What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff Home Sales for October 2020
It’s important for buyers and sellers in the Cardiff real estate market to have accurate and current information about local market conditions in order to make informed decisions about Cardiff homes for sale.
Local market conditions will impact buying and selling in terms of inventory, pricing, competition, and time on market, and you should understand how these conditions can affect your buying and selling decisions. The pandemic is causing some market shifts as well!
Read More About Cardiff-by-the-Sea:
Here’s a summary of the Cardiff real estate market for October 2020 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). There were 24 total sales in October, up by 4 from September (20%) and another increase in sales.
Single Family Homes Sold
17 (up 1 from last month); Average Sales Price was $1,771,883 (no change); Average sale price was 94% of the original asking price
Condos, Townhomes & Duplexes Sold
7 (up by 3); Average Sales Price was $1,137,642 (up 31%); Average sale price was 100% of original asking price (5 of the 7 sales were at or above asking price)
The overall volume of sales in Cardiff rose from last month, with 1 more single family home selling, but 3 more condos, townhomes and duplexes sold. The average sales price did not shift for single family homes, but was significantly higher for condos, townhomes and duplexes, no doubt due to the sale of 4 the properties for over $1.1M which raised the average substantially.
The median sales price for single family homes was $1,705,000, and $1,125,000 for condos, townhomes and duplexes.
At the end of October 2020 there was 1 home in the Cardiff housing market with an Active Under Contract status, compared to 2 last month.
At the end of October there were 28 Cardiff homes for sale, 5 fewer than last month, another inventory decrease. These listings range in price from $619,000 to $6,495,000. There are only 1.4 months of inventory for condos, townhomes and duplexes (the same as last month), and only 1.4 months for single family homes (down from 2 months last month), based on the rate of sales over the last 3 months.
The Cardiff by the Sea housing market continues to strongly favor sellers and became more competitive overall in October.
18 Cardiff listings came on the market in October, compared to 23 in September. 18 homes went pending in October (not counting the homes that sold), versus 24 in September, so it was a fairly busy month for both sellers and buyers.
Data are based on information provided by the MLS. If you would like more details about the Cardiff real estate market, as well as for specific areas including the Walking District and the Composer District, I am happy to provide detailed reports on these neighborhoods for you, and to assist you with the sale or purchase of a home in Cardiff by the Sea.
Due to the relatively small volume of sales one should not draw firm conclusions about pricing and other trends in Cardiff by the Sea, especially given the pandemic and the market shifts Cardiff has been experiencing.
Keep in mind that average prices are significantly affected by the sale of high and/or low priced homes each month, especially when sales volume is low.
I invite you to reach out to me at (760) 840-1360 so we can discuss your specific housing needs, lifestyle, and budget, answer all of your questions, and then create a strategy to help you buy and/or sell your Cardiff by the Sea home.
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If I can provide more information about homes for sale in Carlsbad and in surrounding areas, local housing market conditions, or assist you, friends or family in a purchase or sale, please call or text me at (760) 840-1360, or email me at JeffDowlerSolutions@gmail.com
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