What’s the Value of my Solana Beach Home?
Solana Beach Home Sales for May 2022
Solana Beach is an affluent coastal town just south of Encinitas and Cardiff by the Sea. 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.
17 Solana Beach homes sold in May, 5 more than in April. Here are the details:
Single Family Homes Sold
11 (up by 4); 23 Average Days on Market; Average Sales Price $2,951,160 (down 41%); Average Sales Price was 105% of original asking price,
Condos, Townhomes and Duplexes Sold
6 (up by 1); 6 Average Days on Market; Average Sales Price $1,530,250 (up 19%); Average sales price was 104% of original asking price
Overall sales volume in the Solana Beach housing market for May increased, and for single family homes as well as condo, townhome and duplex sales. The average sales price was significantly lower for single family homes, no doubt due to the sale of 2 homes at $8M and $15M last month that raised that average substantially; the average sales price was higher for condos and townhomes compared to April.
The average marketing time for single family homes was 1 day shorter, and 2 days longer for condos, townhomes and duplexes. Almost half of the homes (47%) sold in 1 week or less – plenty of buyers decided quickly about seeing properties and making offers.
While some buyers negotiated their sales prices down, about half (53%) of the buyers paid more than asking price for their homes.
Sales prices ranged from $975,000 to $5,025,000. The median sales price of the condos, townhomes and duplexes in May was $1,397,500 (down 9%). The median sales price of the single family homes was $2,700,000 (down 16%).
At the end of May 2022 there were 17 homes for sale in Solana Beach, 3 fewer than at the end of April, ranging in price from $675,000 to $14,995,000.
Solana Beach has an inventory of just 23 days for condos, townhomes and duplexes (down from 1.4 months last month), and 1.3 months for single family homes (down from 1.7 months last month), based on the rate of sales over the last 3 months.
Solana Beach remains a very strong seller’s market.
There was 1 Active Under Contract listing in May versus none in April.
In May 18 new listings hit the Solana Beach real estate market, compared to 20 new listings last month. The number of homes going pending (excluding homes that sold in May) rose by 1 to 12.
Please feel free to reach out to me at (760) 840-1360 so we can 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.
SEARCH FOR SOLANA BEACH HOMES FOR SALE
READ MORE:
What’s my Solana Beach Home Worth? Solana Beach Market in April 2022
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