What Happened in the Solana Beach Real Estate Market in November 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 November 2011 there were 14 Solana Beach homes sold, with a modest increase over the last 2 months. Here’s the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold |
14 (up 17%) |
11 (up 83%) |
3 (down 57%) |
|
Average $ |
$883,821 (up 14%) |
$973,727 (down 13%) |
$554,166 (up 27%) |
|
Days on Market |
84 |
93 |
50 |
|
Sale Price/List Price |
95% |
96% |
93% |
Sales volume in the Solana Beach real estate market for November rose substantially for detached homes, but we saw the opposite trend for attached. Detached homes took longer to sell (almost twice as long) as in the previous month, and we are seeing a fair amount of negotiation in prices, especially for attached homes/condos . Given the small number of sales, one cannot draw any firm conclusions about pricing trends.
At the end of November 2011 there were 106 Solana Beach homes for sale, down 10% from October’s inventory, another decline, making the Solana Beach market more competitive for buyers. 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 8 months for attached homes (down from 8.3 last month) and 6.4 months for detached (down from 8.8 months in October) based on the current rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In November 17 homes came into the Solana Beach real estate market, 3 fewer than last month; 14 homes went pending in November 2011, in contrast to 8 last month, 75% more.
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 November. 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 October 2011
Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for September 2011
Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for August 2011
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
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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com
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Jeff very interesting I am hearing from many sources all over the Luxury Market has picked up as I see in your area as well.
Jeff, Not a bad days on market stat. Our area for the most part is much longer. Hopefully the market continues to head upwards for you!