What’s my Solana Beach Home Worth?
What Happened in the Solana Beach Real Estate Market in July 2015?
Solana Beach is an affluent coastal town south of Encinitas and Cardiff, and one of the more expensive coastal communities in North San Diego County.
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 July 2015 there were 24 Solana Beach homes sold, up 50% from June.
|
TOTAL |
DETACHED |
ATTACHED |
# Sold |
24 (up 50%) |
9 (up 50%) |
15 (up 50%) |
Average $ |
$1,138,843 (down 10%) |
$1,707,000 (down 21%) |
$797,950 (up 11%) |
Days on Market |
40 |
56 |
31 |
Sale Price/List Price |
96% |
98% |
95% |
Sales volume in the Solana Beach housing market for July shifted up significantly across the board by 50%. Average sales prices decreased for detached homes (likely due to the sale of 1 home at $6M and 1 at $2.06M last month which had raised the average), but increased for attached homes. We are still seeing negotiation in prices, on average 2 - 5%; 29% of the homes sold for cash (compared to 44% as last month).
The MEDIAN sales price of a detached home was $1,770,00 (up 22% from last month), and $770,000 (no change) 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 2015 there were 49 homes for sale in Solana Beach, up by 40% from June, another increase. 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 2.3 months for attached homes (up from 1.4 last month) and 2.8 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 and detached homes.
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How Important is Inventory when Buying or Selling? Very!!
In July 30 homes came on the Solana Beach real estate market, 1 more than in June (up 3%); the number of pending homes, however, decreased, to 14 (down 22%).
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:
What’s my Solana Beach Home Worth? Solana Beach Market in June 2015
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