Solana Beach Real Estate Market Report for October 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 October 2011 there were 12 Solana Beach homes sold, the same as in the last 2 months. Here’s the breakdown of overall activity.

Sales volume in the Solana Beach real estate market for October remained the same as last month. Average sales prices rose for detached single family homes, but declined for attached homes. Interestingly the average time needed to sell these homes remained well below 2 months, the lowest in the coastal area. Given the small number of sales, one cannot draw any firm conclusions about pricing trends.

At the end of October 2011 there were 118 Solana Beach homes for sale, just 1 less than at the end of September, another decline, making the Solana Beach market more competitive for buyers. Thirteen of these homes are “contingent” (short sale or REO homes with offers being reviewed by lenders and considered active). This represents an inventory of 8.3 months for attached homes (the same as last month) and 8.8 months for detached (down from 9.4 months in September) based on the current rate of sales over the last 6 months.

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

In October 20 homes came into the Solana Beach real estate market, the same as last month; 8 homes went pending in October 2011, in contrast to 13 last month, a decrease of 38%.

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.

SEARCH FOR SOLANA BEACH HOMES FOR SALE

READ MORE:

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

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

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

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

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

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