What’s the Value of my Solana Beach Home?
Solana Beach Real Estate Market Report for June 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 June 2018 there were 14 Solana Beach homes sold, down 26% from last month. Here are the highlights:
TOTAL HOMES SOLD
14 (down 26%), 18 Days on Market, Ave. Sales Price $1,561,964 (up 27%), Ave. sale 97% of asking price,
Detached Homes Sold
5 (down 29%), 15 Days on Market, Ave. Sales Price $2,140,300 (up 30%), Ave. sale 99% of asking price
Attached Homes (condos, town homes) Sold
9 (down 25%), 20 Days on Market, Ave. Sales Price $1,240,666 (up 26%), Ave. sale 96% of asking price
Sales volume in the Solana Beach housing market for June dropped from May for both detached and attached home sales. Average sales prices increased for attached homes (condos, town homes) as well as for detached single family homes. Average marketing time declined significantly for detached homes and for attached homes.
Buyers were able to negotiate their sales prices, on average 1 - 4%, with 1 home selling at list price and 1 above asking price. 35% of the homes sold for cash, compared to 26% last month.
The MEDIAN sales price of a detached home was $2,137,500 (up 12%), and $917,000 (down 5%) for attached. Given the number of sales, one should not draw any firm conclusions about pricing trends over just a 1-month period.
At the end of June 2018 there were 43 homes for sale in Solana Beach, 1 more than in May. There was 1 contingent listing (these are typically short sale or REO homes with offers being reviewed by lenders and considered active), versus 2 last month.
This represents an inventory of 2.3 months for attached homes (down from 2.8 months last month) and 2.4 months for detached (the same as 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 home buyers.
In June 23 new listings hit the Solana Beach real estate market, down 11% from May; similarly, the number of homes going pending (excluding homes that sold in June) decreased, from 18 last month to 14 in June.
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.