Market Data for JANUARY 2007 - Cardiff, CA

Here are the summary statistics from the MLS for Cardiff-by-the-Sea for January 2007.

There are a few changes from the previous month that are worth noting, however keep in mind that we are looking at a small sample of data over 31 days, so you cannot derive a reliable trend. It is best to watch the trends over a multi-month period to gain a better idea of what the market is actually doing.

The inventory in Cardiff was smaller than it was in December (where it had also dropped from November 2006). We see that the absorption rate is well below 6 months for attached homes and about 6 months for detached. Prices have remained fairly stable over the long term, especially for attached homes which rose 4% over the median of 1 year ago, although in January the median price for detached homes dropped (however there were a small number of sales so large fluctuations are not surprising).

If you have any questions or would like further information or clarification, please let me know.