Here are the summary market statistics from the MLS for Cardiff for February and March 2007.
The inventory is Cardiff remains somewhat limited, and the number of homes for sale in Cardiff has been fairly consistent, as is the rate of sales. There is less than a 4 month supply of attached homes, and less than a 6-month supply of attached homes. Prices tend to move up and down each month, which appears to be due to the small inventory, so that the median is affected dramatically by the homes sold that month.
Similarly, because of the number of sales, the average prices tend to change each month, sometimes up and sometimes down. On average, they are 13% higher for attached homes as compared to 1 year ago, but 10% lower for detached homes. Because of the flucutations one must be cautious in drawing firm conclusions on specific trends. For now, however, the Cardiff market, in my opinion, can be described overall as stable.
AS OF FEB. 28, 2007 | ATTACHED HOMES | DETACHED HOMES |
Active | 18 | 34 |
New in February | 7 | 10 |
Sold in Last 6 Months | 36 | 24 |
Sold/Pending In Last 6 months | 47 | 38 |
Absorption Rate (Solds) | 90 days | 211 days |
Absorption Rate (Solds Plus Pendings) | 69 days | 161 days |
Average Days on Market | 81 | 71 |
Median Price Change From 1 Year Ago | -8% | 47% |
Median Price | $450,000 | $1,100,000 |
% Chgn. In MDN from prior month | 0% | -9% |
Average Price | $651,250 | $1,177,000 |
AS OF MARCH 31, 2007 | ATTACHED HOMES | DETACHED HOMES |
Active | 20 | 30 |
New in March | 7 | 8 |
Sold in Last 6 Months | 36 | 33 |
Sold/Pending In Last 6 months | 44 | 40 |
Absorption Rate (Solds) | 100 days | 164 days |
Absorption Rate (Solds Plus Pendings) | 82 days | 135 days |
Average Days on Market | 68 | 56 |
Median Price Change From 1 Year Ago | -28% | 5% |
Median Price | $479,000 | $925,000 |
% Chgn. In MDN from prior month | 6% | -16% |
Average Price | $754,625 | $1,025,294 |
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great statistics your market seems to be in pretty good shape, good news for your market.
Jeff ~ your market seems to be in good shape. You never cease to amaze me at how much effort you put into your blogging. The home buyers and sellers must really love you!
kk