What’s My Cardiff-by-the-Sea Home Worth? Market Report January 2023

What’s the Value of My Cardiff-by-the-Sea Home?

Cardiff Home Sales for January 2023

It’s essential that buyers and sellers in the Cardiff real estate market have up-to-date information about the local market conditions in order to make informed 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:

 Cardiff by the Sea – Quintessential Beach Community 

Like to Walk? Live in the Walking District in Cardiff CA

Want to Live in a Musical Community? Try the Composer District in Cardiff, CA

Here’s a summary of the Cardiff real estate market for January 2023 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). Only 1 property sold in January, compared to 2 last month.

Single Family Homes Sold
1 (down by 1); 0 Days on Market; Sales Price was $3,850,000; the Sales Price was 96% of the original asking price. 

Condos, Townhomes & Duplexes Sold - NONE

The overall volume of sales in Cardiff was down from last month. There was only 1 single family detached home sold. And there were no condo, townhome or duplex sales for the 3rd month in a row.

At the end of January there were no homes in the Cardiff housing market with an Active Under Contract status, the same as the last 5 months.

At the end of January there were 15 homes for sale in Cardiff, up 3 from last month, another increase; 13 of these are single family detached homes. Listings range in price from $824,900 to $6,995,000 (same as in December). 

At the time this report was compiled there was only 1 condominium and 1 townhome for sale. There are 7.8 months of inventory for single family homes (up from 3 months last month), based on the rate of sales over the last 3 months.

The Cardiff by the Sea housing is now a buyer’s market, based on supply and demand, for single family homes.

The 1 single family home sale sold for less than asking, and went pending the day it came back on the market after a prior buyer could not perform. Supply remains limited in Cardiff. One should not assume some homes won’t sell quickly even though we are seeing a market shift. However, the 1 condo and 1 townhome on the market have been listed for some time.

9 listings came on the market in January, up from December. Similarly, 5 homes went pending in January (not including homes that closed escrow), versus none in December.

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 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.

Keep in mind 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.

SEARCH HOMES FOR SALE IN CARDIFF BY THE SEA

READ MORE:

What’s My Cardiff-by-the-Sea Home Worth? Market Report for December 2022