What Happened in the Solana Beach Real Estate Market in December 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 December 2011 there were 12 Solana Beach homes sold, a modest decline from last month. Here’s the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold |
12 (down 14%) |
7 (down 36%) |
5 (up 33%) |
|
Average $ |
$1,013,666 (up 15%) |
$1,321,571 (up 36%) |
$582,600 (up 5%) |
|
Days on Market |
75 |
62 |
94 |
|
Sale Price/List Price |
96% |
95% |
97% |
Sales volume in the Solana Beach real estate market for December declined, especially for detached homes (but this % was only a drop by 2 sales), but we saw the opposite trend for attached homes. Interestingly average sales prices went up fairly significantly – this is apparently due to 3 sales over $1.7 million. We are still seeing negotiation in prices, on average from 3 – 5%. Given the small number of sales, one cannot draw any firm conclusions about pricing trends.
At the end of December 2011 there were 99 Solana Beach homes for sale, down 7% from November’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 9.8 months for attached homes (dup from 8months last month) and 6 months for detached (down from 6.4 months in November) based on the current rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In December 16 homes came into the Solana Beach real estate market, 1 less than last month; 13 homes went pending in December 2011, in contrast to 14 last month.
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.
SEARCH FOR SOLANA BEACH HOMES FOR SALE
READ MORE:
Solana Beach Homes for Sale – What Happened in the Solana Beach Real Estate Market in November 2011?
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
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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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Hi Jeff,
Great post...thanks for sharing. Best wishes for a successful 2012!
Jeff
I like how you started your market report using a picture --- and a postcard-perfect one, at that. Beautifully set up and written report. You gave me an idea on how to spice up my market report. Thanks for sharing!
That's a really cool photo to accompany your market report, Jeff! Let's hope that 2012 proves to be the year that we turn the corner on the market and experience great improvememt.
Thanks, Lori. To you as well.
Pacita - what a nice things to say. I do this with every market reports - it's a nice way to showcase some of the beauty in each community. You'll have fun with it (and so much prettien than just a bunch of numbers)
Myrl -thanks! We are seeing some positive trends but we need more inventory. I am hopeful since there is so much activity right now.
Jeff