What’s the Value of My Cardiff-by-the-Sea Home?
Cariff Home Sales for September 2018
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 buying and/or selling Cardiff homes for sale.
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Here is a summary of the Cardiff real estate market for September 2018 based on information provided by the MLS (private sales are not included; data are believed to be accurate as of this writing but are not guaranteed).
TOTAL HOMES SOLD
5 (down 69%) Ave. 29 Days on Market, Ave. Sales Price $1,545,000 (up 31%); Ave. sale 96% of asking price
Detached Homes Sold
3 (down 62%); Ave. 44 Days on Market, Ave. Sales Price $1,611,666 (up 11%); Ave. sale 92% of asking price
Attached Homes (condos, town homes, twin homes) Sold
2 (down 75%); Ave. 7 Days on Market, Ave. Sales Price $1,445,000 (up 62%). Ave. sale was 102% of asking price
The overall volume of sales in Cardiff dropped dramatically from last month for both detached and attached homes. None of the transactions in September were for cash, which is unusual, compared to 19% last month. 1 twin home sold for asking and 1 sold for over asking; all the detached homes sold under list price. The days on market increased for detached homes, but dropped substantially for the attached homes.
At the end of September 2018 there was 1 home 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 home for the last 2 months. This home is actually contingent on the sale of buyer’s home, with a first right of refusal.
As of the end of September 2018 there were 31 Cardiff homes for sale, down 21% from last month. This represents an inventory of 1.9 months for attached homes (up from 1.8 months last month), and 3.6 months for detached homes (down from 4.2 months last month) based on the rate of sales over the last 3 months. The Cardiff market remains a strong seller’s market for buyers of attached homes, and is a seller’s market for detached homes.
Only 8 Cardiff listings came on the market in September, compared to 20 last month. 13 homes went pending in September (not counting those that sold) compared to 6 in August.
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 2018.
Due to the overall small volume of sales one cannot draw firm conclusions about pricing and other trends in Cardiff by the Sea. Keep in mind that average prices can be dramatically affected by the sale of either high and low end homes each month, even more so when the sales volume is low.