What’s my Solana Beach Home Worth?
What Happened in the Solana Beach Real Estate Market in June 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.
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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 June 2015 there were 16 Solana Beach homes sold, down 20% from May.
|
TOTAL |
DETACHED |
ATTACHED |
# Sold |
16 (up 7%) |
6 (up 20%) |
10 (no change) |
Average $ |
$1,260,888 (up 18%) |
$2,164,666 (up 22%) |
$718,621 (up 1%) |
Days on Market |
47 |
37 |
52 |
Sale Price/List Price |
94% |
93% |
96% |
Sales volume in the Solana Beach housing market for June shifted up slightly for detached homes but with the same number of attached home sales as last month. Average sales prices increased significantly for detached homes, likely due to the sale of 1 home at $6M and 1 at $2.06M which raised the average, and increased slightly for attached homes. We are still seeing negotiation in prices, on average 4 - 7%; 44% of the homes sold for cash (compared to 27% as last month).
The MEDIAN sales price of a detached home was $1,445,500 (down 17% from last month), and $766,500 (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 June 2015 there were 35 homes for sale in Solana Beach, down by 30% from May. There was 1 contingent listings (short sale or REO homes with offers being reviewed by lenders and considered active) that is included in the Active statistics. This represents an inventory of 1.4months for attached homes (up from 1.2 last month) and 2.8 months for detached (up from 2.1 months 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 and detached homes.
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How Important is Inventory when Buying or Selling? Very!!
In June 29 homes came on the Solana Beach real estate market, up 107% from May; the number of pending homes, however, decreased, to 18 (down 10%).
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 June. 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 May 2015
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