What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff by the Sea Home Sales for July 2022
It’s essential that buyers and sellers in the Cardiff real estate market have up-to-date information about local market conditions in order to make informed selling and buying decisions about Cardiff homes for sale.
Supply and demand affects selling and buying in several ways, including pricing, competition, and time on market. It’s important to understand how these market conditions impact your buying and/or selling decisions. Let’s talk now!
Read More About Cardiff-by-the-Sea:
Cardiff by the Sea – Quintessential Beach Community
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Here’s a summary of the Cardiff real estate market for July 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 6 sales in July, 3 fewer than last month.
Single Family Homes Sold
5 (no change); Average Days on Market was 38; Average Sales Price was $2,167,200 (down 15%); the Average Sales Price was 95% of the original asking price.
Condos, Townhomes & Duplexes Sold
1 (down by 3); Days on market was 29; Sales Price was $890,000; the Sales Price was 99% of original asking price.
The overall volume of sales in Cardiff dropped last month. The same number of single family detached homes sold, but there was only 1 townhome sale. The average sales price was lower for the single family homes. Sales prices ranged from $890,000 to $3,750,000.
The median price for the single family home sales was $2,000,000 (22% lower than last month).
At the end of July 2022 there was 1 home in the Cardiff housing market with an Active Under Contract status, compared to none last month.
At the end of July there were 18 homes for sale in Cardiff, the same as last month; 16 of these are single family detached homes. Listings range in price from $799,000 to $10,000,000.
When this report was compiled there were only 2 condos, townhomes and duplexes for sale. There are 2.8 months of inventory for single family homes (up from 2.7 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 based on supply and demand, especially for condos and town homes.
1 of the 6 buyers paid over asking price for their new home. Given the supply, you can likely expect competition. Don’t assume homes don’t sell quickly even though we are seeing a market shift - 2 of the 6 homes were pending in 1 week or less.
7 Cardiff listings came on the market in July, compared to 18 in June. 4 homes went pending in July (not including homes that closed escrow that month), versus 6 last month. It was a quieter housing market in July, perhaps not a surprise given the summer.
Data are derived from the MLS. If you would like more specifics about the Cardiff real estate market, or for particular areas including the Walking District and the Composer District, I can help. 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 if that is your goal.
Because of the limited number of sales in Cardiff by the Sea one should not draw firm conclusions about pricing, or other trends. Limited supply and strong buyer demand continue to create a very competitive market. Homes tend to go pending quickly, with multiple offers, and over-asking sales prices, sometimes significant.
Keep in mind 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 was in Cardiff.
Please reach out to me at (760) 840-1360 to discuss your particular housing needs, lifestyle, budget, and questions. Then we can develop a plan to 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 June 2022
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