
Buyers and sellers in the Solana Beach real estate market need to know what's going on in their particular market. Solana Beach is an affluent coastal town south of Encinitas and Cardiff, and among the more expensive coastal communities. Despite changes in prices over the last several years Solana Beach real estate has seen less dramatic changes than some other nearby towns.
READ MORE: Solana Beach Real Estate
As a buyer or seller in the Solana Beach real estate market, understanding recent trends and current market conditions is essential in order to make informed decisions; area media reports focus on general market conditions and therefore will not provide an accurate picture of the local housing market in Solana Beach.
The following data are taken from the San Diego MLS (private sales are not included in these statistics, nor are multifamily properties or mobile/manufactured homes). The data are believed to be reliable but are not guaranteed.
In June 2009 there were 19 Solana Beach homes sold, up 90% over May sales, which is good news, given the inventory. Here's the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold
|
19 |
8 |
11 |
|
Average $
|
$1,005,026 (down 26%) |
$1,454,437 (down 10%) |
$678,181 (up 5%) |
|
Days on Market
|
75 |
82 |
70 |
|
Sale Price/List Price
|
92% |
92% |
94% |
Because of the fairly small number of sales, it is unwise to draw any firm conclusions about pricing trends, since the averages can shift significantly if there are high end or low end homes that distort the range.
Of the 8 detached home sales, 3 were short sales (38%). 2 of these sold for 89% of asking, and the third at 96%; 2 homes sold over $1 million. None of the attached homes sold in June were short sales.
There are 7 Solana Beach homes on the market with a Contingent status, i.e., short sale or REO homes that have offers in that are being considered by the lenders. These are included in the statistics below.
At the end of June 2009 there were 146 Solana Beach homes for sale, up by about 8% over May (when one includes the Contingency status homes). This represents an inventory of 11.8 months for attached homes (compared to 9 months in May) with an increase to 24.3 months for detached homes, up from 19.4 in May and the same as in April, based on the current rate of sales over the last 6 months.
In June 34 homes came on the market, 3 fewer than in May. At this time 12 homes went pending, 3 more than in May.
More details can be provided if needed with regard to current real estate activity in Solana Beach.
READ MORE:
Solana Beach Real Estate - Solana Beach Market Report for May 2009 Solana Beach Real Estate - Solana Beach Market Report for April 2009 Solana Beach Real Estate - Solana Beach Market Report for March 2009
Solana Beach Real Estate - Solana Beach Market Report for February 2009

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In Oceanside there were 265 homes with a contingent status at the end of June, 10% more than at the end of May - 57% of these are detached homes. This represents 37% of all the homes for sale. Thus buyers entering the market are seeing over 1/3 of the inventory already with offers in for approval for short sales and REOs. These contingent homes are included in the overall Active stats below. 
There were 157 homes (113 detached and 44 attached) homes on the market at the end of June with a Contingent status, i.e., homes with offers awaiting approval from the short sale and REO lenders. These homes are included in the overall Active stats since they are still considered active until the approvals are obtained. 
Of the Del Mar home sales in June, 3 of the 4 attached homes were REOs (the low end homes), while all of the detached home sales were regular sales. 
Because of the very small number of homes sold, it would be unwise to draw any firm conclusions of the pricing trends or other trends. This is especially true if one were to rely on the average for the two detached homes sold (at $760K and $1.475 million). 
There were 23 homes with a Contingent status at the end of June (i.e., short sale and REO homes having offers that are being considered by the lenders). These homes are still considered Active and are included in the overall active statistics below. 
There were 106 properties in Carlsbad at the end of June with the CONTINGENT status (i.e., homes with offers being reviewed for approval by short sale and REO lenders), an increase of 33% over May. 60% were detached and 40% attached (these are included in the total inventory below since they are considered to be ACTIVE properties until offer acceptance). This could be due to the fact that the status was new in May and was not being used by agents when it should have been. It may also be that there are simply more short sale and REO homes getting offers.
NOTE: There is a new status that is important for buyers to know about. The MLS now tracks those properties that are CONTINGENT, i.e., ones that have accepted offers that are waiting short sale approval, or where offers are submitted to the REO banks and awaiting approval. In the past these were lumped together in the ACTIVE category, becoming pending only once the offers were officially accepted by the banks. They are still considered active and will be included with the ACTIVE properties when tracking stats from month to month, but they do have a different status that impacts buyers who may want to submit offers (the offers would be considered back-ups). 
NOTE: There is a new status that is important for buyers to know about. The MLS now tracks those properties that are CONTINGENT, i.e., ones that have accepted offers that are waiting short sale approval, or where offers are submitted to the ROE banks and awaiting approval. In the past these were lumped together in the ACTIVE category, becoming pending only once the offers were officially accepted by the banks. They are still considered active and will be included with the ACTIVE properties when tracking stats from month to month, but they do have a different status that impacts buyers who may want to submit offers (the offers would be considered back-ups).