the-Sea Home?
Home Sales for January 2018
Buyers and sellers in the Cardiff by the Sea (a.k.a. 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.
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Here is a summary of the Cardiff real estate market for January 2018 based on information provided by the MLS (private sales are not included; the data are believed to be accurate as of this writing but are not guaranteed).
TOTAL HOMES SOLD
7 (no change) Ave. 37 Days on Market, Ave. Sales Price $1,074,800 (down 13%); Ave. sale 94% of asking price
Detached Homes Sold
4 (down 20%); Ave. 44 Days on Market, Ave. Sales Price $1,135,875 (down 13%); Ave. sale 94% of asking price
Attached Homes Sold
3 (up 50%); Ave. 44 Days on Market, Ave. Sales Price $993,366 (down 6%). Ave. sale 99% of asking price
The overall volume of sales in Cardiff did not change from last month, but we saw 1 less detached single family home sell but 1 more attached. 43% of the transactions in January were for cash, compared to 29% last month. 1 home sold for asking price and 1 sold for 101% of list. Average prices decreased for both detached and attached homes compared to December; 4 of the 7 homes sold for under $1 million.
At the end of January 2018 there were no homes in the Cardiff housing market with a Contingent status (i.e., for the most part these are short sale and REO homes that have accepted offers being reviewed by the lenders), compared to 1 last month.
As of the end of January 2018 there were 16 Cardiff homes for sale, a 27% decrease in inventory from December, and the second decline. This represents an inventory of 1.5 months for attached homes (down from 1.9 months last month), and 2.4 months for detached homes (up from 1.8 months last month) based on the rate of sales over the last 3 months. The Cardiff market remains very competitive for buyers, and is a very strong seller’s market for buyers of attached and detached homes.
17 Cardiff homes came on the market in January, compared to 8 last month (up over 100%), which is some good news for buyers. 13 homes went pending in January (not counting those that sold), almost double the pendings in December.
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 and budget, answer all your questions, and create a plan to help you buy or sell your Cardiff by the Sea home in 2018.
Keep in mind that due to the overall limited volume of sales one cannot draw any firm conclusions about pricing and other trends.