What’s my Solana Beach Home Worth? Market Report for March 2020

By
Real Estate Agent with eXp Realty of California CA DRE #01490977

What’s the Value of my Solana Beach Home?

Solana Beach Home Sales for March 2020

 

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 March 2020 there were 17 Solana Beach homes sold, 2 more than last month (up 13%). Here are the highlights:

Detached Homes Sold
7 (no change), 58 Days on Market, Average Sales Price $2,055,357 (down 21%), Average sales price was 96% of original asking price

Attached Homes (condos, town homes, twin homes) Sold
10 (up 20%), 12 Days on Market, Average Sales Price $983,600 (down 18%), Average sales price was 100% of original asking price

 

Overall sales volume in the Solana Beach housing market for March shifted up modestly from February due to more attached homes being sold. The average sales price decreased significantly for detached homes – last month’s higher average was due to the sale of 2 homes for over $4M. Similarly, the average sale price of attached homes last month was substantially higher due to 5 of the 8 homes selling for over $1 million.

 

The average marketing time dropped modestly in March for detached homes, but significantly so for attached home sales.

 

Buyers were able to negotiate their sales prices down from original list price, on average 2 - 4%. 9 homes (53%) sold for asking price or higher, with 18% of the transactions selling for cash.

 

The median sales price of a detached home was $1,750,000 (down 12%), and $1,036,000 (down 6%) for attached. Given the small number of sales, one should not draw any firm conclusions about pricing trends over just a 1-month period.

 

At the end of March 2020 there were 47 homes for sale in Solana Beach (ranging in price from $488,000 to $6,950,000), an increase of 18% from February and good news for buyers. Solana Beach has a housing inventory of only 2.8 months for attached homes (up from 2.1 months last month) and 2.7 months for detached (up from 2.1 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.

 

Solana Beach townhomes

 

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 March 21 new listings came on the Solana Beach real estate market, 2 fewer than last month (23); the number of homes going pending (excluding homes that closed in March) was down substantially from February, with 8 pendings compared to 16 last month.

 

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.

 

NOTE: Be aware there are specific CDC recommendations in place to help keep everyone safe, and some new procedures as the result of the Stay-at-Home Order that impact home purchases and sales in our area. Much of the real estate transaction is now being done virtually. I am happy to share that information with you and answer any questions about what this means for buyers and sellers, and what to expect.

 

SEARCH FOR SOLANA BEACH DETACHED HOMES FOR SALE

 

SEARCH FOR SOLANA BEACH CONDOS FOR SALE

 

READ MORE:

What’s my Solana Beach Home Worth? Solana Beach Market in February 2020

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Rainmaker
1,734,278
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA, ABR, SRS

Appreciate you keeping us posted and up to date. Have a great week!

Apr 06, 2020 02:41 PM #1
Rainmaker
1,821,058
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

what a wonderful shout out to a wonderful community - makes me want to move to the west coast.  Very nice! 

Apr 06, 2020 03:21 PM #2
Rainmaker
2,722,530
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Solana Beach home buyers and sellers are sure to value your real estate market reports, Jeff.

Apr 08, 2020 04:24 PM #3
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