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Solana Beach Home Sales for April 2022
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.
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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.
12 Solana Beach homes sold in April, 3 fewer than last month. Here are the details:
Single Family Homes Sold
7 (no change); 25 Average Days on Market; Average Sales Price $5,043,571 (up 13%); Average Sales Price was 106% of original asking price,
Condos, Townhomes and Duplexes Sold
5 (down by 3); 4 Average Days on Market; Average Sales Price $1,290,580 (down by 9%); Average sales price was 108% of original asking price
Overall sales volume in the Solana Beach housing market for April dropped, all due to a decline in condo, townhome and duplex sales. The average sales price was significantly higher for single family homes, no doubt affected by the sale of 2 homes selling for $8M and $15M; average sales price was modestly higher for condos and townhomes, compared to last month.
The average marketing time for single family homes was substantially longer, at 24 days, but shorter (only 4 days) for condos, townhomes and duplexes. Half of the homes sold in 1 week or less – a good number of buyers decided quickly about seeing properties and making offers.
While some buyers negotiated their sales prices down, 3 out of 4 buyers paid over the asking price for their homes.
Sales prices ranged from $825,000 to $15,000,000. The median sales price of the condos, townhomes and duplexes in April was $1,535,000 (up 22%). The median sales price of the single family homes was $3,200,000 (down 6%).
At the end of April 2022 there were 20 homes for sale in Solana Beach, up 25% from March, ranging in price from $765,000 to $15,500,000.
Solana Beach has an inventory of 1.4 months for condos, townhomes and duplexes (up from 1.1 months last month), and 1.7 months for single family homes (the same as last month) based on the rate of sales over the last 3 months.
Solana Beach continues to be a very strong seller’s market.
There were no Active Under Contract listings in April, the same as the last 5 months.
In April 20 new listings came on the Solana Beach real estate market, compared to 18 new listings last month. The number of homes going pending (excluding homes that sold in April) rose by 1 to 11.
Please feel free to reach out to me at (760) 840-1360 to talk about your personal 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 create a strategy to buy and/or sell your Solana Beach home.