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 the Solana Beach real estate market has seen less dramatic changes than some other nearby towns further inland.
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 July 2009 14 homes sold in the Solana Beach real estate market, a drop of 26% from June sales. Here's the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold
|
14 |
6 |
8 |
|
Average $
|
$1,005,026 (no change) |
$1,659,166 (up 14%) |
$512,500 (down 24%) |
|
Days on Market
|
73 |
85 |
64 |
|
Sale Price/List Price
|
94% |
95% |
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. The days on market remained about the same, but prices shifted - up for detached homes and down for attached.
Of the 14 home sales, only 1 (an attached home) was a short sale.
There were 6 Solana Beach homes on the market with a Contingent status (1 less than last month), 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 July 2009 there were 138 Solana Beach homes for sale (ranging from $399K for an attached unit to $5.25 million), down 5% from June numbers (when one includes the Contingency status homes). This represents an inventory of 7.4 months for attached homes (compared to 11.8 months in June) with a decrease to 17.8 months for detached homes from the 24.3 months in June, based on the current rate of sales over the last 6 months. These are both fairly significant and positive changes.
In July 24 homes came on the market, 29% fewer than in June, which had dropped 3% from May. At this time 16 homes went pending, a 30% increase from June. Overall these numbers suggest a positive trend for the Solana Beach real estate inventory, despite the modest drop in sale volume.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
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 June 2009
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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If I can provide more information about Solana Beach real estate 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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Jeff, we have to look for the positives all the time, and only one short sale out of the 14 sales is a big positive the way I look at it.
Hi Jeff! Excellent market report--as George said, at least you only had ONE short sale! And the average sales price is WELL above ours here!
Have a great week...
I would agree it is difficult to make any assumptions with so few sale but in general some of the highest priced areas haven't seen the losses others have.
Absolutely cool looking area. I wish I could afford it!
Wow Jeff, great market report. It seems as though someone has the money to purchase in this price range. I'm not one of them though. ;-) Your two photos are interesting. One looks conservative, and the other? Like someone who lives at the beach. ;-)
You outdo me on market reports any day jeff! Thanks for the update on Solana County...and it sure does look positive!