What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff Homes Sales for December 2019
Buyers and sellers in the Cardiff real estate market need accurate and up to date information about 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 conditions and how they affect you.
Read More About Cardiff-by-the-Sea:
Here’s a summary of the Cardiff real estate market for December 2019 based on data provided by the MLS (private sales are not included; data are believed to be accurate as of this writing but are not guaranteed). Only 7 homes sold during December, down 36% from last month, the 2nd consecutive decline in sales.
Take a quick tour of the Cardiff lifestyle in this slideshow
Detached Homes Sold
5 (down 29%); Average of 27 Days on Market, Average Sales Price $2,180,000 (up 64%); Average sale was 97% of original asking price
Attached Homes (condos, town homes, twin homes) Sold
2 (down 50%); 16 Days on Market, Sales Price $974,500 (down 5%); Average sale was 99% of original asking price
The overall volume of sales in Cardiff dropped substantially from last month, which was not a surprise given the holidays. 14% of the transactions in December were for cash, compared to 45% last month. The average sales price for attached homes declined from last month, but rose substantially for detached homes, likely due to 2 homes selling for $2.8M or higher that raised the average.
Home buyers negotiated 1 - 3% off the original asking price, on average; 3 home buyers paid asking price or higher for their homes. The average time on market decreased from last month for both detached single family homes and attached.
At the end of December 2019 there were no homes in the Cardiff housing market with a Contingent status, the same as the last 2 months (i.e., some Contingent listings are short sale and REO homes that have accepted offers being reviewed by the lenders, but more often when they occur they are 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 December 2019 there were 20 Cardiff homes for sale, down 35% from November and another drop in inventory, but not a surprise given the holidays; current listings range in price from $925,000 to $4,695,000. We have less than 1 month of inventory for attached homes (down from 2.5 months last month), and only 2 months for detached homes (down from 2.5 months last month), based on the rate of sales over the last 3 months. The Cardiff market remains a very strong seller’s market, and became even more competitive in December.
Only 5 Cardiff listings came on the market in December, compared to 12 in November, not surprising given the holidays. 8 homes went pending in December (not counting those that sold), compared to 10 in November.
Data are based on information provided by the MLS. If you would like more details about the Cardiff real estate market, as well as for specific areas including the Walking District and the Composer District, I am happy to provide detailed reports on these neighborhoods 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.
Keep in mind that average prices may be significantly affected by the sale of high and/or low priced homes each month, especially when sales volume is low.
I invite you to 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 2020.