Cardiff Home Sales & Future Trends
Cardiff Home Sales and Future Price Trends
Cardiff-by-the-Sea, or simply “Cardiff’ as it is known to locals, is a unique ocean oriented community located on sloping hills facing west which stands proudly above the Pacific Ocean. The San Elijo Lagoon, a nearby natural preserve, is home to diverse wildlife and birds. This natural zone divides Cardiff from Solana Beach to the south. Cardiff was originally a farming focused community in its early days, as was much of North County.This fantastic beach community is considered by many to be the best place to unwind and relax with its spectacular sweeping oceanfront vistas and views. That is a big reason why real estate property in Cardiff is getting so popular by the year.
Cardiff represents a bit of Old World Charm
The community of Cardiff was first established in the year 1875 with the McKinnon family settling down near the shores of San Elijo Lagoon. The town was officially named Cardiff-by-the-sea in the year 1914, which is derived from the original Cardiff city, which is the capital of Wales. This charming neighborhood has a rich cultural history, stemming from its UK based heritage. You can even find certain streets named after UK culture, some examples being Oxford, Westminster and Cambridge.
Living in Cardiff
People who pursue an active lifestyle will absolutely love the community of Cardiff. This is because the town offers activities such as surfing, cycling, running and even sunning, and you can often see droves of people running, cycling and walking around the beaches of Cardiff on a normal sunny day. There are also camping opportunities for nature enthusiasts, and this makes it a regular visiting spot for everyone who wants to live in a community with a free and vibrant spirit.
There are also lots of recreational activities that can be availed in the area, with a host of shopping centers, restaurants, and services on offer at the Cardiff Town Center. Then there is also the renowned Seaside Market of Cardiff with a phenomenal selection of the best produce. The place is also a popular spot amongst athletes who train in the city, and you can easily find lots of fitness and exercise centers in the town.
There are lots of fabulous neighborhoods in the town of Cardiff, which offer breath-taking views of the ocean. The homes in the area are mostly luxury homes, with the exception of a few condominiums thrown in the mix for good measure. There are lots of single family homes in the area, while the larger custom built homes, are located on the streets named Rubinstein, Brahms and Liszt. The houses on these streets boast mind-numbing views of the ocean and private canyons.
If you move towards the eastern side of the town, you will find the moderately priced homes, which contain condominium projects and the newer custom built homes. There is a shortage of vacant land in the area, while only a dozen new homes are constructed each year, which has pushed the price of real estate in the area considerably. Most people prefer to remodel their homes and push the prices even higher before selling, which is why it is so difficult to purchase a home in this town.
A Look at Real Estate in Cardiff
The price of real estate in Cardiff has simply ballooned over the past couple of years. The average square foot price of a home in Cardiff-by-the-sea is $595, which an astounding 31.1% increase compared to last year! The median price for home sales in the town has decreased in the meantime, and stands at $721,000 from 25 homes that were sold.
The sale price median has decreased by 11% over the past year, while the number of homes being sold in the area has gone up due to that. The estimated increase in home sales is 19% with the average price being listed for homes that are sold standing at $1,721,299, which is actually a 20% increase overall. Looking at the numbers over a period of 5 years, the average selling price of homes in the town have increased by 51%, which suggests the healthy position of the market.
Cardiff-by-the-sea is one of the hottest real estate markets in the United States currently, and the future price trends suggest that it is a competitive market with home prices increasing, and owners willing to put their homes for sale, so buyers are also involved. If you are looking for a stunning home with a beach view than you should consider purchasing real estate property in Cardiff today!