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Solana Beach Market Report for February 2021
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 February 2021 there were 14 Solana Beach homes sold, compared to 15 last month. Here are the highlights:
Single Family Homes Sold
7 (up by 40%); 35 Average Days on Market; Average Sales Price $4,158,000 (up 29%); Average Sales Price was 94% of original asking price
Condos, Townhomes and Duplexes Sold
7 (down 30%); 52 Average Days on Market; Average Sales Price $1,299,142 (up 19%); Average sales price was 95% of original asking price
Overall sales volume in the Solana Beach housing market for February dropped slightly with 1 fewer sale than last month. The average sales price for single family homes rose substantially (no doubt due, in part, to 4 sales over $4M, with 1 at $6.1M and 1 at $8.1M, 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, and for condo, townhomes and duplexes, was longer than in January.
Buyers were able to negotiate their sales prices down from original list price, on average by 5 - 6%. Two Solana Beach buyers paid over asking price for their new homes.
The median sales price of the condos, townhomes and duplexes in February was $1,140,000 (up by 12%). The median price of the single family homes that sold was $4,880,000 (up by 80%) clearly impacted by the sale of 4 homes over $4M.
At the end of February 2021 there were 25 homes for sale in Solana Beach, ranging in price from $635,000 to $18,995,000, 4 more than last month (up 19%). Solana Beach has a housing inventory of only 1.5 months for condos and townhomes (up from 1.1 months last month) and 1.4 months for single family homes (up from 1.3 months last month) based on the current rate of sales over the last 3 months.
The housing market remains a very strong sellers’ market for condos, townhomes and duplexes, and for single family homes.
There were 2 Active Under Contract listings in February, versus 3 last month.
In February 19 new listings came on the Solana Beach real estate market, 36% more new listings than last month, and some good news for buyers. The number of homes going pending (excluding homes that sold in February) decreased from January, with 9 pendings compared to 15 last month.
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.