What’s the Value of my Solana Beach Home?
Solana Beach Home Sales for January 2022
It’s important for sellers and buyers to understand current market conditions in Solana Beach in order to 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 January 11 Solana Beach homes sold, 4 fewer (down 27%) than last month, a trend seen in other communities. Here are the details:
Single Family Homes Sold
6 (down by 2); 26 Average Days on Market; Average Sales Price $2,805,000 (up 7%); Average Sales Price was 101% of original asking price,
Condos, Townhomes and Duplexes Sold
5 (down by 2); 10 Average Days on Market; Average Sales Price $1,644,500 (up 14%); Average sales price was 105% of original asking price
Overall sales volume in the Solana Beach housing market for January declined, with fewer single family detached sales and fewer condo, townhome and duplex sales. The average sales price for single family homes was higher; the average sales price of condos and townhomes was also higher than last month.
The average marketing time for single family homes and for condos, townhomes and duplexes was shorter than last month. 55% of the homes sold in 1 week or less – a number of buyers obviously made quick decisions about touring homes and then making offers.
Several buyers negotiated their sales prices down from original list price, however 8 of the 11 buyers paid asking price or higher.
Sales prices ranged from $685,000 to $3,900,000. The median sales price of the condos, townhomes and duplexes in January was $1,462,500 (up about 1%). The median sales price of the single family homes was $2,602,500 (up 27%).
At the end of January 2022 there were only 12 homes for sale in Solana Beach, ranging in price from $1,100,000 to $16,999,000. But this was an increase from the 8 available listings last month!
Solana Beach has an inventory of 19 days for condos, townhomes and duplexes (compared to 6 days last month), and 27 days for single family homes (up from 25 days last month) based on the rate of sales over the last 3 months.
Solana Beach remains a very strong seller’s market.
There were no Active Under Contract listings in January, the same as the last 2 months.
In January 17 new listings came on the Solana Beach real estate market, almost 3 times the number of new listings as last month. The number of homes going pending (excluding homes that sold in January) rose, with 9 pendings compared to 7 last month.
Please feel free contact me at (760) 840-1360 so we can talk about your specific housing needs and budget, and questions you have about the housing market. We’ll also discuss how local market conditions can affect your buying and selling needs and plans. Then we can develop a plan to buy and/or sell your Solana Beach home.