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Solana Beach Home Sales for August 2021
Buyers and sellers should understand recent trends and current market conditions in Solana Beach so they can make educated decisions about buying or selling Solana Beach Homes for Sale.
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The following data are taken from the MLS (private sales are not included, nor are multifamily properties or mobile or manufactured homes). The data are believed to be reliable at the time this report was published, but are not guaranteed.
In August 2021 there were 20 Solana Beach homes sold, compared to 24 last month. Here are the highlights:
Single Family Homes Sold
6 (down 50%); 11 Average Days on Market; Average Sales Price $3,240,000 (up 57%); Average Sales Price was 101% of original asking price
Condos, Townhomes and Duplexes Sold
14 (up by 2); 16 Average Days on Market; Average Sales Price $1,633,035 (up 21%); Average sales price was 97% of original asking price
Overall sales volume in the Solana Beach housing market for August dropped modestly, with half as many single family detached sales but 2 more condo, townhome and duplex sales. The average sales price for single family homes was significantly higher (in part due to 4 sales for over $2.5M that raised the average for the month); the average sales price of condos and townhomes was also higher than last month.
The average marketing time for single family homes and condos, townhomes and duplexes several days shorter than last month.
Some buyers were able to negotiate their sales prices down from original asking price. However, at the same time 35% of the Solana Beach buyers paid list price or higher for their homes.
The median sales price of the condos, townhomes and duplexes in August was $1,177,250 (down 4%). The median price of the single family homes that sold was $2,825,000 (up 57%).
At the end of August 2021 there were 20 homes for sale in Solana Beach, ranging in price from $970,000 to $19,750,000, with 33% fewer listings than last month. Solana Beach has a housing inventory of only 13 days for condos and townhomes (down from 28 days last month) and 1.6 months for single family homes (down from 1.8 months last month) based on the current rate of sales over the last 3 months.
The housing market continues to be very strong for sellers of condos, townhomes and duplexes, as well as for single family detached homes.
There was 1 Active Under Contract listing in August, compared to 2 last month.
In August 18 new listings came on the Solana Beach real estate market, 2 fewer new listings last month. The number of homes going pending (excluding homes that sold in August) increased slightly, with 19 pendings compared to 17 last month. Despite the shifts it was still a fairly busy month for sellers and buyers.
Please feel free to call me at (760) 840-1360 so we can discuss your specific housing needs and budget, and questions you have about the market and how local market conditions affect your buying and selling needs and plans. Then we can work together to create a strategy to buy or sell your Solana Beach home in 2021.