What’s My Cardiff-by-the-Sea Home Worth? Market Report for April 2020

By
Real Estate Agent with eXp Realty of California CA DRE #01490977

What’s the Value of My Cardiff-by-the-Sea Home?

Market Report April 2020 - an Unusual Month

 

The Cardiff Kook statueIt’s important for buyers and sellers in the Cardiff real estate market to have accurate and current information about 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 in terms of inventory, pricing, competition, time on market, and you need to understand how these conditions can affect your decisions. The pandemic is causing some market shifts as well!

 

If you are thinking about buying a home now or in the near future, you should read 8 Things to Know about Buying a Home in the Pandemic for some important information you should be aware of and think about.

 

Read More About Cardiff-by-the-Sea:

Cardiff by the Sea – Quintessential Beach Community 

Like to Walk? Live in the Walking District in Cardiff CA

Want to Live in a Musical Community? Try the Composer District in Cardiff, CA

 

Here’s a summary of the Cardiff real estate market for April 2020 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). The housing market was dramatically different in April, with only 1 home sold compared to 7 in March – no doubt the pandemic had a big impact on showings and sales.

 

Attached Homes (condos, town homes, twin homes) Sold

1 (85% fewer sales); 0 Days on Market, Sales Price was $720,000, at 99% of the original asking price of $725,000.

 

Detached Homes Sold - NONE

 

The overall volume of sales in Cardiff shifted markedly from last month, with only 1 attached home sale that sold for cash. There clearly was some networking going on between the listing and selling agents since the home never hit the MLS until it was noted as sold.

 

At the end of April 2020 there were no homes in the Cardiff housing market with a Contingent status, the same as the last 6 months (i.e., some Contingent listings are short sale and REO homes with accepted offers being reviewed by the lenders, but often when they occur they are first right of refusals).

 

At the end of April 2020 there were 41 Cardiff homes for sale, the most inventory we have seen since August of 2019. This is a substantial jump by 41% from March, despite the pandemic, and good news for buyers. Those listings range in price from $609,000 to $5,395,000. There are 8 months of inventory for attached homes (up from 4.1 months last month), and 7.5 months for detached homes (up from 2.7 months last month), based on the rate of sales over the last 3 months.

 

Cardiff by the Sea homes with views

 

As a result of having only 1 sale in April, along with the substantial increase in inventory and apparently lower demand, the Cardiff market shifted in April to a buyer’s market for both detached and attached homes, something we have not seen for a long time. It will be interesting to see what May statistics look like.

 

16 Cardiff listings came on the market in April, compared to 13 in March. 4 homes went pending in April (not counting the 1 that sold), compared to 3 in March.

 

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 very small volume of sales one should not draw firm conclusions about pricing and other trends in Cardiff by the Sea, especially given the pandemic and the market shifts Cardiff is seeing during this time.

 

Keep in mind that average prices are significantly affected by the sale of high and/or low priced homes each month, especially when sales volume is low as it has been.

 

seagulls at Cardiff State Beach

 

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.

 

Please keep in mind there are specific CDC recommendations in place, and some new procedures as the result of the Stay-at-Home Order that impact home purchases and sales in our area; I am happy to share that information with you and answer any questions about what this means for buyers and sellers.

 

SEARCH HOMES FOR SALE IN CARDIFF BY THE SEA

 

READ MORE:

What’s My Cardiff-by-the-Sea Home Worth? Market Report for March 2020

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Rainmaker
5,775,677
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will certainly appreciate your local real estate reports.

May 10, 2020 12:27 PM #1
Rainmaker
2,725,949
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Cardiff by the Sea home buyers and sellers are sure to value your real estate market report, Jeff!

May 10, 2020 04:06 PM #2
Rainmaker
3,561,644
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. My first reaction to reports about the California real estate market is, expensive. Thanks for the update. Enjoy your day!

May 11, 2020 05:22 AM #3
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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Thank you Roy Kelley 

I hope so Myrl Jeffcoat 

Hi Wayne Martin I certainly can understand that.

Jeff

May 11, 2020 09:09 AM #4
Rainmaker
603,055
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update Jeff, all the best to you as you get many of these properties listed and sold.

Sally

 

May 15, 2020 02:20 AM #5
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