What’s the Value of My Cardiff-by-the-Sea Home?
Home Sales for March 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 selling and buying in several 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 March 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 10 sales in March, 1 more than last month.
Single Family Homes Sold
7 (up by 3); Average Days on Market was 4; Average Sales Price was $2,360,726 (down 16%); the Average Sales Price was 107% of the original asking price
Condos, Townhomes & Duplexes Sold
3 (up by 3); Average days on market was 13; Average Sales Price was $917,405 (0 sales last month); Average Sales Price was 107% of original asking price.
The overall volume of sales in Cardiff rose, with 3 more single family detached home sales, and 3 condo, townhome or duplex sales (there were no sales in February). The average sales price was lower for the single family homes. Sales prices ranged from $709,215 to $4,700,083.
The median price for the 7 single family home sales was $2,200,000 (down 13%). The median for condos, townhomes and duplexes was $965,000
At the end of March 2022 there were no homes in the Cardiff housing market with an Active Under Contract status, the same as last month.
At the end of March there were only 5 Cardiff homes for sale, versus 8 at the end of February; all are single family detached homes. These listings range in price from $2,999,000 to $6,888,888.
As of this writing there are no condos, townhomes and duplexes for sale. There are 1.1 months of inventory for single family homes (down from 2 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 with limited inventory.
8 of the 10 buyers paid over asking price for their new homes, one at 132% (over $500K). 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 6 of the 10 homes went pending in 1 week or less!
9 Cardiff listings came on the market in March, compared to only 12 in February. 10 homes went pending in March (not including homes that closed escrow that month), versus 7 in February. It was still a busy month for sellers and buyers.
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 limited sales in Cardiff by the Sea this month one can’t draw any firm conclusions about pricing, or other trends. Tight inventory and strong buyer demand continue to cause a very competitive market. Many homes go pending quickly and there are multiple offers, and over-asking sales prices, sometimes significant.
In addition, keep in mind 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 develop a plan to buy and/or sell your Cardiff by the Sea home.