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 October 2014?

Cardiff Homes for Sale

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

 

Cardiff by the Sea CA oceanview homes and condos for sale, and Properties for sale in Cardiff by the Sea, CABuyer 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 October 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

18 (up 64%)

13 (up 63%)

5 (up 67%)

Average $

$1,331,750 (up 38%)

$1,462,038 (up 29%)

$993,000 (up 92%)

DOM

64

67

56

Sale $/List $ Ratio

93%

93%

91%

The number of homes sold in Cardiff in October rose substantially across the board. Average sales prices also rose significantly for detached homes (with 10 of the homes selling for over $1M and 1 over $3M) and even more substantially for attached homes  (4 of the 5 homes sold over $1M). Buyers were able to negotiate, on average, 7 - 9% off the asking price. 28% of the transactions in October were for cash.

 

Waterfront Homes and Condos for Sale in Cardiff by the Sea, CA, and Cardiff by the Sea Vacation Homes and Condos for Sale

 

 

The Median sale price for detached homes was $1,235,000 (up 56%), and $1,255,000 (up 172%) 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 October 2014 there was 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). 

 

As of October 2014 there were 38 Cardiff homes for sale, down 10% from September, another drop in inventory. This represents an inventory of 2.4 months for attached homes (down from 2.5 months in September), and 3.3 months for detached homes (down from 4.1 months last month).  The Cardiff market remains competitive for buyers, and is a strong seller’s market for attached homes and a seller’s market for detached home buyers.

 

15 Cardiff homes came on the market in October, an increase of 25% from new listings in September; in contrast 13 homes went pending in October (not counting those that sold), 13% fewer than the number of September 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, I am happy to provide detailed reports for you.

 

HOMES FOR SALE IN CARDIFF BY THE SEA CALIFORNIA

 

READ MORE:

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

 

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6 commentsJeff Dowler CRS • November 22 2014 07:42AM
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