What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff Home Sales for November 2022
It’s essential that buyers and sellers in the Cardiff real estate market have up-to-date information about the local market conditions so they can make educated buying and selling decisions about Cardiff homes for sale.
Supply and demand affects selling and buying in a number of ways, including pricing, competition, and time on market. It’s important to understand how local 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 November 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 2 sales in November, 6 fewer than last month.
Single Family Homes Sold
2 (down by 4); Average Days on Market was 18; Average Sales Price was $1,487,500 (down 12%); the Average Sales Price was 99% of the original asking price.
Condos, Townhomes & Duplexes Sold - NONE
The overall volume of sales in Cardiff dropped substantially from last month. There were substantially fewer single family detached homes sold, and no condo, townhome or duplex sales. The average sales price was lower for the single family homes. The 2 Sales were at $1,250,000 and $1,725,000.
At the end of November there were no homes in the Cardiff housing market with an Active Under Contract status, the same as the last 2 months.
At the end of November there were 9 homes for sale in Cardiff, up 1 from last month; 8 of these are single family detached homes. Listings range in price from $824,900 to $9,490,000.
At the time this report was compiled there was only 1 condo available for sale. There are only 1.3 months of inventory for single family homes (up from 1.1 months last month), based on the rate of sales over the last 3 months, and only 1 month for condos, townhomes and duplexes.
The Cardiff by the Sea housing remains a very strong sellers market based on supply and demand, for single family homes and especially for condos, town homes and duplexes.
1 of the 2 buyers paid over asking price for their new home. Supply is very limited so competition remains likely. One should not assume some homes won’t sell quickly even though we are seeing a market shift - 1 single family home went pending in 5 days, the other took 32 days.
4 listings came on the market in November, the same as in October. And 2 homes went pending in November (not including homes that closed escrow), versus 3 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 very small number of sales in Cardiff by the Sea one cannot draw conclusions about pricing, or other trends. Limited supply and strong buyer demand continue to create a competitive market although things have improved for buyers. Homes in general tend to go pending quickly, but the average time on the market has increased. We are seeing fewer sales with over-asking prices.
Remember that average sales prices are impacted by sales of higher 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.