What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff Home Sales for February 2024
It’s important if you are a buyer or seller in the Cardiff real estate market to have up-to-date information about local market conditions. This will enable you to make educated buying and selling decisions about Cardiff homes for sale.
Supply and demand impact selling and buying in several ways, including pricing, the competition, and time on market. It’s important to understand how local market conditions may 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 February 2024 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). 12 homes sold in February, 3 times the number of sales last month.
Single Family Homes Sold
9 (up by 6); 26 Days on Market; Average Sales Price was $2,767,000 (up 24%); the Average Sales Price was 97% of the original asking price.
Condos, Townhomes & Duplexes Sold
3 (up by 2); 21 Days on Market; Average Sales Price was $1,550,000 (up 56%); Average Sales Price was 100% of original asking price.
The overall volume of sales in Cardiff tripled from last month. There were 6 more single family detached homes sold, and 3 condo, townhome and duplex sales compared to 1 last month. Sales prices ranged from $825,000 to $4,250,000. Seven of the 12 sales were cash buyers.
At the end of February there was 1 home in the Cardiff housing market with an Active Under Contract status, the same as last month.
As of February 29th there were 17 homes for sale in Cardiff, up by 4 from last month; 10 of these are single family detached homes. Listings range in price from $885,000 to $7,495,000.
There are 1.7 months of inventory for single family homes (down from 2.3 months last month), and 4.2 months for condos, townhomes and duplexes (up from 1.5 months last month) based on the rate of sales over the last 3 months.
Cardiff by the Sea housing continues to be a very strong seller’s market for single family homes and is a seller’s market for condos, townhomes and duplexes, considering supply and demand.
6 (50%) of the homes sold for asking price or more. 6 homes went pending within 7 days of being listed. Supply continues to be relatively limited in Cardiff, and buyers should not assume some homes won’t sell quickly.
14 listings came on the market in February, compared to 10 in January. 11 homes went pending in February (excluding homes that closed escrow), versus 10 last month.
This information was derived from the MLS. If you would like more details about the Cardiff real estate market, or information about particular areas including the Walking District and the Composer District, let me know. I can share 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 should not draw firm conclusions about prices, or other trends. Limited supply and strong buyer demand continue to create a competitive environment for home 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 low as it was in Cardiff in February.
Please reach out to me at (760) 840-1360 to discuss your personal housing needs, lifestyle, budget, and any questions. Then we can develop a strategy to help you 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 January 2024
Comments(4)