What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff Home Sales for August 2023
It’s important that buyers and sellers in the Cardiff real estate market have current information regarding local market conditions. This will enable them to make informed buying and selling decisions about Cardiff homes for sale.
Supply and demand affect selling and buying in several ways, including pricing, competition, and time on market. It’s important to understand how local market conditions can affect 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 August 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). 11 homes sold in August, compared to 7 last month.
Single Family Homes Sold
11 (up 120%); 30 Days on Market; Average Sales Price was $2,511,818 (down 22%); the Average Sales Price was 96% of the original asking price.
Condos, Townhomes & Duplexes Sold – NO SALES
The overall volume of sales in Cardiff improved from last month. There were 6 more single family detached homes sold, but no condo, townhome and duplex sales compared to 2 last month. Sales prices ranged from $1,375,000 to $6,350,000
At the end of August there were no homes in the Cardiff housing market with an Active Under Contract status, the same as in July.
At the end of August there were 13 homes for sale in Cardiff, 6 fewer than in July; 10 of these are single family detached homes. Listings range in price from $1,025,000 to $6,395,000.
There are 1.5 months of inventory for single family homes (down from 3 months last month), and 2.3 months for condos, townhomes and duplexes (up from 2 months last month) based on the rate of sales over the last 3 months.
Cardiff by the Sea housing is a very strong seller’s market for single family homes, based on supply and demand, as well as for condos, townhomes and duplexes. There are only 3 condo, townhome and twinhome listings as of this writing.
3 single family homes sold for asking price or higher. 2 of the 11 sales went pending within 7 days of being listed, the same as last month. Supply continues to be limited in Cardiff, and buyers should not assume some homes won’t sell quickly.
7 listings came on the market in August, compared to 8 last month. 5 homes went pending in August (not including homes that closed escrow), versus 9 in July.
These numbers 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 can provide more information 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 firm conclusions about prices, or other trends. Limited supply and strong buyer demand continue to create a competitive market for buyers.
Keep in mind that average sales prices are affected by sales of higher and/or lower-priced homes each month, especially when sales volume is very low as it was in Cardiff in August.
Please reach out to me at (760) 840-1360 to discuss your particular housing needs, lifestyle, budget, and your 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 July 2023
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