What’s the Value of my Solana Beach Home?
Solana Beach Market Report for February 2022
Solana Beach is an affluent beach town that is south of Encinitas and Cardiff by the Sea. And it’s one of the more expensive coastal communities in North San Diego County.
It’s important for sellers and buyers to understand current market conditions in Solana Beach in order to 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 (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 February 9 Solana Beach homes sold, 2 fewer than last month, a contrasting trend to that seen in other communities where sales increased in February. Here are the details:
Single Family Homes Sold
5 (down by 1); 4 Average Days on Market; Average Sales Price $2,615,000 (down 5%); Average Sales Price was 101% of original asking price,
Condos, Townhomes and Duplexes Sold
4 (down by 1); 4 Average Days on Market; Average Sales Price $1,347,472 (down 18%); Average sales price was 103% of original asking price
Overall sales volume in the Solana Beach housing market for February declined again, with fewer single family detached sales and fewer condo, townhome and duplex sales. The average sales price for single family homes and for condos and townhomes, was also lower than last month.
The average marketing time for single family homes and for condos, townhomes and duplexes was significantly shorter than last month. 78% of the homes sold in 1 week or less – a number of buyers clearly made quick decisions about touring properties and making offers, something to keep in mind if you plan to buy.
A couple of buyers negotiated their sales prices down from original list price, but 7 of the 9 buyers paid asking price or higher.
Sales prices ranged from $786,000 to $3,800,000. The median sales price of the condos, townhomes and duplexes in February 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 February 2022 there were only 12 homes for sale in Solana Beach, the same as in January, ranging in price from $1,100,000 to $16,999,000.
Solana Beach has an inventory of 26 days for condos, townhomes and duplexes (compared to 19 days last month), and 1.1 months for single family homes (up from 27 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 February at the time of this report, the same as the last 3 months.
In February 12 new listings came on the Solana Beach real estate market, compared to 17 new listings last month. The number of homes going pending (excluding homes that sold in February) rose slightly to 11, compared to 9 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.
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READ MORE:
What’s my Solana Beach Home Worth? Solana Beach Market in January 2022
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