What’s the Value of My Cardiff-by-the-Sea Home?
Home Sales Report for December 2018
If you are a buyer or seller in the Cardiff real estate market you need accurate and up to date information about the 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 you need to understand these circumstances and how they can impact you.
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Here is a summary of the Cardiff real estate market for December 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 15 homes sold during December, more than double the number of sales in November.
Detached Homes Sold
13 (up 225%); Ave. 32 Days on Market, Ave. Sales Price $1,856,136 (down 8%); Ave. sale 91% of asking price
Attached Homes (condos, town homes, twin homes) Sold
2 (no change) Ave. 22 Days on Market, Ave. Sales Price $1,150,000 (down 3%). Ave. sale was 96% of asking price
The overall volume of sales in Cardiff rose dramatically from last month; while attached home sales remained the sale there were far more detached homes sold in December, 3 times the number of November sales. 53% of the transactions in December were for cash, compared to 50% last month. 27% of the buyers paid asking price or better for their homes. The days on market decreased significantly from last month.
At the end of December 2018 there were no homes in the Cardiff housing market with a Contingent status, the same as last month (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 December 2018 there were 21 Cardiff homes for sale, down 22% last month but not a surprise given the holidays. This represents an inventory of 3.4 months for attached homes (down from 5.5 months last month), and only 1.3 months for detached homes (down from 2.6 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 detached homes but is a strong seller’s market for attached home buyers.
Only 4 Cardiff listings came on the market in December, compared to 10 last month so new listing activity slowed again – not unusual at holiday time. 5 homes went pending in December (not counting those that sold) also a decline in activity compared to 11 pendings in November.
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.