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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Hi Jeff, I am in escrow with an attached property and the appraisal is due in in the next day or so and unlike at other times in other markets , this one is so much tougher to get to close. Your market stats indicate that there is more coming on the market and because of the variety of property, from my perspective the increase in supply is welcome.
Jeff
It's nice to see you have inventory that comes on frequently, and that things are moving.
Congratulations on becoming an ambassador for Active Rain, Jeff! And nice analysis of
Solana beach.
Jeff as usual you have done a terrific job presenting the local Solona Beach Real Estate statistics!
William - yes, there certainly are some challenges. And I agree about supply, as long as the demand is there. I have always found SB to be an interesting market to watch.
Tom - because of the price point the market here tends to be slower than in places like Encinitas and carlsbad. And now that it's summer it will likely subside a bit.
Maria - why thank you, on both compliments.
Thanks, Bill - hopefully consumers will find it useful.
Jeff