Solana Beach Real Estate Market Report for August 2011
Solana Beach is an affluent coastal town south of Encinitas and Cardiff, and one of the more expensive coastal communities in the North San Diego County area.
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; media reports focus on general market statistics and therefore will not provide you with an accurate picture of the Solana Beach real estate market conditions.
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 but are not guaranteed.
In August 2011 there were 12 Solana Beach homes sold, 1 more than last month. Here’s the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold |
12 (up 9%) |
6 (up 100%) |
6 (down 25%) |
|
Average $ |
$993,583 (up 39%) |
$1,320,000 (up 11%) |
$667,166 (up 24%) |
|
Days on Market |
114 |
110 |
119 |
|
Sale Price/List Price |
94% |
93% |
96% |
Sales volume rose slightly – only 1 more home even thought the percentage increase was 9%. Average sales prices rose again for detached homes, as well as for attached homes. Given the small number of sales, one cannot draw any firm conclusions about pricing trends.
At the end of August 2011 there were 128 Solana Beach homes for sale, 10% less than at the end of July. Nine of these homes are “contingent” (short sale or REO homes with offers being reviewed by lenders and considered active). This represents an inventory of 7.4 months for attached homes (down from 9.1 months) and 11.1 months for detached (down from 12.1 months in July) based on the current rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In August 25 homes came into the Solana Beach real estate market, 15% fewer than last month; 15 homes went pending in August 2011, in contrast to 9 last month, an increase of 16%.
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 August. More details can be provided if needed with regard to current activity as well.
SEARCH FOR SOLANA BEACH HOMES FOR SALE
READ MORE:
Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for July 2011
Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for June 2011
Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for May 2011
Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for April 2011
Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for March 2011
Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for February 2011
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