What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff Home Sales for July 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 impact buying and selling in terms of inventory, pricing, competition, and time on market, and you should understand how these conditions affect your buying and selling decisions.
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Here’s a summary of the Cardiff real estate market for July 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 July, 4 fewer than last month.
Single Family Homes Sold
8 (down by 5); Average Days on Market was 10; Average Sales Price was $1,732,125 (down 35%); Average Sales Price was 101% of the original asking price
Condos, Townhomes & Duplexes Sold
6 (up by 1); Average Days on Market was only 5; the Average Sales Price was $989,499 (down 34%); the Average Sales Price was 106% of the original list price
The overall volume of sales in Cardiff decreased from last month, with 5 fewer single family homes sold but more condos, townhomes and duplexes. The average sales price was lower for single family homes (no doubt due to the 8 sales last month over $2M that raised the average). Sales prices ranged from $713,000 to $2,202,000.
The median sales price for single family homes was $1,667,500 (down 24%), the median sales price for condos, townhomes and duplexes was $887,000 (down 37%).
At the end of July 2021 there were 2 homes in the Cardiff housing market with an Active Under Contract status, versus none last month.
At the end of July there were 19 Cardiff homes for sale, up by 4 from last month. These listings range in price from $749,000 to $7,495,000.
There are only 15 days of inventory for condos, townhomes and duplexes (compared to 24 days last month). There are 1.5 months of inventory for single family homes (versus 1 month 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 their sales price, however the majority, 70%, paid full price or higher for their new homes. In this market buyers can expect to compete with others, with multiple offers likely. Buyers also need to make decisions quickly, since 8 of the homes went pending in 7 days or less (57%).
14 Cardiff listings came on the market in July, compared to 17 in June. 7 homes went pending in July (not counting homes that closed escrow), versus 10 in June – it was a busy month for buyers and sellers.
Data are based on information in the MLS. If you would like more details about the Cardiff real estate market, or 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.
One should not draw firm conclusions about pricing, or other trends, in Cardiff by the Sea due to the small volume of sales. Tight inventory and strong buyer demand have resulted in a competitive market, with homes going pending quickly, often in less than a week, with multiple offers, and over-asking sale prices.
It’s important to 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 particular housing needs, lifestyle, and budget, answer all of your questions, and create a plan to help you buy and/or sell your Cardiff by the Sea home.