What’s the Value of my Solana Beach Home?
Solana Beach Real Estate Market Report for November 2020
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 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 November 2020 there were 14 Solana Beach homes sold, 26% fewer than last month, a trend seen in other communities. Here are the highlights:
Single Family Homes Sold
7 (down 30%); 18 Average Days on Market; Average Sales Price $2,503,285 (up 5%); Average Sales Price was 94% of original asking price
Condos, Townhomes and Duplexes Sold
7 (down by 2); 36 Average Days on Market; Average Sales Price $1,195,928 (up 26%); Average sales price was 95% of original asking price
Overall sales volume in the Solana Beach housing market for November dropped fairly significantly, with fewer single family homes sold and condo, townhome and duplex sales. The average sales price for single family homes rose, no doubt due, in part, to the sale of 4 homes over $2M; there was also an increase in the average sales price of condos and townhomes compared to last month.
The average marketing time for condos and townhomes was longer than in October, over 1 month.
Buyers were able to negotiate their sales prices down from original list price, on average by 4 - 5%. 3 Solana Beach buyers (21%) paid asking price or better for their new homes.
The median sales price of the condos, townhomes and duplexes in November was $950,000 (3% higher). The median price of the single family homes that sold was $1,775,000, down 3%.
At the end of November 2020 there were 40 homes for sale in Solana Beach, ranging in price from $609,900 to $18,995,000, 3 fewer listings than last month. Solana Beach has a housing inventory of only 2.2 months for condos and townhomes (up from 2 months last month) and 2 months for single family homes (down from 2.4 months last month) based on the current rate of sales over the last 3 months.
At this time the housing market strongly favors sellers of condos, townhomes and duplexes, as well as single family homes.
There were 2 Active Under Contract listings in November, compared to none over the last 7 months.
In November 16 new listings came on the Solana Beach real estate market, about half the number of new listings for last month. The number of homes going pending (excluding homes that sold in November) was about the same as in October, with 19 pendings compared to 20.
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.
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READ MORE:
What’s my Solana Beach Home Worth? Solana Beach Market in October 2020
