What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff-by-the-Sea Home Sales in April 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
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Here’s a summary of the Cardiff real estate market for April 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 April, 2 fewer than last month.
Single Family Homes Sold
7 (down 46%); Average Days on Market was 6; Average Sales Price was $2,087,714 (down 10%); Average sale price was 105% of the original asking price (1 home sold at 28% over asking at $550,000)
Condos, Townhomes & Duplexes Sold
7 (up 133%); Average Days on Market was 13; Average Sales Price was $1,391,214 (no change); Average sale price was 99% of original asking price.
The overall volume of sales in Cardiff dropped by 2 from last month, with substantially fewer single family homes sold but more than twice as many condos, townhomes and duplexes. The average sales price was lower for single family homes, but about the same for condos, townhomes and duplexes. Sales prices ranged from $688,500 to $3,825,000.
The median sales price for single family homes was $1,749,000 (down 15%), and $1,150,000 (down 17%) for condos, townhomes and duplexes.
At the end of April 2021 there were no homes in the Cardiff housing market with an Active Under Contract status, like last month.
At the end of April there were 21 Cardiff homes for sale, a very nice increase of 61% from last month. These listings range in price from $799,000 to $6,888,888.
There are 28 days of inventory for condos, townhomes and duplexes (compared to 10 days last month) – with only 4 listings when this report was created. And there are only 6 days of inventory for single family homes (compared to 1.2 months 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 down, however well over half, 71%, paid full price or higher for their new homes - 1 home sold at 128% of the list price ($550,000 over). In this market buyers can expect to be in competition with others, with multiple offers very likely. Buyers also need to make decisions quickly – 8 of the homes went pending in 1 week or less (57%).
20 Cardiff listings came on the market in April, compared to 19 in March. 9 homes went pending in April (not counting homes that sold), versus 14 in March, another 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, 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. Tight inventory and strong buyer demand is creating a very competitive market with multiple offers, over-asking sales prices, and homes going pending quickly.
Keep in mind average sales 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.
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READ MORE:
What’s My Cardiff-by-the-Sea Home Worth? Market Report for March 2021
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