What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff Home Sales for November 2018
As a buyer or seller in the Cardiff real estate market you need accurate and up to date information about current local market conditions so you can make informed decisions about Cardiff homes for sale.
Local market conditions have a big impact on buying and selling decisions, and it's important to understand these circumstances.
Read More About Cardiff-by-the-Sea:
Here is a summary of the Cardiff real estate market for November 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). A total of only 6 homes sold during November.
Detached Homes Sold
4 (down 67%); Ave. 105 Days on Market, Ave. Sales Price $2,023,750 (up 5%); Ave. sale 101% of asking price
Attached Homes (condos, town homes, twin homes) Sold
2 (no change) Ave. 47 Days on Market, Ave. Sales Price $1,185,000 (up 2%). Ave. sale was 101% of asking price
MORE DETAILS ON THE SALES ACTIVITY
The overall volume of sales in Cardiff dropped dramatically from last month; while attached home sales remained the sale there were far fewer detached homes sold in November. 50% of the transactions in November were for cash, compared to 21% last month. Half the homes sold for asking price or better. The days on market increased significantly over last month, but one detached home was on the market 290 days so this raised the average substantially. Without that home the average DOM for detached homes was 43 days.
At the end of November 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, but some these days are first rights of refusal where offers have been accepted contingent on the sale of a buyer’s home).
As of the end of November 2018 there were 27 Cardiff homes for sale, just 1 less than last month. This represents an inventory of 5.5 months for attached homes (up from 2 months last month), and 2.6 months for detached homes (the same as 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 detached homes but is approaching a balanced market for attached home buyers.
10 Cardiff listings came on the market in November, compared to 19 last month so listing activity has slowed – not unusual at holiday time. 11 homes went pending in November (not counting those that sold) compared to 16 in October.
HOW TO GET MORE INFORMATION
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.
Due to the 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 high and low end homes each month, especially when sales volume is low.