What’s the Value of my Solana Beach Home?
Solana Beach Home Sales for December 2019
Solana 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:
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 December 2019 there were 18 Solana Beach homes sold, double the number sold in November. Here are the highlights
Detached Homes Sold
8 (up 100%), 39 Days on Market, Average Sales Price $1,229,875 (down 65%), Average sale was 91% of original asking price
Attached Homes (condos, town homes, twin homes) Sold
10 (up 100%), 41 Days on Market, Average Sales Price $1,092,400 (down 2%), Average sale was 95% of original asking price
Overall sales volume in the Solana Beach housing market for December doubled over last month for both detached and attached homes - who says homes don’t sell well during the holidays!? The average sales price decreased significantly for detached homes, however this was clearly due to the sale last month of a home at $8,595,000 that had raised the average dramatically; the average price of an attached home also dropped also but only modestly. Average marketing time was modestly less for both detached homes and attached homes.
Buyers were able to negotiate their sales prices down from original list price, on average 5 - 9%. 3 home buyers paid full price or higher for their homes. 33% of the homes sold for cash.
The median sales price of a detached home was $1,150,000 (down 44%), and $1,005,000 (down 2%) for attached. Given the small number of sales, you should not draw any firm conclusions about pricing trends over just a 1-month period.
At the end of December 2019 there were 38 homes for sale in Solana Beach (ranging in price from $539,900 to $6,950,000), a 30% decline from last month (54), and a trend we saw in other communities. Solana Beach has a housing inventory of only 1.9 months for attached homes (down from 3 months last month) and 3.5 months for detached (down from 3.8 months last month) based on the current rate of sales over the last 3 months. At this time the housing market favors sellers for both attached and detached single family homes.
There were no contingent listings, the same as last month (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 due to offers that are contingent).
In December 15 new listings came on the Solana Beach real estate market, substantially fewer than last month (26), but not really a surprise given the holidays; similarly, the number of homes going pending (excluding homes that sold in December) decreased from 27 to 14, make it a much quieter month of real estate activity. I expect that will change.
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 2020.
SEARCH FOR SOLANA BEACH DETACHED HOMES FOR SALE
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READ MORE:
What’s my Solana Beach Home Worth? Solana Beach Market in November 2019
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