What’s the Value of my Solana Beach Home?
Solana Beach Housing Market Report for March 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 essential that sellers and buyers 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 March 15 Solana Beach homes sold, 6 more (67%) more than last month. Here are the details:
Single Family Homes Sold
7 (up by 2); 5 Average Days on Market; Average Sales Price $4,450,000 (up by 70%); Average Sales Price was 103% of original asking price,
Condos, Townhomes and Duplexes Sold
8 (up by 100%); 13 Average Days on Market; Average Sales Price $1,422,078 (up 6%); Average sales price was 102% of original asking price
Overall sales volume in the Solana Beach housing market for March rose fairly significantly, especially for condo, townhome and duplex sales. The average sales price was significantly higher for single family homes, no doubt due to the sale of 4 homes selling for over $3M each; average sales price was modestly higher for condos and townhomes, compared to last month.
The average marketing time for single family homes and for condos, townhomes and duplexes was longer than last month. 67% of the homes sold in 1 week or less – plenty of buyers made quick decisions about touring properties and making offers.
Some buyers were able to negotiate their sales prices down from original list price, while 9 of the 15 buyers paid asking price or higher.
Sales prices ranged from $924,000 to $9,425,000. The median sales price of the condos, townhomes and duplexes in March was $1,256,000 (down 16%). The median sales price of the single family homes was $3,400,000 (up 31%).
At the end of March 2022 there were 16 homes for sale in Solana Beach, up 33% from February, ranging in price from $1,300,000 to $16,999,000.
Solana Beach has an inventory of 1.1 months for condos, townhomes and duplexes (compared to 26 days last month), and 1.7 months for single family homes (up from 1.1 months 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 March when this report was written, the same as the last 4 months.
In March 18 new listings came on the Solana Beach real estate market, compared to 12 new listings last month, a bit of good news. The number of homes going pending (excluding homes that sold in March) dropped by 1 to 10.
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 February 2022
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