What’s my Solana Beach Home Worth? Market Report for February 2019

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Real Estate Agent with Solutions Real Estate CA DRE #01490977

What’s the Value of my Solana Beach Home?

Solana Beach Home Sales for February 2019

 

Fletchers Cove in Solana BeachSolana Beach is an affluent coastal town south of Encinitas and Cardiff, and one of the more expensive coastal communities in North San Diego County.

 

Understanding recent trends and current market conditions is essential so buyers and sellers can make informed decisions about buying or selling Solana Beach Homes for Sale.

 

READ MORE about the Solana Beach Community:

Solana Beach Real Estate

 

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 February 2019 there were 12 Solana Beach homes sold, up 33% from last month, another increase. Here are the highlights:

 

Detached Homes Sold
5 (up 25%), 103 Days on Market, Ave. Sales Price $2,907,800 (up 89%), Ave. sale 91% of asking price

Attached Homes (condos, town homes, twin homes) Sold
7 (up 40%), 41 Days on Market, Ave. Sales Price $920,142 (up 24%), Ave. sale 98% of asking price

 

Overall sales volume in the Solana Beach housing market for February rose from January, for both detached and attached homes. Average sales prices increased fairly significantly for attached homes (condos, town homes), in part due to 2 homes selling for over $1.2M; we saw a more substantial increase in average price for detached single family homes, but this is no doubt due to 2 homes selling at over $3.85M which raised the average. Average marketing time rose for both detached and attached homes.

 

Buyers were able to negotiate their sales prices down from list price, on average 2 - 9%; however, buyers of 2 condos paid asking price. 33% of the homes sold for cash, compared to 11% last month.

 

The median sales price of a detached home was $2,715,000 (up 83%), and $750,000 (down 2%) 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 February 2019 there were 52 homes for sale in Solana Beach, an increase by 21% from last month, the second consecutive increase and good news for buyers. There was 1 contingent listing (these are typically short sale or REO homes with offers being reviewed by lenders and considered active although some may be first right of refusals), compared to none over the last 3 months.

 

This represents an inventory of 4.4 months for attached homes (up from 3.4 months last month) and 6.8 months for detached (up from 4.5 months last month) based on the current rate of sales over the last 3 months. Housing is a sellers’ market for attached home buyers, but has become a balanced market for detached single family home buyers, more good news for buyers interested in single family homes.

 

In February 28 new listings hit the Solana Beach real estate market, 17% more than came on the market in January, also good news for buyers; similarly the number of homes going pending (excluding homes that sold in February) increased modestly from 7 to 11 in February!

 

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 2019.

 

SEARCH FOR SOLANA BEACH HOMES FOR SALE

 

SEARCH FOR SOLANA BEACH CONDOS FOR SALE

 

READ MORE:

What’s my Solana Beach Home Worth? Solana Beach Market in January 2019

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Rainmaker
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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Jeff - certainly you have some high values in Solana Beach but moving to a balanced market will be good news for buyers.

Mar 09, 2019 04:31 AM #1
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. Like the child in the classroom with their hand in the air anxious to answer, call on me! The answer is call Jeff! Nuff said! Enjoy your day!

Mar 09, 2019 05:07 AM #2
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Agreed, Grant. It's been a market favoring sellers for quite a while.

Thank you kindly, Wayne!

Jeff

Apr 16, 2019 03:20 PM #3
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