What’s the Value of My Cardiff-by-the-Sea Home?
Market Report June 2020
It’s important for buyers and sellers in the Cardiff real estate market to have accurate and current information about local market conditions in order to make informed decisions about Cardiff homes for sale.
Local market conditions will impact buying and selling in terms of inventory, pricing, competition, and time on market, and you should understand how these conditions can affect your buying and selling decisions. The pandemic is causing some market shifts as well!
Read More About Cardiff-by-the-Sea:
Here’s a summary of the Cardiff real estate market for June 2020 based on data provided by the MLS (private sales are not included; data are believed to be accurate as of this writing but are not guaranteed). There were 10 total sales in June, 1 more than in May.
Detached Homes Sold
7 (up 233%); Average of 12 Days on Market; Average Sales Price was $1,517,714 (up 6%); Average sale price was 98% of the original asking price.
Attached Homes (condos, town homes, twin homes) Sold
3 (down 50%); Average of 65 Days on Market, Average Sales Price was $679,833 (down 41%); Average sale price was 98% of original asking price.
The overall volume of sales in Cardiff shifted up slightly from last month, with the number of detached home sales more than doubling, but with only half as many attached homes sold. Average marketing time was relatively short for the detached homes, while 2 of the 3 attached homes took more than 2 months to sell.
At the end of June 2020 there was 1 home in the Cardiff housing market with a Contingent status, a first right of refusal (i.e., some Contingent listings are short sale and REO homes with accepted offers being reviewed by the lenders, but often when they occur they are first right of refusals).
At the end of June there were 42 Cardiff homes for sale, just 2 fewer than last month, but still more inventory than we have seen in a long time. These listings range in price from $869,000 to $6,950,000. There are 4.2 months of inventory for attached homes (down from 4.8 months last month), and 8 months for detached homes (down from 12 months last month), based on the rate of sales over the last 3 months.
The Cardiff market favors sellers for attached homes, and for the 3rd month is a buyers’ market for detached homes based on the recent low sales volume, something we have not seen for a long time.
25 Cardiff listings came on the market in June, compared to 23 in May...more good news for buyers! 13 homes went pending in June (not counting the homes that sold), compared to 9 in May, so it was a relatively busy month for buyers making decisions.
Data are based on information provided by the MLS. If you would like more details about the Cardiff real estate market, as well as for specific areas including the Walking District and the Composer District, I am happy to provide detailed market reports on these neighborhoods for you. I am also here 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, especially given the pandemic and the market shifts Cardiff is experiencing. Let's talk if you have any questions!
Keep in mind that average prices are significantly affected by the sale of high and/or low priced homes each month, especially when sales volume is low as it has been.
I invite you to 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 2020.
Please know there are specific recommendations still in place, and some new procedures as the result of the pandemic that impact home purchases and sales in our area; I am happy to share that information with you and answer any questions about what this means for buyers and sellers.
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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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