Solana Beach Homes for Sale
What Happened in the Solana Beach Real Estate Market in July 2014?
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.
As a buyer or seller in the Solana Beach real estate market, understanding recent trends and current market conditions is essential so you can make informed decisions about Solana Beach Homes for Sale; media reports focus on general market statistics and do not provide you with an accurate picture of the local Solana Beach housing market.
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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 at the time the report was published, but are not guaranteed.
In July 2014 there were 22 Solana Beach homes sold, 22% more than in June.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold |
22 (up 22%) |
10 (up 100%) |
12 (down 14%) |
|
Average $ |
$1,175,595 (up 2%) |
$1,587,560 (down 29%) |
$832,291 (up 8%) |
|
Days on Market |
42 |
35 |
48 |
|
Sale Price/List Price |
96% |
98% |
94% |
Sales volume in the Solana Beach housing market for July dropped for attached home sales but doubled for detached homes. Average sales prices shifted up modestly for attached homes but declined substantially for detached, in large part due to the sale of 3 of the 5 homes sold last month for over $2M that had raised the average. We are still seeing negotiation in prices, on average 2 - 6%, and 59% of the homes sold for cash.
The MEDIAN sales price of a detached home was $1,533,800 (down 33% from last month), and $754,250 (up 4%) for attached. Given the small number of sales one cannot draw any firm conclusions about pricing trends over a 1-month period.
At the end of July 2014 there were 59 homes for sale in Solana Beach, down by 2 (3%) from last month. There were no contingent listings (short sale or REO homes with offers being reviewed by lenders and considered active). This represents an inventory of 1.9 months for attached homes (down from 2.3 months last month) and 5.4 months for detached (down from 6.5 months in June) based on the current rate of sales over the last 6 months. Housing remains very competitive for buyers in Solana Beach, and favors sellers for attached homes but is becoming a more balanced market for detached homes.
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How Important is Inventory when Buying or Selling? Very!!
In July we saw fewer homes come into the Solana Beach real estate market, 23 (down 12%), compared to last months’ new listings; however the number of pending homes increased, with 21 pendings (up 31%).
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 July. More details can be provided if needed with regard to current activity as well.
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READ MORE:
Solana Beach Homes for Sale – What Happened in the Solana Beach Real Estate Market in June 2014?
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