Solana Beach Real Estate Market Report for March 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.
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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 March 2011 there were 17Solana Beach homes sold, more than double the number of sales in February. Here's the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold
|
17 (up 125%) |
4 (no change) |
13 (up 225%) |
|
Average $
|
$744,352 (down 13%) |
$1,382,500 (up 30%) |
$548,000 (down 14%) |
|
Days on Market
|
102 |
108 |
100 |
|
Sale Price/List Price
|
94% |
90% |
95% |
Sales volume rose substantially over February, with average sales prices increasing for detached. The sales numbers are still relatively small so one cannot draw any firm conclusions about price trends.
At the end of March 2011 there were 117 Solana Beach homes for sale, 21% more than at the end of February. Three 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 13.2 months for attached homes (down from 15.1 months) and 8.9 months for detached (up from 7.6 months in February) based on the current rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In March 42 homes came into the Solana Beach real estate market, an increase of 56% over February and the 3rd month in increased inventory; 10 homes went pending in March 2011, 3 fewer than 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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