What’s the Value of My Cardiff-by-the-Sea Home?
Home Sales for September 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 and/or sale.
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Here is a summary of the Cardiff real estate market for September 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 8 homes sold during September, down 27% from last month.
Detached Homes Sold
5 (down 29%); Average of 38 Days on Market, Average Sales Price $1,086,000 (down 41%); Average sale was 91% of original asking price
Attached Homes (condos, town homes, twin homes) Sold
3 (down 25%); 43 Days on Market, Sales Price $1,306,666 (up 38%); Sale was 100% of original asking price
The overall volume of sales in Cardiff was down from last month, with a drop in both detached home sales and attached sales. 25% of the transactions in September were for cash, compared to 18% last month. The average sales price for detached homes dropped significantly, no doubt due to the high average last month due to the sale of 5 homes over $1.3M (including 1 at $3.25M and 1 at $2.998M); the average attached home sales price was higher in September.
Home buyers negotiated up to 9% off the original asking price, on average; 1 attached home buyer paid well over asking price. The average time on market decreased from last month for the detached single family homes but rose for the attached home sales.
At the end of September 2019 there was 1 home in the Cardiff housing market with a Contingent status, a short sale, compared to none for the last 2 months (i.e., some Contingent listings are short sale and REO homes that have accepted offers being reviewed by the lenders, but these days when they occur most tend to be first right of refusals where offers have been accepted that are contingent on the sale of a buyer’s home).
As of the end of September 2019 there were 38 Cardiff homes for sale, 14% fewer than in August; homes range in price from $615,000 to $4,695,000. This represents an inventory of 3.8 months for attached homes (up from 2.6 months last month), and 3.8 months for detached homes (up from 3.7 months last month) based on the rate of sales over the last 3 months. The Cardiff market remains a seller’s market overall.
10 Cardiff listings came on the market in September, a little more than half the number of new listings in August. 9 homes went pending in September (not counting those that sold), 23% fewer than last month.
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 relatively 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 significantly affected by the sale of high and/or low priced homes each month, especially when sales volume is low.
Please reach out to me at (760) 840-1360 so we can discuss your housing needs, lifestyle, and budget, answer all of your questions, and create a strategy to help you buy and/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, 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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