Solana Beach Homes for Sale - What Happened in the Solana Beach Real Estate Market in January 2012?

Solana Beach is an affluent coastal town south of Encinitas and Cardiff, and one of the more expensive coastal communities in the North San Diego County area.

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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; media reports focus on general market statistics and therefore will not provide you with an accurate picture of the Solana Beach real estate market conditions.

The following data are taken from the San Diego MLS for Solana Beach real estate (private sales are not included in these statistics, nor are multifamily properties or mobile/manufactured housing). The data are believed to be reliable but are not guaranteed.

In January 2012 there were 15 Solana Beach homes sold, a 25% increase over last month. Here’s the breakdown of overall activity.

Sales volume in the Solana Beach real estate market for January rose for attached homes but remained the same for detached. In contrast average sale prices declined across the board. We are still seeing negotiation in prices, on average from 4 – 5%. Given the small number of sales, one cannot draw any firm conclusions about pricing trends.

At the end of January 2012 there were 94 Solana Beach homes for sale, down 5% from December’s inventory, another decline, making the Solana Beach market more competitive for buyers. 15 of these homes are “contingent” (short sale or REO homes with offers being reviewed by lenders and considered active). This represents an inventory of 9.3 months for attached homes (down from 9.8 months last month) and 5.5 months for detached (down from 6 months in December) based on the current rate of sales over the last 6 months, resulting in a further tightening of the Solana Beach real estate market for buyers.

READ MORE:   How Important is Inventory when Buying or Selling? Very!!

In January 18 homes came into the Solana Beach real estate market, 2 more than last month; 15 homes went pending in January 2012, in contrast to 13 last month.

This overview of the Solana Beach real estate market is based on information provided by the MLS for homes that went under contract in the last couple of months and closed in January. More details can be provided if needed with regard to current activity as well.

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