What’s the Value of my Solana Beach Home?
Solana Beach Home Sales for August 2022
Solana Beach is an affluent beach town just south of Cardiff by the Sea and Encinitas. 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 so they can make educated 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.
12 Solana Beach homes sold in August, 3 more than last month. Here are the specifics:
Single Family Homes Sold
6 (up by 3); 14 Average Days on Market; Average Sales Price $2,717,833 (up 10%); Average Sales Price was 98% of original asking price,
Condos, Townhomes and Duplexes Sold
6 (no change); 41 Average Days on Market; Average Sales Price $1,000,000 (down 25%); Average sales price was 92% of original asking price
Overall sales volume for the Solana Beach housing market rose for August, with 3 more condo, townhome and duplex sales but the same number of single family homes were sold. The average sales price was higher for single family homes but substantially lower for condos, townhomes and duplexes compared to last month.
The average marketing time for single family homes was 1 day longer at 2 weeks, but was significantly longer for condos, townhomes and duplexes. 42% of the homes sold in 1 week or less. It’s clear the plenty of buyers decided fairly quickly about touring homes and making successful offers.
The majority of the buyers negotiated their sales prices down, but 1 paid asking price and 2 paid more than the list price for their homes.
Sales prices ranged from $575,000 to $4,150,000. The median sales price of the condos, townhomes and duplexes in August was $905,000 (down 27%). The median sales price for the single family homes was $2,542,500 (up 8%).
At the end of August 2022 there were 32 homes for sale in Solana Beach, 3 more than at the end of July and another increase. Homes range in price from $619,000 to $13,995,000.
Solana Beach has an inventory of 2.6 months for condos, townhomes and duplexes (up from 1.7 months last month), and 3.2 months for single family homes (up 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 for condos, townhomes and duplexes, and is a strong seller’s market for single family homes.
There were no Under Contract listings in August.
In August 17 new listings came on the Solana Beach real estate market, 2 more than last month. The number of homes going pending (excluding homes that sold in August) declined from 9 to 6.
Please feel free to reach out at (760) 840-1360 so we can talk about your particular housing needs and budget, and any questions 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 July 2022
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