Located just north of Solana Beach and in the southern part of Encinitas, Cardiff By-The-Sea is easily within commuting distance to almost all of San Diego. While technically a part of the city of Encinitas, Cardiff is recognized by its own zip code (92007). Situated just west of Interstate 5, many of its residents live on hillsides with gorgeous ocean views. The city has a population of 11,019 people, with a median household income of $81,059 and is well known as one of the most charming seaside communities in the nation. Cardiff offers residents the small town atmosphere, with the convenience of a nearby big city.
Currently in Cardiff By-The-Sea there are 48 homes for sale. Being a very small, yet attractive city, the average listing price of these luxury beach homes with fantastic views is $1,427,954. From January through August of 2009 there were 525 homes listed, 103 of them being new listings. During the same period of this year there were slightly more homes listed totaling 553 active listings with 115 new homes coming on the market. Similar to many other areas of the United States, Cardiff has seen a tremendous effect on their real estate market over the past few years. In August 2009 there were only three homes sold in Cardiff with a median sales price of $749,000. This year, in August 2010, there were five homes sold in the area with a median sales price of $735,000. with more homes entering the market this year sellers have seen a slight drop in the home values, opening the market to buyers.
With mortgage rates at record lows, it is a great opportunity for potential homebuyers to save in the purchase of their new home, and homeowners to refinance. As of October 18th, 2010 in San Diego County a 15 year fixed mortgage rate is 3.936%, 30 year fixed is 4.429%, and a 40 year fixed is 4.614%. These rates have helped generate activity in the real estate market over the past three quarters this year, and are expected to stay low through the rest of the year. However, mortgage rates tend to fluctuate on a daily basis and depend on the qualification of each applicant. If you are thinking of buying or refinancing in Cardiff By-The-Sea, now would be a great time to look into it and take advantage of these rates.
Nick Alameddin
Real Estate Broker
C 760.802.4166
O 858.455.6700
F 858.455.0100
DRE License #01426515
Celebrating 18 years in the Real Estate Business, who do you know that wants to Sell, Short Sell or buy in the next 30 days?
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