What’s the Value of my Solana Beach Home?
Solana Beach Home Sales for October 2022
Solana Beach is a 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 for sellers and buyers to understand the current local market conditions in Solana Beach in order to 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.
9 Solana Beach homes sold in October, 3 more than the number sold last month. Here are the details:
Single Family Homes Sold
3 (up by 2); 21 Days on Market; the Average Sales Price was $2,450,000; the Average Sales Price was 98% of original asking price.
Condos, Townhomes and Duplexes Sold
6 (up by 1); 39 Average Days on Market; Average Sales Price $1,649,166 (up 5%); the Average sales price was 94% of original asking price.
Overall sales volume for the Solana Beach housing market dropped rose in October, with 1 more condo, townhome and duplex sale and 2 more single family homes. The average sales price for condos, townhomes and duplexes rose modestly compared to last month.
The single family homes averaged 21 days on the market (compared to the 1 sale in September that went pending in 8 days). Marketing time was slightly longer for condos, townhomes and duplexes than last month. 4 of the 9 homes sold in 1 week or less.
The majority of the buyers negotiated their sales prices down, but 1 buyer paid asking price and 2 paid over asking price.
Sales prices ranged from $835,000 to $2,795,000. The median sales price of the condos, townhomes and duplexes in October was $1,622,500 (up 19%). The median for the single family homes was $2,650,000 (only 1 home sold in September so there is no median to compare, but that home sold for $4,350,000).
At the end of October 2022 there were 36 homes for sale in Solana Beach, 5 more than last month. Home prices range from $595,000 to $13,995,000.
Solana Beach has an inventory of 3.7 months for condos, townhomes and duplexes (up from 3 months last month), and 4.5 months for single family homes (up from 3.8 months last month), based on the rate of sales over the last 3 months.
Solana Beach remains a strong seller’s market for condos, townhomes and duplexes, and for single family homes.
There were no Under Contract listings in October, the same as last month.
In October 19 new listings came on the Solana Beach real estate market, 5 more than last month. The number of homes going pending (excluding homes that sold in October) also increased, from 6 to 11.
Because of the small number of sales in Solana Beach one should not draw firm conclusions about pricing, or other trends.
Please feel free to reach out at (760) 840-1360 so we can talk about your particular housing needs and budget, and your 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.