What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff Home Sales for February 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 February 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 7 homes sold during February, down by 2 (22%) from the number of sales in January.
Detached Homes Sold
4 (down 33%); Ave. 34 Days on Market, Ave. Sales Price $1,310,625 (down 27%); Ave. sale 97% of asking price
Attached Homes (condos, town homes, twin homes) Sold
3 (no change) Ave. 22 Days on Market, Ave. Sales Price $649,666 (down 56%). Ave. sale was 98% of asking price
The overall volume of sales in Cardiff dropped modestly from last month (but the month was a little shorter); while attached home sales did not shift, there were 2 fewer detached homes sold in February. 14% of the transactions in February were for cash, compared to 22% last month. 43% of the buyers paid asking price or better for their homes. Marketing time decreased markedly from last month for both detached single family homes and attached homes.
At the end of February 2019 there was 1 home in the Cardiff housing market with a Contingent status, compared to none 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 are first rights of refusal where offers have been accepted contingent on the sale of a buyer’s home). This home is a first right of refusal due to a contingent offer.
As of the end of February 2019 there were 23 Cardiff homes for sale, up substantially by 48% from last month. This represents an inventory of 4.9 months for attached homes (up from 3.4 months last month), and 2.7 months for detached homes (up from 1.8 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 detached homes and is a seller’s market for attached home buyers.
21 Cardiff listings came on the market in February, more than double the number in January, which is good news for buyers. 9 homes went pending in February (not counting those that sold), the same number of pendings as in January.
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 questions, and create a plan to help you buy or sell your Cardiff home in 2019.
Due to the small volume of sales one should not 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 priced homes each month, especially when sales volume is low.