What’s My Cardiff-by-the-Sea Home Worth?  Market Report January 2021

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

Market Report January 2021

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.

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 January 2021 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 9 sales in January, less than half the number in December.

Single Family Homes Sold

6 (down 67%); Average Days on Market was 7; Average Sales Price was $2,476,583 (up 19%); Average sale price was 97% of the original asking price

Condos, Townhomes & Duplexes Sold

3 (down by 2); Average Days on Market was 10; Average Sales Price was $919,000 (down 13%); Average sale price was 102% of original asking price.

The overall volume of sales in Cardiff dropped substantially from last month, with fewer single family home, condos and townhomes sold. The average sales price rose for single family homes (no doubt due, in part, to the sale of 4 of the 6 homes for over $2M each), but declined for condos, townhomes and duplexes. Sales prices ranged from $762,000 to $4,116,500.

The median sales price for single family homes was $2,340,000 (up 21%), and $795,000 (up 10%) for condos, townhomes and duplexes.

At the end of January 2021 there was 1 home in the Cardiff housing market with an Active Under Contract status, the same as last month.

At the end of January there were 12 Cardiff homes for sale, 2 fewer than last month, another drop in inventory. These listings range in price from $999,000 to $4,495,000. 

There are only 6 days of inventory for condos, townhomes and duplexes (about the same as last month) – with just 1 townhome listing when this report was created - and only 25 days for single family homes (compared to 23 days last month), based on the rate of sales over the last 3 months. Is inventory tight? You bet it is!

The Cardiff by the Sea housing remains a very strong sellers market and became even more competitive in January for buyers.

7 of the buyers were able to negotiate the sales price, while 2 paid full price or higher for their new homes (1 townhome sold at 114% of the list price). At this time buyers can expect to be in competition with others with multiple offers likely. Buyers also need to make decisions quickly – 4 of the homes went pending in 1 week or less and the average overall was 8 days.

17 Cardiff listings came on the market in January, compared to 13 in December which was good news. 15 homes went pending in January (not counting homes that sold), versus 11 in December, so 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 housing market reports on these neighborhoods, and to assist you with the sale or purchase of your home in Cardiff by the Sea.

Due to the 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 been experiencing. It's clear buyers have to cope with an inventory shortage these days!

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 in 2021.

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READ MORE:

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