What’s the Value of My Cardiff-by-the-Sea Home?
Cardiff by the Sea Home Sales for March 2019
Buyers and sellers in the Cardiff real estate market need accurate and up to date information about the current local market conditions in order to make informed decisions about Cardiff homes for sale.
Local market conditions have a big impact on buying and selling – inventory, pricing, competition, time on market - and you need to understand these circumstances and how they could affect your purchase or sale.
Learn More About Cardiff-by-the-Sea:
Here is a summary of the Cardiff real estate market for March 2019 based on information provided by the MLS (private sales are not included; data are believed to be accurate as of this writing but are not guaranteed). A total of 15 homes sold during March, more than double the number of sales in February (up 114%).
Detached Homes Sold
10 (up 150%); Average of 34 Days on Market, Average Sales Price $1,488,085 (up 14%); Average sale 95% of original asking price
Attached Homes (condos, town homes, twin homes) Sold
5 (up 67%); Average of 34 Days on Market, Average Sales Price $1,172,487 (up 80%). Average sale was 97% of original asking price
The overall volume of sales in Cardiff rose significantly from last month, but especially for detached single family homes. 40% of the transactions in March were for cash, compared to 14% last month. While home buyers negotiated between 3 and 5% of the original asking price, on average, 33% of the buyers paid asking price or better for their homes. The time on market did not shift from last month for detached single family homes but was longer for attached homes, but both were around 1 month.
At the end of March 2019 there were no homes in the Cardiff housing market with a Contingent status, compared to 1 last month (i.e., some Contingent listings are short sale and REO homes that have accepted offers being reviewed by the lenders, but these days most tend to be first rights of refusal where offers have been accepted that are contingent on the sale of a buyer’s home).
As of the end of March 2019 there were 33 Cardiff homes for sale, another significant bump up in inventory (up 43%), the most inventory we have seen since August 2018. This represents an inventory of 3.8 months for attached homes (down from 4.9 months last month), and 2.9 months for detached homes (up from 2.7 months last month) based on the rate of sales over the last 3 months. The Cardiff market remains a strong seller’s market for buyers of detached homes and is a seller’s market for attached home buyers.
20 Cardiff listings came on the market in March, 1 less than in February. 13 homes went pending in March (not counting those that sold), an increase in pendings by 44% from February, and another sign of our active Cardiff housing market.
Data are based on information provided by the MLS. If you would like more details about the Cardiff real estate market with regard to current activity as well as the specific areas including the Walking District and the Composer District, I am happy to provide detailed reports on these specific areas for you and to assist you with the sale or purchase of a home in Cardiff by the Sea.
Due to the small volume of sales one should not draw firm conclusions about pricing and other trends in Cardiff by the Sea. Keep in mind that average prices can be dramatically affected by the sale of high and/or low priced homes each month, especially when sales volume is low.
Please call me at (760) 840-1360 so we can discuss your housing needs, answer all questions, and create a plan to help you buy or sell your Cardiff home in 2019.
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If I can provide more information about homes for sale in Carlsbad and in surrounding areas, our local housing market conditions, or assist you, friends or family in a purchase 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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