What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff Home Sales for September 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.
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Here’s a summary of the Cardiff real estate market for September 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 15 sales in September, more than double the number last month.
Single Family Homes Sold
11 (up 83%); Average Days on Market was 21; Average Sales Price was $2,147,409 (up 6%); Average Sales Price was 96% of the original asking price
Condos, Townhomes & Duplexes Sold
4 (up by 1); Average Days on Market was 10; the Average Sales Price was $1,153,750 (down 3%); the Average Sales Price was 89% of the original list price
The overall volume of sales in Cardiff more than doubled from last month, especially for single family detached homes. The average sales price was higher for single family homes, but was lower for condos, townhomes and duplexes. Sales prices ranged from $850,000 to $4,250,000.
The median sales price for single family homes was $2,125,000 (up 10%), the median sales price for condos, townhomes and duplexes was $876,000 (down 1%).
At the end of September 2021 there were no homes in the Cardiff housing market with an Active Under Contract status, like last month.
At the end of September there were 11 Cardiff homes for sale, almost twice as many as at the end of August; there is only 1 condo, for sale currently. These listings range in price from $799,000 to $6,995,000.
There is very limited inventory for condos, townhomes and duplexes as of this writing, with only 1 listing. There are 1.2 months of inventory for single family homes (versus 20 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 their sales price, however almost half of the buyers, 47%, paid full price or higher for their new homes. It’s pretty likely buyers will be competing with others, with multiple offers a strong possibility. Buyers should also be prepared to make quick decisions, since 5 of the homes went pending in 7 days or less (33%).
13 Cardiff listings came on the market in September, compared to 12 in August, a minor shift. In contrast, 12 homes went pending in September (not counting homes that closed escrow), versus 18 in August. It was still a busy month for sellers and 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 number of sales one cannot 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, with multiple offers, and some 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.