What’s the Value of my Solana Beach Home?
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 December 2016 there were 12 Solana Beach homes sold, the same as last month.
TOTAL HOMES SOLD
12 (no change), 40 Days on Market, Ave. Sales Price $1,963,708 (up 23%), Ave. sale 94% of asking price,
Detached Homes Sold
7 (up 17%), 57 Days on Market, Ave. Sales Price $2,795,000 (up 30%), Ave. sale 94% of asking price
Attached Homes Sold,
5 (down 17%),18 Days on Market, Ave. Sales Price $799,900 (down 24%), Ave. sale 94% of asking price
Sales volume in the Solana Beach housing market for December remained the same s in November, but with 1 more single family detached home for sale and 1 less attached. Average sales prices rose substantially for detached, in large part due to the sale of 4 home selling for over $4M, 1 of them at $5.75M, that raised the average. The average price of attached homes declined. We are still seeing negotiation in prices, on average 6% and all homes sold for under the asking price. 33% of the homes sold for cash, the same as last month.
The MEDIAN sales price of a detached home was $3,050,000 (up 94% from last month but due to 1/3 of the homes selling at over $4M), and $492,500 (down 33%) for attached. Given the relatively small number of sales, one should not draw any firm conclusions about pricing trends over a 1-month period.
At the end of December 2016 there were only 26 homes for sale in Solana Beach, down 24% from last month, another decline. There were no contingent listings (short sale or REO homes with offers being reviewed by lenders and considered active) as of the end of the month as in November. This represents an inventory of only 1.5 months for attached homes (up from 1.4 months last month) and 2.1 months for detached (down from 3 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 both detached and attached homes, but especially for the latter.
In December 11 homes came on the Solana Beach real estate market, down 31% from last month; the number of homes going pending also decreased to 8, down 47% from last month.
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 December. More details can be provided if needed with regard to current activity as well.