There are too few sales in Cardiff By The Sea for accurate property value trend identification using only properties within Cardiff By The Sea. To develop the most probable trend, I have included all properties within an approximate 6.5 mile radius which stretches from the 56 Freeway to the south, Palomar Airport Rd to the north, the Pacific Ocean to the west, and Rancho Santa Fe to the east. Such a large radius is required because of the prevalence of custom homes and homes with highly desirable external value influences, such as views and proximity to the Pacific Ocean.
When comparing the most recent 6 month period with the same period last year, the median $/Sqft declined 0.9% which indicates an effectively stable property values trend.
Considering only properties within the city of Cardiff By The Sea, and based on the past 3 months sales, there are currently 4.5 months of housing inventory which indicates a balanced demand/supply trend.
Considering only properties within Cardiff By The Sea, the median marketing time over the past 3 months was 57 days which indicates a marketing time trend of less than 3 months.
17% of all sales over the past 3 months in Cardiff By The Sea were bank sales or short sales which is consistent with the annual rate of 16%. Real estate agents do not reliably describe bank/short sale listings in the local MLS and the actual ratios maybe higher.
Brian Ward
m. (760) 636-6777
o. (619) 630-9273
www.brianward.com
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o. (619) 630-9273
www.brianward.com
Please Consider 'Liking' Brian Ward Appraisal on Facebook
