What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff Home Sales for September 2020
It’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 will impact buying and selling in terms of inventory, pricing, competition, and time on market, and you should understand how these conditions can affect your buying and selling decisions. The pandemic is causing some market shifts as well!
Read More About Cardiff-by-the-Sea:
Here’s a summary of the Cardiff real estate market for September 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). There were 20 total sales in September, up by 4 from August (25%).
Single Family Homes Sold
16 (up 7 from last month); Average Sales Price was $1,764,406 (down 1%); Average sale price was 90% of the original asking price
Condos, Townhomes & Duplexes Sold
4 (down 43%); Average Sales Price was $865,250 (down 40%); Average sale price was 103% of original asking price (2 sold at asking, and 2 sold at 5% over list price)
The overall volume of sales in Cardiff shifted up from last month, with 7 more single family homes selling but almost half the number of condos, townhomes and duplexes sold. The average sales price dropped slightly for single family homes, and was significantly lower for condos, townhomes and duplexes no doubt due to the sale last month of 6 properties selling for over $1.3M which raised the average substantially.
At the end of September 2020 there were 2 homes in the Cardiff housing market with a Contingent status (now called “Active Under Contract in our MLS), compared to 0 last month. Sometimes these listings are short sale and REO homes with accepted offers being reviewed by the lenders, most often when they occur these days they are first right of refusals, as these 2 homes were.
At the end of September there were 33 Cardiff homes for sale, 6 fewer than last month. These listings range in price from $737,000 to $6,950,000. There are 1.4 months of inventory for condos, townhomes and duplexes (down from 1.9 months last month), and only 2 months for single family homes (down from 3.1 months last month), based on the rate of sales over the last 3 months.
The Cardiff market strongly favors sellers and became more competitive in September.
23 Cardiff listings came on the market in September, compared to 20 in August. 24 homes went pending in September (not counting the homes that sold), compared to 13 in August, so it was a very busy month for both sellers and buyers.
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, especially given the pandemic and the market shifts Cardiff has been experiencing.
Keep in mind that average prices are significantly affected by the sale of higher and/or lower 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 specific housing needs, lifestyle, and budget, answer all of your questions, and then create a strategy to help you buy and/or sell your Cardiff by the Sea home.