Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for January 2011

By
Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

Solana Beach Real Estate Market Report for January 2011

 Solana Beach Homes for Sale - Market Report for January 2011

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. 

READ MORE: Solana Beach Real Estate 

As a buyer or seller in the Solana Beach real estate market, understanding recent trends and current market conditions is essential in order to make informed decisions; media reports focus on general market statistics and therefore will not provide you with an accurate picture of the Solana Beach real estate market conditions. 

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 but are not guaranteed. 

In January 2011 there were 6 Solana Beach homes sold, down 45% (5 fewer) than last month, a trend that is the opposite of what we have seen in some other communities. Here's the breakdown of overall activity.

 

  

TOTAL

DETACHED

ATTACHED

# Sold

6 (down 45%)

4 (down 50%)

2 (down 33%)

Average $

$894,251 (down 15%)

$1,056,377 (down 10%)

$570,000 (down 21%)

Days on Market

64

83

27

Sale Price/List Price

96%

95%

95%

 

Sales volume declined fairly significantly with average sales prices declining as well. The Days on Market also dropped significantly. The sales numbers are still pretty small so it is not wise to try and draw any firm conclusions about price trends. 

At the end of January 2011 there were 94 Solana Beach homes for sale, just 3 fewer than at the end of December. Nine of these homes are "contingent" (short sale or REO homes with offers being reviewed by lenders and so technically still active). This represents an inventory of 12.8 months for attached homes (up from 11.8 months) and 6.8 months for detached (up from 6.2 months in December) based on the current rate of sales over the last 6 months.

READ MORE:   How Important is Inventory when Buying or Selling? Very!!

In contrast, in December 23 homes came into the Solana Beach real estate market, almost 4 times the number being listed in December; 9 homes went pending in January 2011, just 2 less than in December. 

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. 

READ MORE:

Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for December 2010  

Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for November 2010  

Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for October 2010  

Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for September 2010  

Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for August 2010  

Solana Beach Homes for Sale - Solana Beach Real Estate Market Report for July 2010

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Ambassador
1,544,210
William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

WOW Jeff, Solona Beach looks like it is having some market correction. It does tend to run in cycles and suspect it will be right back up on top in the next report or two.

Feb 07, 2011 03:17 PM #1
Rainmaker
1,082,380
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Jeff, this is so important for consumers to remember when they read or hear the news from the local media -

"media reports focus on general market statistics and therefore will not provide you with an accurate picture of the Solana Beach real estate market conditions"

Feb 07, 2011 03:17 PM #2
Rainmaker
497,757
Steve Scheer
Realty Oasis - Metro Brokers - Highlands Ranch, CO
Highlands Ranch Real Estate - Denver Real Estate

Fabulous photo on the market report Jeff. So important for people to see the trends and understand them.

Feb 07, 2011 04:29 PM #3
Rainmaker
262,298
Mara Hawks
First Realty Auburn - Auburn, AL
Inactive-2012 REALTOR - Homes for Sale Auburn Real Estate, AL

Wonderful presentation, Jeff. I like the website you have, and the logo! (from clicking on the beautiful photo). This is a breath of fresh coastal air!

Feb 07, 2011 10:10 PM #4
Rainmaker
1,825,385
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond
Great connectors on this market report Jeff to your other noted blog posts & new web site! I enjoy just feeling the sun that comes thru!
Feb 07, 2011 10:58 PM #5
Rainmaker
1,100,858
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Another great job presenting what is going on in the Solana Beach market. Thanks for the B-day wishes as well Jeff!

Feb 08, 2011 12:03 AM #6
Rainmaker
199,859
Brian Kuhns
Coldwell Banker Roth Wehrly Graber - Fort Wayne, IN
Fort Wayne Real Estate by Brian Kuhns

Great information....I like how you've linked previous posts and articles to the report. You've always got great information, you've motivated me to put together a buyers handbook so I may be thanking you or cursing you later lol

Feb 08, 2011 12:13 AM #7
Rainmaker
423,076
Nevin Williams
Fairway Independent Mortgage Corporation - Cary, NC
Senior Mortgage Advisor

Jeff - I wish I lived in Solana Beach!  Great market report- as usual!

Feb 08, 2011 01:45 AM #8
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Jeff Dowler, CRS

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