Carlsbad Real Estate News and Views

Here's the REAL scoop on living in Carlsbad ~ beaches, things to do, places to eat, community events, and of course neighborhoods, homes and the Carlsbad real estate market in general, including surrounding communities like Encinitas, Cardiff, San Marcos, Oceanside, Solana Beach and Del Mar.

What Happened in the Cardiff Real Estate Market for March 2014?

Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market for March 2014?

Homes and Condos for Sale in Cardiff by the Sea CA and Cardiff properties for saleBuyer and sellers in the Cardiff real estate market need information about local and current market conditions in order to make informed decisions about Cardiff homes for sale

The Cardiff-by-the-Sea housing market is small and very localized, and finding comparables for determining price for either a listing or a purchase can be tricky due to limited inventory, the diversity of Cardiff properties for sale, and market fluctuations. 

Want to learn more about Cardiff-by-the-Sea? 

 Cardiff by the Sea – Quintessential Beach Community 

A Visual Tour of Cardiff-by-the-Sea

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 is a summary of the Cardiff real estate market for March 2014 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed. 

 

TOTAL

  DETACHED

ATTACHED

# SOLD

6 (down 33%)

2 (down 71%)

4 (up 100%)

Average $

$1,041,333 (down 12%)

$2,010,000 (up 44%)

$557,000 (up 31%)

DOM

39

91

13

Sale $/List $ Ratio

99%

98%

99%

The number of homes sold in Cardiff in March dropped for detached single family homes but saw a doubling of attached home sales. Interestingly average sales prices rose significantly; for detached homes this was due to the sale of  1 homes at $3.2M which threw of the average. Buyers were able to negotiate, on average, between 1 and 2% off the asking price with 1 detached home selling at asking price and 1 attached selling over asking price. None of the homes were short sales and 33% of the transactions were for cash in March.

Cardiff homes for sale and homes and condos for sale in Cardiff by the Sea CA

The Median sale price for detached homes was $2,010,000 (up by 106%) however this is thrown off by the sale of the $3.2M home, and $542,500 (up 27%) for attached homes. Given the small number of homes sold, it is unwise to draw any conclusions about trends, especially given pricing.

At the end of March 2014 there was only 1 home in the Cardiff housing market with a Contingent status, the same as last month (i.e., short sale and REO homes that had accepted offers being reviewed by the lenders). Until approved these homes are considered active and are included in the Active statistics below. 

As of March 2014 there were 27 Cardiff homes for sale, down 7% from February. This represents an inventory of 1.3 months for attached homes (up from 1.2 months last month), and 3.4 months for detached homes (up from 3 months last month).  The Cardiff market remains competitive for buyers, especially for attached homes/condos, and continues to be a strong seller’s market.

16 Cardiff homes came on the market in March, down 27% from the number of new listings in February; in contrast 15 homes went pending in March, 50% more than the number of February pendings.

READ MORE:

How Important is Inventory when Buying or Selling? Very!!

Data are based on information provided by the MLS for homes. If you would like more details about the Cardiff real estate market with regard to current activity as well as the specific areas such as the Walking District and the Composer District, please let me know.

HOMES FOR SALE IN CARDIFF BY THE SEA CALIFORNIA

READ MORE:

Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market in February 2014?

Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market in January 2014?

Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market in December 2013?

 

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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com

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1 commentJeff Dowler CRS • April 16 2014 08:18PM
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