What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff Housing Market Report June 2019
Buyers and sellers in the Cardiff real estate market need accurate and up to date information about the current local market conditions in order to make informed decisions about Cardiff homes for sale.
Local market conditions have a big impact on buying and selling – inventory, pricing, competition, time on market - and you need to understand these circumstances and how they could affect you.
Read More About Cardiff-by-the-Sea:
Here is a summary of the Cardiff real estate market for June 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 14 homes sold during June, 2 fewer than in May (down 12%).
Detached Homes Sold
5 (down 37%); Average of 22 Days on Market, Average Sales Price $1,671,600 (up 22%); Average sale was 91% of original asking price
Attached Homes (condos, town homes, twin homes) Sold
9 (up 13%); 52 Days on Market, Sales Price $1,235,625 (up 4%); Sale was 98% of original asking price
The overall volume of sales in Cardiff dropped from last month, but with a decline for detached sales but a modest increase in attached single family home sales. 29% of the transactions in June were for cash, compared to 19% last month. The average sales price for both detached and attached homes.
Home buyers negotiated between 2 and 9% of the original asking price, on average; 1 buyer of a twin home paid 113% for their new home. The average time on market increased from last month for both detached single family homes and attached homes.
At the end of June 2019 there were no homes in the Cardiff housing market with a Contingent status (i.e., some Contingent listings are short sale and REO homes that have accepted offers being reviewed by the lenders, but these days when they occur most tend to be first right of refusals where offers have been accepted that are contingent on the sale of a buyer’s home).
As of the end of June 2019 there were 41 Cardiff homes for sale, an increase of 14% from May; homes ranged in price from $615,000 to $7,350,000. This represents an inventory of 1.9 months for attached homes (up from 1.5 months last month), and 4.6 months for detached homes (up from 3.4 months last month) based on the rate of sales over the last 3 months. The Cardiff market remains a seller’s market, which is especially true for attached home buyers.
20 Cardiff listings came on the market in June, 17% fewer than in May. 12 homes went pending in June (not counting those that sold), up by 33% from last month.
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.
Due to the relatively small volume of sales one should not draw firm conclusions about pricing and other trends in Cardiff by the Sea based on one month of statistics.
Keep in mind that average prices can be dramatically affected by the sale of high and/or low priced homes each month, especially when sales volume is low.
Please reach out to me at (760) 840-1360 so we can discuss your housing needs, lifestyle, and budget, answer all of your questions, and create a strategy to help you buy and/or sell your Cardiff home in 2019.