Solana Beach Homes for Sale - What Happened in the Solana Beach Real Estate Market in March 2012?

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 2012 there were 20 Solana Beach homes sold, an increase of over 40% from last month (14 sold).

Sales volume in the Solana Beach real estate market for March rose significantly, especially for attached. Average sale prices for both detached and attached – 20% of these transactions were cash. We are still seeing negotiation in prices, on average from 4 - 6%. Given the small number of sales, one cannot draw any firm conclusions about pricing trends.

At the end of March 2012 there were 83 Solana Beach homes for sale, down 9% from February’s inventory, another decline, making the Solana Beach market more competitive for buyers. 16 of these homes are “contingent” (short sale or REO homes with offers being reviewed by lenders and considered active). This represents an inventory of 7.2 months for attached homes (down from 9.7 months last month) and 4.4 months for detached (down from 4.7 months in February) based on the current rate of sales over the last 6 months, good news for sellers.

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

What Impact will the Shadow Inventory Have on the Housing Market?

In March 22 homes came into the Solana Beach real estate market, 2 fewer than last month; 21 homes went pending in March 2012, 40% more 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 March. More details can be provided if needed with regard to current activity as well.

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