What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff Home Sales for February 2018
Buyers and sellers in the Cardiff real estate market need accurate and up to date information about local and current market conditions in order to make informed decisions about Cardiff homes for sale.
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Here is a summary of the Cardiff real estate market for February 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 - 10 (up 30%) Ave. 22 Days on Market, Ave. Sales Price $1,095,000 (up 23%); Ave. sale 98% of asking price
Detached Homes Sold - 5 (up 25%); Ave. 12 Days on Market, Ave. Sales Price $1,342,600 (up 18%); Ave. sale 96% of asking price
Attached Homes Sold - 5 (up 67%); Ave. 32 Days on Market, Ave. Sales Price $847,400 (down 15%). Ave. sale 100% of asking price
The overall volume of sales in Cardiff shifted up fairly significantly from last month. 40% of the transactions in February were for cash, compared to 43% last month. 3 homes sold at or above asking price. Average prices increased for detached homes, but dropped on average for attached homes compared to January; 4 of the 10 homes sold for under $1 million.
At the end of February 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), the same as last month.
As of the end of February 2018 there were 20 Cardiff homes for sale, a 25% increase in inventory from January, and good news for buyers. This represents an inventory of 1.5 months for attached homes (the same as last month), and 3 months for detached homes (up from 2.4 months last month) based on the rate of sales over the last 3 months. The Cardiff market remains a very strong seller’s market for buyers of attached and detached homes.
14 Cardiff homes came on the market in February, compared to 17 last month. Only 5 homes went pending in February (not counting those that sold) compared to 13 in January.
If you would like more details about the Cardiff real estate market in 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 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.