What’s My Cardiff-by-the-Sea Home Worth?
Cardiff Home Sales for January 2022
It’s important for buyers and sellers in the Cardiff real estate market to have accurate and current information about local market conditions so they can make educated buying and selling decisions about Cardiff homes for sale.
Local market conditions impact buying and selling in a number of ways, including supply, pricing, competition, and days on market. It’s important to understand how these market conditions can affect your buying and/or selling decisions. Let’s talk when you are ready!
Read More About Cardiff-by-the-Sea:
Here’s a summary of the Cardiff real estate market for January 2022 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 only 5 sales in January, the same as last month.
Single Family Homes Sold
3 (up by 1); Average Days on Market was 35; Average Sales Price was $2,816,666 (up 60%); the Average Sales Price was 98% of the original asking price
Condos, Townhomes & Duplexes Sold
2 (down by 1); Average Days on Market was 2; the Average Sales Price was $837,500 (down 40%); the Average Sales Price was 97% of the original list price
The overall volume of sales in Cardiff remained the same, with 1 more single family detached home sale, but 1 fewer sale for condos, townhomes and duplexes. The average sales price was higher for single family homes (no doubt due to the sale of 1 home for over $4M which raised the average price substantially), but was lower for condos, townhomes and duplexes (there were only 2 sales). Sales prices ranged from $829,000 to $4,150,000.
The median price for the 3 single family home sales was $2,515,000 (up 42%). The 2 attached homes sold for $780,000 and $895,000.
At the end of January 2022 there was 1 home in the Cardiff housing market with an Active Under Contract status, versus none last month.
At the end of January there were only 5 Cardiff homes for sale, 1 more than at the end of December. These listings range in price from $806,900 to $6,495,000.
There is almost no inventory of condos, townhomes and duplexes as of this report – just 2 listings. There are 23 days of inventory for single family homes (up from 15 days last month), based on the rate of sales over the last 3 months.
Cardiff by the Sea remains a very strong sellers market.
While 3 buyers negotiated their sales price, 2 of the 5 buyers paid full price or more for their new homes. If you plan to buy there’s a good chance you will be competing with others, with multiple offers likely, especially given the very limited inventory. Buyers should be prepared to make decisions quickly since 3 of the 5 homes went pending in 1 week or less!
Only 2 Cardiff listings came on the market in January, compared to 6 in December. 2 homes went pending in January (not counting homes that closed escrow), versus 5 in December. It was a quieter month for sellers and buyers than last month.
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 more details for these neighborhoods, and to assist you with the sale or purchase of a Cardiff by the Sea home.
Because of the limited number of sales in Cardiff by the Sea you cannot draw firm conclusions about pricing, or other trends. Tight inventory and strong buyer demand have created a competitive market, with some homes going pending quickly, with multiple offers, and some over-asking sale prices.
Keep in mind that average sales prices are significantly impacted by sales of either high and/or low priced homes each month, especially when sales volume is very 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 develop a plan to help buy and/or sell your Cardiff by the Sea home.