Cardiff Real Estate Market Report for July 2011
As a buyer or seller in the Cardiff real estate market, having information about the current market conditions will enable you to make an informed decision regarding what to do with regard to buying a home in Cardiff, or selling your Cardiff home.
The Cardiff real estate market is small and very localized, and knowing what is going on with regard to inventory and sales is important for making an informed buying or selling decision. Finding comparables for determining price for either a listing or a purchase can sometimes be tricky because of the limited inventory and the diversity of homes for sale.
READ MORE:
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 July 2011 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 |
15 (up 36%) |
13 (up 62%) |
2 (down 67%) |
|
Average $ |
$1,006,986 (up 23%) |
$1,037,600 (up 6%) |
$808,000 (up 103%) |
|
DOM |
74 |
78 |
44 |
|
Sale $/List $ Ratio |
95% |
96% |
93% |
The number of homes sold in Cardiff in July rose by 4 sales from last month. Average sales prices also rose across the board. Given the very small number of homes sold, especially for attached homes, however, it is unwise to draw any conclusions about trends, especially given pricing.
At the end of July 2011 there were 8 homes in the Cardiff real estate market with a Contingent status, 3 less than last month (i.e., short sale and REO homes that had offers being reviewed by the lenders). Until approved these homes are considered active and are included in the Active statistics below.
As of July 2011 there were 78 Cardiff homes for sale, 4 more than last month (up 5%), thus inventory has remained stable in the Cardiff real estate market for several months. This represents an inventory of only 4.3 months for attached homes (down from 5.5 last month) and 5.6 months for detached homes (down from 8.4 months in June).
17 Cardiff homes came on the market in July, 35% less than last month, which means a likely more competitive market. 8 homes went pending as compared to 17 in June, less than half the number.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
Data are based on information provided by the MLS for homes that went under contract in the last couple of months. 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.
Search for Homes for Sale in Cardiff by the Sea
READ MORE:
Cardiff Homes for Sale | Cardiff Real Estate Market Report for June 2011
Cardiff Homes for Sale | Cardiff Real Estate Market Report for May 2011
Cardiff Homes for Sale | Cardiff Real Estate Market Report for April 2011
Cardiff Homes for Sale | Cardiff Real Estate Market Report for March 2011
Cardiff Homes for Sale | Cardiff Real Estate Market Report for February 2011
Cardiff Homes for Sale | Cardiff Real Estate Market Report for January 2011
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☂ Jeff, how right you are! Knowing what is going on 'locally' makes all the difference in the world in real estate! You report some very healthy percentage increases in Cardiff. Here's to the continued up tick in Cardiff.
Pamela
Jeff, the pictures always capture me and it must be a beautiful location to sell homes in ...especially at that price range...have a great week.
Pamela - the prices in Cardiff bounce around quite a bit. Not so much becuase of actual changes but when you look at averages the inventory really has an impact. One month there are several million $+ homes sold and the next month none.
Ginny - Cardiff IS a beautiful community, which is why prices remain fairly high. And there tends not to be a lot of inventory since it is a fairly small town.
Jeff