Cardiff Real Estate Market Report for August 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.
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Here is a summary of the Cardiff real estate market for August 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 |
9 (down 40%) |
7 (down 46%) |
2 (no change) |
|
Average $ |
$943,555 (down 6%) |
$1,058,142 (up 2%) |
$542,500 (down 33%) |
|
DOM |
28 |
35 |
2 |
|
Sale $/List $ Ratio |
92% |
90% |
98% |
The number of homes sold in Cardiff in August declined from last month. Average sales prices rose slightly for detached homes and also overall. Days on market dropped dramatically 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 August 2011 there were 6 homes in the Cardiff real estate market with a Contingent status, 2 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 August 2011 there were 76 Cardiff homes for sale, 2 fewer than last month, thus inventory has remained fairly stable in the Cardiff real estate market for several months. This represents an inventory of only 6.5 months for attached homes (up from 4.3 last month) and 5.9 months for detached homes (up from 5.6 months in July).
25 Cardiff homes came on the market in August, up 47% over last month. 14 homes went pending as compared to 8 in July, up by 75%.
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 CARDIFF HOMES FOR SALE
READ MORE:
Cardiff Homes for Sale | Cardiff Real Estate Market Report for July 2011
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
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We've had similar stats....a bit down in numbers and higher sales prices....Well, buyers will call....seeing that you know your stuff!
Hi Jeff, Another great report but the stats are all telling. I think August through out is showing that the bulk of the potential buyers are still holding back from taking advantage of the low market interest rates. Sure hope September begins to show an increase in sales.
Jeff,
Cardiff sounds like an interesting market subject to wide swings in inventory, at least at the moment.
Wishing you continued success by the sea,
Steve