Cardiff Real Estate Market Report for October 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 October 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 |
8 (down 50%) |
4 (down 56%) |
4 (down 43%) |
|
Average $ |
$580,187 (down 9%) |
$748,125 (no change) |
$412,250 (down 16%) |
|
DOM |
91 |
102 |
81 |
|
Sale $/List $ Ratio |
95% |
94% |
96% |
The number of homes sold in Cardiff in October was half the number sold in September. Average sales prices declined fairly substantially for attached homes but remained unchanged for single family detached homes. 38% of the home sold were short sales in October. 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 October 2011 there were 7 homes in the Cardiff real estate market with a Contingent status, 1 more 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 October 2011 there were 53 Cardiff homes for sale, 13% fewer than last month, the second month of inventory decline, thus the inventory has become more competitive in the Cardiff real estate market. This represents an inventory of only 4.3 months for attached homes (up from 3.6 months last month) and 4.2 months for detached homes (down from 5.2 months in September).
12 Cardiff homes came on the market in October, 50% more than new listings in September. 9 homes went pending in October as compared to 8 in September.
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 CALIFORNIA
READ MORE:
Cardiff Homes for Sale | Cardiff Real Estate Market Report for September 2011
Cardiff Homes for Sale | Cardiff Real Estate Market Report for August 2011
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
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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search 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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WOW Jeff, That is a surprising report. And November ? where did it go, :-)
I also wanted to stop over and wish you and your entire family a wonderful and Happy Thanksgiving Jeff!