What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff Home Sales for August 2022
Buyers and sellers in the Cardiff real estate market need to have up-to-date information about local market conditions so they can make educated 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:
Here’s a summary of the Cardiff real estate market for August 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 7 sales in August, 1 more than last month.
Single Family Homes Sold
4 (down by 1); Average Days on Market was 56; Average Sales Price was $2,213,187 (up 2%); the Average Sales Price was 95% of the original asking price.
Condos, Townhomes & Duplexes Sold
3 (up by 2); Days on market was 13; the Average Sales Price was $995,000; the Sales Price was 96% of original asking price.
The overall volume of sales in Cardiff rose slightly from last month. There was 1 fewer single family detached home sold, but 2 more condo, duplex and townhome sales. The average sales price was modestly higher for the single family homes. Sales prices ranged from $800,000 to $2,960,000.
The median price for the single family home sales was $2,243,250 (12% higher than last month).
At the end of August 2022 there were 2 homes in the Cardiff housing market with an Active Under Contract status, compared to 1 last month.
At the end of August there were 17 homes for sale in Cardiff, down 1 from last month; 15 of these are single family detached homes. Listings range in price from $980,000 to $10,000,000.
At the time this report was compiled there were only 2 condos, townhomes and duplexes available for sale. There are 3.2 months of inventory for single family homes (up from 2.8 months last month), based on the rate of sales over the last 3 months, and 1.1 months for condos, townhomes and duplexes.
The Cardiff by the Sea housing remains a strong sellers market based on supply and demand, and is a very strong seller’s market for condos, town homes and duplexes.
1 buyer paid asking price, and 1 paid over asking price for their new homes. Supply is very limited so competition is likely. One cannot assume homes won’t sell quickly even though we are seeing a market shift - 2 of the 7 homes went pending in 1 week or less.
10 Cardiff listings came on the market in August, compared to 7 in July. 8 homes went pending in August (not including homes that closed escrow), versus 4 last month.
These statistics are based on data in 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, and 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 now or in the future.
Because of the limited number of sales in Cardiff by the Sea one should not draw conclusions about pricing, or other trends. Limited supply and strong buyer demand continue to create a competitive market. Some homes go pending quickly, with multiple offers, and over-asking sales prices.
Keep in mind that average sales prices are impacted by sales of high and/or lower-priced homes each month, especially when sales volume is very low as it is in Cardiff.
Please reach out to me at (760) 840-1360 to discuss your personal housing needs, lifestyle, budget, and questions. Then we’ll develop a plan to buy and/or sell your Cardiff by the Sea home.