What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff-by-the-Sea Home Sales for August 2021
It’s essential for buyers and sellers in the Cardiff real estate market to have accurate, up-to-date information about local market conditions in order to make educated 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.
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 August 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 6 sales in August, less than half the number last month.
Single Family Homes Sold
6 (down by 25); Average Days on Market was 29; Average Sales Price was $2,032,500 (up 17%); Average Sales Price was 99% of the original asking price
Condos, Townhomes & Duplexes Sold
3 (down 50%); Average Days on Market was 23; the Average Sales Price was $1,190,333 (up 20%); the Average Sales Price was 98% of the original list price
The overall volume of sales in Cardiff decreased substantially from last month, especially for condos, townhomes and duplexes. The average sales price was higher for single family homes, as well as for condos, townhomes and duplexes. Sales prices ranged from $740,000 to $3,050,000.
The median sales price for single family homes was $1,940,000 (up 16%), the median sales price for condos, townhomes and duplexes was $876,000 (down 1%).
At the end of August 2021 there were no homes in the Cardiff housing market with an Active Under Contract status, versus 2 last month.
At the end of August there were only 6 Cardiff homes for sale (all single family detached homes), less than 1/3 of the inventory at the end of July; there were no condos, townhomes or duplexes for sale at the end of August. These listings range in price from $1,750,000 to $6,995,000.
There is no inventory for condos, townhomes and duplexes as of this writing. There are 20 days of inventory for single family homes (versus 1.1 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 their sales price, however over half of the buyers, 56%, paid full price or higher for their new homes. It’s pretty likely buyers will have to compete with others, with multiple offers a strong possibility. Buyers should also make decisions quickly, since 4 of the homes went pending in 7 days or less (44%).
12 Cardiff listings came on the market in August, compared to 14 in July, not a big difference. In contrast, 18 homes went pending in August (not counting homes that closed escrow), versus only 7 in July – it was a busy month for sellers but especially so for buyers.
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.
Because of the small volume of sales one should not draw firm conclusions about pricing, or other trends, in Cardiff by the Sea. Tight inventory and strong buyer demand have resulted in a competitive market, with some homes going pending quickly, often in less than a week, plus 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 welcome a call at (760) 840-1360 so we can discuss your particular housing needs, lifestyle, and budget, answer all of your questions, and then create a plan to help you buy and/or sell your Cardiff by the Sea home.
SEARCH HOMES FOR SALE IN CARDIFF BY THE SEA
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