What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff by the Sea Home Sales for September 2022
It’s important for buyers and sellers in the Cardiff real estate market to have current information about local market conditions so they can 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 can 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 September 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 11 sales in September, 4 more than last month.
Single Family Homes Sold
10 (up by 6); Average Days on Market was 23; Average Sales Price was $2,094,450 (down 5%); the Average Sales Price was 99% of the original asking price.
Condos, Townhomes & Duplexes Sold
1 (down by 2); Days on market was 7; the Sales Price was $1,040,000; the Sales Price was full asking price.
The overall volume of sales in Cardiff rose significantly from last month. There were over twice as many single family detached homes sold, but only 1 condo sale. The average sales price was modestly lower for the single family homes. Sales prices ranged from $1,040,000 to $4,257,000.
The median price for the single family home sales was $1,567,500 (30% lower than last month).
At the end of September 2022 there were no homes in the Cardiff housing market with an Active Under Contract status, compared to 2 last month.
At the end of September there were 12 homes for sale in Cardiff, down 5 from last month; 10 of these are single family detached homes. Listings range in price from $824,500 to $10,000,000.
At the time this report was compiled there was only 1 condo and 1 duplex available for sale. There are only 1.6 months of inventory for single family homes (down from 3.2 months last month), based on the rate of sales over the last 3 months, and 1.2 months for condos, townhomes and duplexes (1.1 last month).
The Cardiff by the Sea housing remains a very strong sellers market based on supply and demand, for single family homes as well as for condos, town homes and duplexes.
5 buyers paid asking price or higher 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 - 6 homes went pending in 1 week or less (55%).
8 listings came on the market in September, compared to 10 in August. And 5 homes went pending in September (not including homes that closed escrow), versus 8 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 small 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. Homes in general tend to go pending quickly, some likely with multiple offers and with over-asking sales prices.
Remember 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 was in Cardiff.
Please reach out to me at (760) 840-1360 to discuss your personal housing needs, lifestyle, budget, and any questions. Then we can create a plan to buy and/or sell your Cardiff by the Sea home.