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 has seen less dramatic changes in their real estate market 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). The data are believed to be reliable but are not guaranteed.
In March 2009 there were 6 homes sold in Solana Beach, as compared to 8 sold in February (a 25% decrease in sales). Here's the breakdown of overall activity.
- 2 of the homes were detached homes and 4 were attached
- The average sales price was $824,583, an increase of 26% over the average in February (keep in mind that only attached homes sold in February at a much lower average price, and the dramatic increase is due to the 2 higher-priced detached homes that sold last month at an average of $1,383,750)
- The two detached homes that sold in March were on the market for an average of 74 days and sold at 89% of the asking price (average)
- The 4 attached homes that sold in March sold for an average price of $545,000, were on the market an average of 72 days (down from 113 days in February) and sold at 92% of the asking price on average
- One of the 6 homes that sold was a bank owned condo selling at 91% of the list price
At the end of March 2009 there were 126 Solana Beach homes for sale, an increase in inventory of 24% over February. Given fewer homes sold this is a concern. This represents an inventory of 9.9 months for attached homes (versus 7.6 for February) and 21.9 months (versus 14.5) for detached based on the current rate of sales over the last 6 months. Detached homes range in price from $475,000 (a short sale) to $4,995,000; attached homes are $495,000 to $1,950,000
According to the MLS 13 of the available homes are short sales or bank owned properties (about10%), substantially less than you find in many other San Diego communities.
In March 31 homes came on the market, a 25% increase over February: 18 detached and 13 attached. During this time only 4 homes went pending (2 detached, 2 attached), so we should expect the absorption rate (inventory) to increase even further once April numbers are available.
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 December. More details can be provided if needed with regard to current activity as well.
READ MORE:
Solana Beach Real Estate - Solana Beach Market Report for February 2009
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If I can provide more information about Solana Beach, Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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Hi Jeff, That s a very good expose about Solana Beach. I have found very few single story homes for a Buyer that will be relocating form Northern California. For a client last year I found lots of them. People seem to wiling to pay more for them since Solana Beach is a choice near the coast destination.
..and is home to the best-looking mortgage broker in California
William - well finding the RIGHT SS home is a challenge. I have had a bunch of buyers in that market.
Brian - good looking AND smart and...
Jeff
Jeff nice work putting together the market summary for Solana Beach. Love the picture...wish I was there.