Solana Beach is an affluent coastal town south of Encinitas and Cardiff, and among the more expensive coastal communities. Despite changes in prices over the last several years Solana Beach has seen less dramatic changes in their real estate market than some other nearby towns.
READ MORE: Solana Beach Real Estate
As a buyer or seller in the Solana Beach real estate market, understanding recent trends and current market conditions is essential in order to make informed decisions; area media reports focus on general market conditions and therefore will not provide an accurate picture of the local housing market in Solana Beach.
The following data are taken from the San Diego MLS (private sales are not included in these statistics, nor are multifamily properties). The data are believed to be reliable but are not guaranteed.
In May 2009 there were 10 homes sold in Solana Beach, the same as in April. Here's the breakdown of overall activity.
|
|
TOTAL
|
DETACHED
|
ATTACHED
|
|
# Sold
|
10
|
7
|
3
|
|
Average $
|
$1,325,900
|
$1,617,857
|
$644,666
|
|
Days on Market
|
85
|
66
|
130
|
|
Sale Price/List Price
|
92%
|
89%
|
94%
|
NOTE: There is a new status that is important for buyers to know about. The MLS now tracks those properties that are CONTINGENT, i.e., ones that have accepted offers that are waiting short sale approval, or where offers are submitted to the ROE banks and awaiting approval. In the past these were lumped together in the ACTIVE category, becoming pending only once the offers were officially accepted by the banks. They are still considered active and will be included with the ACTIVE properties when tracking stats from month to month, but they do have a different status that impacts buyers who may want to submit offers (the offers would be considered back-ups).
At the end of May 2009 there were 135 Solana Beach homes for sale, about the same inventory as in April (when one includes the Contingency status homes). This represents an inventory of 9 months for attached homes (the same as in April) with a 20% decline to 19.4 months for detached homes, down from 24.3 months in April, based on the current rate of sales over the last 6 months. This is some good news, although the inventory is still a concern compared to current demand.
Despite that, we are behind the rate of sales in May for recent years; there were 15 homes sold in Solana Beach in 2008, 12 in 2007, 23 in 2006 and 19 in 2005. There have been 45 Solana Beach sales so far in 2009, which is 27% behind the rate of sales for 2008. The average price for all homes YTD in 2009 is $932,170, as compared to $1,085,022 for 2008. There were a number of more expensive homes (over $3 million) sold last year by this time.
In May 37 homes came on the market, a 24% decrease from April; 17 detached and 20 attached. At this time 9 homes went pending, 30% fewer than went pending in April.
More details can be provided if needed with regard to current real estate activity in Solana Beach.
READ MORE:
Solana Beach Real Estate - Solana Beach Market Report for April 2009
Solana Beach Real Estate - Solana Beach Market Report for March 2009
Solana Beach Real Estate - Solana Beach Market Report for February 2009
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If I can provide more information about Solana Beach, Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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Jeff
Solana beach looks like a page out of paradise. Great market report, and this looks like the place to live.