What’s the Value of My Cardiff-by-the-Sea Home?
Home Sales for October 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 a number of ways, including inventory, pricing, competition, and time on market. You should understand how these conditions affect your buying and/or 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 October 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 11 sales in October, 4 fewer than the number of sales last month.
Single Family Homes Sold
9 (down by 2); Average Days on Market was 18; Average Sales Price was $2,192,851 (up 2%); Average Sales Price was 104% of the original asking price (one at 114% of list price)
Condos, Townhomes & Duplexes Sold
2 (down by 2); Average Days on Market was 9; the Average Sales Price was $892,500 (down 23%); the Average Sales Price was 104% of the original list price
The overall volume of sales in Cardiff dropped from last month, for single family detached homes and for condos, townhomes and duplexes. The average sales price was slightly higher for single family homes, but was significantly lower for condos, townhomes and duplexes (there were only 2 sales). Sales prices ranged from $860,000 to $2,950,000.
The median sales price for single family homes was $2,315,307 (up 9%), the median sales price for condos, townhomes and duplexes was $892,500 (down 24%).
At the end of October 2021 there were no homes in the Cardiff housing market with an Active Under Contract status, the same as the last 2 months.
At the end of October there were only 8 Cardiff homes for sale compared to 11 in September; there are only 2 condos for sale currently. These listings range in price from $749,000 to $6,995,000.
There is very limited inventory for condos, townhomes and duplexes as of this writing, with only 2 listing. There are 21 days of inventory for single family homes (down from 1.2 months last month), based on the rate of sales over the last 3 months. There are 20 days of inventory for condos, townhomes and duplexes.
The Cardiff by the Sea housing remains a very strong sellers market.
While some buyers were able to negotiate their sales price, more than half of the buyers, 63%, paid full price or more for their new homes. If you plan to buy it’s pretty likely you will be competing with others, with multiple offers a strong possibility. Buyers should also plan to make decisions quickly – 1 home sold in 6 days.
8 Cardiff listings came on the market in October, compared to 13 in September. In contrast, 9 homes went pending in October (not counting homes that closed escrow), versus 12 in September. It was still a busy month for sellers and buyers in this limited housing market.
Data are based on information from 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 in Cardiff by the Sea one cannot draw firm conclusions about pricing, or other trends. Tight inventory and strong buyer demand have resulted in a competitive market, with some homes going pending quickly, with multiple offers, and over-asking sale prices in many cases.
It’s important to remember average sales prices are significantly impacted by sales of either high and/or low priced homes each month, especially when sales volume is low as it was in Cardiff.
Please reach out to me at (760) 840-1360 so we can discuss your personal housing needs, lifestyle, and budget, answer your questions, and then create a strategy to help buy and/or sell your Cardiff by the Sea home.
SEARCH HOMES FOR SALE IN CARDIFF BY THE SEA
READ MORE:
What’s My Cardiff-by-the-Sea Home Worth? Market Report for September 2021
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