What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff Home Sales for December 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 buying and selling 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.
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Here’s a summary of the Cardiff real estate market for December 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 23 total sales in December, 1 more than in November.
Single Family Homes Sold
18 (up 2 from last month); Average Days on Market was 47; Average Sales Price was $2,072,881 (down 7%); Average sale price was 99% of the original asking price
Condos, Townhomes & Duplexes Sold
5 (down by 1); Average Sales Price was $1,051,550 (down 5%); Average sale price was 101% of original asking price.
The overall volume of sales in Cardiff rose slightly from last month, with 2 more single family home sales and 1 less town home. The average sales price declined for single family homes and for condos, townhomes and duplexes.
The median sales price for single family homes was $1,930,000 (down 7%), and $725,000 (down 17%) for condos, townhomes and duplexes.
At the end of December 2020 there was 1 home in the Cardiff housing market with an Active Under Contract status, compared to none last month.
At the end of December there were 14 Cardiff homes for sale, 5 fewer than last month, a significant drop in inventory but not a big surprise given the holidays. These listings range in price from $794,000 to $4,495,000.
There are only 8 days of inventory for condos, townhomes and duplexes (about the same as last month) – with only 2 listings when this report was created - and only 23 days for single family homes (down from 1.4 months last month), based on the rate of sales over the last 3 months.
The Cardiff by the Sea housing is a very strong sellers market and became even more competitive in December for buyers due to a decline in inventory.
While a number of buyers were able to negotiate the sales price, at the same time 35% of the homebuyers paid full price or higher for their new homes. At this time buyers can expect to be in competition with others, with multiple offers likely. Buyers also should expect to make decisions quickly – 39% of the homes went pending in 1 week or less.
13 Cardiff listings came on the market in December, compared to 16 in November. 11 homes went pending in December (not counting the homes that sold), versus 15 in November - it was still a fairly busy month for sellers and buyers despite the holidays.
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, 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 market shifts Cardiff has experienced this year.
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.
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.