What’s the Value of My Cardiff-by-the-Sea Home?
Home Sales for January 2019
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 January 2019 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 9 homes sold during January, down 40% from the number of sales in December.
Detached Homes Sold
6 (down 54%); Ave. 48 Days on Market, Ave. Sales Price $1,785,433 (down 4%); Ave. sale 92% of asking price
Attached Homes (condos, town homes, twin homes) Sold
3 (up 50%) Ave. 74 Days on Market, Ave. Sales Price $1,479,607 (up 29%). Ave. sale was 98% of asking price
The overall volume of sales in Cardiff dropped dramatically from last month; while attached home sales increased, there were far fewer detached homes sold in January. 22% of the transactions in January were for cash, compared to 53% last month.
33% of the buyers paid asking price or better for their homes. The days on market increased significantly from last month for both detached single family homes and attached homes.
At the end of January 2019 there were no homes in the Cardiff housing market with a Contingent status, the same as for the last 2 months (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 January 2019 there were 23 Cardiff homes for sale, up by 2 (10%) from last month. This represents an inventory of 3.4 months for attached homes (the same as last month), and 1.8 months for detached homes (up from 1.3 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 and is a strong seller’s market for attached home buyers.
8 Cardiff listings came on the market in January, double the number in December. 9 homes went pending in January (not counting those that sold) also an increase in activity compared to 5 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, 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.