What’s the Value of my Solana Beach Home?
Homes for Sale in Solana Beach
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.
Understanding recent trends and current market conditions is essential so you can make informed decisions about buying or selling Solana Beach Homes for Sale.
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 2017 there were 24 Solana Beach homes sold, an increase by 26% from the number of sales in June.
TOTAL HOMES SOLD
24 (up 26%), 37 Days on Market, Ave. Sales Price $1,460,288 (up 30%), Ave. sale 95% of asking price,
Detached Homes Sold
13 (up 63%), 51 Days on Market, Ave. Sales Price $1,703,732 (up 15%), Ave. sale 93% of asking price
Attached Homes Sold
11 (no change), 21 Days on Market, Ave. Sales Price $1,172,581 (up 28%), Ave. sale 99% of asking price
Overall sales volume in the Solana Beach housing market for July increased substantially from June. Average sales prices increased for detached homes but especially so for attached (in part due to the same of 4 homes over $1.4M). We are still seeing negotiation in prices, on average 1 - 7%, however 21% of the homes sold for asking price or better. 42% of the homes sold for cash, compared to 32% last month.
The MEDIAN sales price of a detached home was $1,525,000 (up 12%), and $950,000 (up 12%) for attached. Given the number of sales, one should not draw any firm conclusions about pricing trends over just a 1-month period.
At the end of July 2017 there were 32 homes for sale in Solana Beach, a decrease of 9%, the 2nd decrease. There was 1 contingent listing (short sale or REO homes with offers being reviewed by lenders and considered active) the same as the last 4 months (but actually the same house). This represents an inventory of 1.1 months for attached homes (down from 1.3 months last month) and 2.2 months for detached (up from 1.1 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 very strong sellers’ market for both detached and attached homes.
In July 23 new listings hit the Solana Beach real estate market, about the same as in June (22); in contrast, the number of homes going pending decreased to 13 (down 28%) 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 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 2017
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