What’s my Solana Beach Home Worth?
What Happened in the Solana Beach Real Estate Market in October 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.
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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 October 2015 there were 17 Solana Beach homes sold, a very significant bump up by 89% from September.
TOTAL HOMES SOLD
17 (up 89%), 29 Days on Market, Ave. Sales Price $931,735 (down 12%), Ave. sale 96% of asking price
Detached Homes Sold
3 (down 50%), 7 Days on Market, Ave. Sales Price $1,316,666 (up 4%), Ave. sale 99% of asking price
Attached Homes Sold,
14 (up 367%), 34 Days on Market, Ave. Sales Price $849,250 (up 31%), Ave. sale 96% of asking price
Sales volume in the Solana Beach housing market for October shifted up significantly across the board, but this was due to a tripling of attached home sales versus a drop in detached sales. Average sales prices rose for detached homes and especially for attached homes. We are still seeing negotiation in prices, on average 1 - 4%. 35% of the homes sold for cash (compared to 22% as last month).
The MEDIAN sales price of a detached home was $1,100,000 (down 8% from last month), and $845,000 (up 49%) for attached. Given the relatively small number of sales one cannot draw any firm conclusions about pricing trends over a 1-month period.
At the end of October 2015 there were 54 homes for sale in Solana Beach, 3 more than last month (up 6%). There were 0 contingent listings (short sale or REO homes with offers being reviewed by lenders and considered active). This represents an inventory of 2.3 months for attached homes (down from 2.5 last month) and 4.8 months for detached (up from 3.7 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, and a seller’s market for detached homes.
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How Important is Inventory when Buying or Selling? Very!!
In October 26 homes came on the Solana Beach real estate market, 3 more than in September (up 13%); the number of pending homes also increased, to 14 (up 17%).
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 October. More details can be provided if needed with regard to current activity as well.
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What’s my Solana Beach Home Worth? Solana Beach Market in September 2015
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