What’s the Value of My Cardiff-by-the-Sea Home?
Home Sales for February 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 February 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 4 sales in February, down 1 from last month.
Single Family Homes Sold
4 (up by 1); Average Days on Market was 13; Average Sales Price was $2,816,666 (up 2%); the Average Sales Price was 106% of the original asking price
Condos, Townhomes & Duplexes Sold - NONE
The overall volume of sales in Cardiff dropped slightly, the net result of 1 more single family detached home sale, but no condo, townhome or duplex sales. The average sales price was modestly higher for the single family homes. Sales prices ranged from $1,400,000 to $5,025,000.
The median price for the 4 single family home sales was $2,515,000 (up 1%).
At the end of February 2022 there were no homes in the Cardiff housing market with an Active Under Contract status, compared to 1 last month.
At the end of February there were 8 Cardiff homes for sale, versus 5 at the end of January...6 are single family detached homes. These listings range in price from $806,900 to $6,495,000.
Again there is very limited inventory for condos, townhomes and duplexes as of this writing – just 2 listings. There are 2 months of inventory for single family homes (up from 23 days last month), based on the rate of sales over the last 3 months. There are 26 days of inventory for condos, townhomes and duplexes.
The Cardiff by the Sea housing remains a very strong sellers market.
All 4 buyers paid over asking price for their new homes, one at 13%. If you plan to buy a Cardiff home you can expect to compete with other buyers, especially given the very limited inventory. Buyers should be prepared to make decisions quickly since 2 of the 4 homes went pending in 1 week or less!
12 Cardiff listings came on the market in February, compared to only 2 in January, some good news. 7 homes went pending in February (not including homes that closed escrow that month), versus 2 in January. It was a busier month for sellers and buyers than last month.
Data are derived 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, let me know. I am happy to provide details for these neighborhoods, or other areas of interest. I can also 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 this month you should not draw any conclusions about pricing, or other trends. Tight inventory and strong buyer demand have resulted in a very competitive market, with homes going pending quickly, multiple offers, and over-asking sale prices.
In addition, remember that average sales prices are significantly impacted by sales of high and/or low priced homes each month, especially when sales volume is very low as it tends to be 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.