What’s my Solana Beach Home Worth?
Solana Beach Real Estate Market Report for January 2016
As a buyer or seller in the Solana Beach real estate market, understanding recent trends and current market conditions is essential so you can make informed decisions about Solana Beach Homes for Sale; media reports focus on general market statistics and do not provide you with an accurate picture of the local Solana Beach housing market.
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The following data are taken from the San Diego MLS for Solana Beach real estate (private sales are not included in these statistics, nor are multifamily properties or mobile/manufactured housing). The data are believed to be reliable at the time the report was published, but are not guaranteed.
In January 2016 there were 13 Solana Beach homes sold, the same as in December, unlike other communities where we saw a decline in sales in January.
TOTAL HOMES SOLD
13 (no change), 41 Days on Market, Ave. Sales Price $1,055,903 (down 14%), Ave. sale 96% of asking price
Detached Homes Sold
6 (mo change), 34 Days on Market, Ave. Sales Price $1,596,666 (down 12%), Ave. sale 96% of asking price
Attached Homes Sold,
7 (no change), 47 Days on Market, Ave. Sales Price $592,392 (down 19%), Ave. sale 96% of asking price
Sales volume in the Solana Beach housing market for January remained the same as in December, unlike other communities that saw a decline in sales. Average sales prices declined across the board. We are still seeing negotiation in prices, on average 4%. 31% of the homes sold for cash (compared to 38% as last month).
The MEDIAN sales price of a detached home was $1,475,000 (up 11% from last month), and $640,000 (down 10%) for attached. Given the relatively small number of sales one should not draw any firm conclusions about pricing trends over a 1-month period.
At the end of January 2016 there were 45 homes for sale in Solana Beach, up 13% from last month, following several inventory declines. Once again there were no contingent listings (short sale or REO homes with offers being reviewed by lenders and considered active) as of the end of the month. This represents an inventory of only 2.2 months for attached homes (up from 1.4 last month) and 4.2 months for detached (the same as for last month) based on the current rate of sales over the last 6 months. Housing remains very competitive for buyers in Solana Beach, and is a strong sellers’ market for attached homes, and a seller’s market for detached homes.
In January 32 homes came on the Solana Beach real estate market, 2 and ½ times as many as in December (up 146%); similarly, the number of homes going pending doubled, from 8 to 17 (up 113%).
This overview of the Solana Beach real estate market is based on information provided by the MLS for homes that went under contract in the last couple of months and closed in January. More details can be provided if needed with regard to current activity as well.
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