What’s my Solana Beach Home Worth?
What Happened in the Solana Beach Real Estate Market in April 2015?
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.
READ MORE about the Solana Beach Community:
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 April 2015 there were 20 Solana Beach homes sold, down 5% from March.
|
TOTAL |
DETACHED |
ATTACHED |
# Sold |
20 (down 5%) |
5 (down 67%) |
15 (up 150%) |
Average $ |
$1,194,775 (down 4%) |
$2,583,400 (up 76%) |
$731,900 (up 10%) |
Days on Market |
46 |
85 |
33 |
Sale Price/List Price |
95% |
91% |
97% |
Sales volume in the Solana Beach housing market for April shifted slightly with 1 less home selling as compared to March. Average sales prices rose dramatically for detached homes (likely due to the sale of 1 home at $6M and 1 at $4.075M which raised the average), but less dramatically for attached homes. We are still seeing negotiation in sales prices, on average 3 - 9%, with a few homes selling for over asking price, and 25% of the homes sold for cash (compared to 24% as last month).
The MEDIAN sales price of a detached home was $1,365,000 (up 6% from last month), and $785,000 (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 April 2015 there were 30 homes for sale in Solana Beach, down by 6% from March. There was 2 contingent listings (short sale or REO homes with offers being reviewed by lenders and considered active) that are included in the Active statistics. This represents an inventory of 1.4 months for attached homes (down from 1.7 last month) and 2.3 months for detached (the same as last month) based on the current rate of sales over the last 6 months. Housing remains very competitive for buyers in Solana Beach, and is a strong sellers’ market for attached homes,/townhomes and detached homes.
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How Important is Inventory when Buying or Selling? Very!!
In April 14 homes came on the Solana Beach real estate market, down 42% from March; the number of pending homes also decreased, to 13 (down 35%).
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 April. More details can be provided if needed with regard to current activity as well.
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READ MORE:
What’s my Solana Beach Home Worth? Solana Beach Market in March 2015?
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