What’s the Value of my Solana Beach Home?
Solana Beach Real Estate Market Report for January 2021
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 January 2021 there were 15 Solana Beach homes sold, 35% fewer sales than last month. Here are the highlights:
Single Family Homes Sold
5 (down 50%); 19 Average Days on Market; Average Sales Price $3,222,000 (up 54%); Average Sales Price was 100% of original asking price
Condos, Townhomes and Duplexes Sold
10 (down 23%); 44 Average Days on Market; Average Sales Price $1,087,167 (up 7%); Average sales price was 97% of original asking price
Overall sales volume in the Solana Beach housing market for January dropped significantly, and for single family homes and condo, townhome and duplex sales. The average sales price for single family homes rose substantially (no doubt due, in part, to all 5 sales being over $2M, with 1 at $6.4M, that raised the average), as did the average sales price of condos and townhomes compared to last month.
The average marketing time for single family homes was shorter than in December, dropping well below 1 month; days on market was longer for the condo, townhome and duplex sales than last month.
Buyers were able to negotiate their sales prices down from original list price, on average by 5%. Five Solana Beach buyers (33%) paid asking price or better for their new homes.
The median sales price of the condos, townhomes and duplexes in January was $1,019,339 (no change). The median price of the single family homes that sold was $2,660,000 (up by 49%).
At the end of January 2021 there were 21 homes for sale in Solana Beach, ranging in price from $619,000 to $18,995,000, 3 fewer than last month. Solana Beach has a housing inventory of only 1.1 months for condos and townhomes (down from 1.3 months last month) and 1.3 months for single family homes (up from 1.2 months last month) based on the current rate of sales over the last 3 months. Buyers can reasonably expect competition on many of the listed homes.
At this time the housing market is a very strong sellers’ market for condos, townhomes and duplexes, and for single family homes.
There were 3 Active Under Contract listings in January, the same as last month.
In January 14 new listings came on the Solana Beach real estate market, twice the number of new listings last month, and good news for buyers. The number of homes going pending (excluding homes that sold in January) also increased from December, with 15 pendings compared to 10.
Please give me a call at (760) 840-1360 so we can discuss your specific 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 I can help you create a strategy to buy or sell your Solana Beach home in 2021.
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READ MORE:
What’s my Solana Beach Home Worth? Solana Beach Market in December 2020
