What’s the Value My Cardiff-by-the-Sea Home?
Cardiff Home Sales for February 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.
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Here’s a summary of the Cardiff real estate market for February 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 14 sales in February, up 56% from January.
Single Family Homes Sold
11 (up 83%); Average Days on Market was 21; Average Sales Price was $1,907,000 (down 23%); Average sale price was 98% of the original asking price
Condos, Townhomes & Duplexes Sold
3 (no change); Average Days on Market was 2; Average Sales Price was $773,333 (down 16%); Average sale price was 107% of original asking price (1 at 110%).
The overall volume of sales in Cardiff rose from last month, with more single family homes sold. The average sales price declined for single family homes (no doubt due, in part, to the sale of 4 homes last month for over $2M each that raised the average), and also declined for condos, townhomes and duplexes. Sales prices ranged from $745,000 to $3,630,000.
The median sales price for single family homes was $1,800,000 (down 23%), and $765,000 (down 4%) for condos, townhomes and duplexes.
At the end of February 2021 there were 2 homes in the Cardiff housing market with an Active Under Contract status, compared to 1 last month.
At the end of February there were 14 Cardiff homes for sale, 2 more than last month. These listings range in price from $999,000 to $4,495,000.
There are 1.1 months of inventory for condos, townhomes and duplexes (an increase from only 6 days last month) – with 4 listings when this report was created - and 26 days for single family homes (compared to 25 days last month), based on the rate of sales over the last 3 months.
The Cardiff by the Sea housing remains a very strong sellers market.
Some buyers were able to negotiate the sales price, while 8 paid full price or higher for their new homes (1 townhome sold at 110% of the list price). At this time buyers can expect to be in competition with others, with multiple offers very likely. They also need to make decisions quickly – 7 of the homes went pending in 1 week or less (50%).
15 Cardiff listings came on the market in February, compared to 17 in January. 12 homes went pending in February (not counting homes that sold), versus 15 in January, so it was still a fairly busy month for 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, 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 so far 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.