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Solana Beach Real Estate Market Report for December 2020
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.
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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 December 2020 there were 23 Solana Beach homes sold, 64% more sales than last month. Here are the highlights:
Single Family Homes Sold
10 (up by 3); 41 Average Days on Market; Average Sales Price $2,098,625 (down 14%); Average Sales Price was 93% of original asking price
Condos, Townhomes and Duplexes Sold
13 (up 86%); 37 Average Days on Market; Average Sales Price $1,019,982 (down 15%); Average sales price was 96% of original asking price
Overall sales volume in the Solana Beach housing market for December rose fairly significantly, with 3 more single family homes sold but almost twice as many condo, townhome and duplex sales. The average sales price for single family homes declined, as did the average sales price of condos and townhomes compared to last month.
The average marketing time for single family homes was longer than in November, well over 1 month; days on market was about the same for condos, townhomes and duplexes.
Buyers were able to negotiate their sales prices down from original list price, on average by 4 - 7%. 5 Solana Beach buyers (22%) paid asking price or better for their new homes.
The median sales price of the condos, townhomes and duplexes in December was $1,018,000 (7% higher). The median price of the single family homes that sold was $1,781,000 (no change).
At the end of December 2020 there were 24 homes for sale in Solana Beach, ranging in price from $575,000 to $18,995,000, a significant drop of 40% fewer listings than last month and a trend seen in other communities during this holiday month.
Solana Beach has a housing inventory of only 1.3 months for condos and townhomes (down from 2.2 months last month) and 1.2 months for single family homes (down from 2 months last month) based on the current rate of sales over the last 3 months.
At this time the housing market is a very strong sellers’ market for condos, townhomes and duplexes, as well as single family homes.
There were 3 Active Under Contract listings in December, compared to 2 last month.
In December only 7 new listings came on the Solana Beach real estate market, less than half the number of new listings for last month. The number of homes going pending (excluding homes that sold in December) was also less than in November, with 10 pendings compared to 19 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 2021.