What’s the Value of my Solana Beach Home?
Solana Beach Real Estate Market Report for April 2018
Understanding recent trends and current market conditions is essential so you can make informed decisions about buying or selling Solana Beach Homes for Sale.
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The following data are taken from the San Diego MLS for Solana Beach home listings and sales (private sales are not included, nor are multifamily properties or mobile/manufactured housing). The data are believed to be reliable at the time this report was published, but are not guaranteed.
In April 2018 there were 17 Solana Beach homes sold, the same as last month. Here are some other statistics.
TOTAL HOMES SOLD
17 (no change), 35 Days on Market, Ave. Sales Price $1,318,590 (up 2%), Ave. sale 98% of asking price,
Detached Homes Sold
9 (up 13%), 20 Days on Market, Ave. Sales Price $1,569,110 (down 3%), Ave. sale 99% of asking price
Attached Homes Sold
8 (down 11%), 56 Days on Market, Ave. Sales Price $1,036,756 (up 14%), Ave. sale 96% of asking price
Overall sales volume in the Solana Beach housing market for April did not shift from March, although 1 more detached home sold and 1 less attached home sold. Average sales prices increased for attached homes (condos, town homes) but decreased modestly for detached single family homes. Marketing time dropped for detached homes but increased for attached.
Buyers were able to negotiate their sales prices, on average 1 - 4%, however 35% of the homes sold at or above asking price. 35% of the homes sold for cash, compared to 12% last month.
The MEDIAN sales price of a detached home was $1,649,000 (up 11%), and $970,000 (up 3%) for attached. Given the number of sales, one cannot draw any firm conclusions about pricing trends over just a 1-month period.
At the end of April 2018 there were 42 homes for sale in Solana Beach, about the same as in March (up by 1) which is good news for buyers. There were no contingent listings (these are typically short sale or REO homes with offers being reviewed by lenders and considered active), versus 1 last month.
This represents an inventory of 2.8 months for attached homes (up from 2.6 months last month) and 2.4 months for detached (down from 3 months last month) based on the current rate of sales over the last 3 months. Housing remains competitive for buyers in Solana Beach, and is a very strong sellers’ market for detached and attached homes.
In April 29 new listings hit the Solana Beach real estate market, up 61% from March; similarly, the number of homes going pending (excluding homes that sold in April) increased, from 14 last month to 18 in April.
Please give me a call at (760) 840-1360 so we can discuss your housing needs and budget, and any questions you have about the market and how local market conditions affect your buying and selling needs and plans. Then we can create a strategy to help you buy or sell your Solana Beach home in 2018.