What’s the Value of my Solana Beach Home?
Solana Beach Home Sales September 2017
Understanding recent trends and current market conditions is essential so you can make informed decisions about buying or selling Solana Beach Homes for Sale.
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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 at the time the report was published, but are not guaranteed.
In September 2017 there were 24 Solana Beach homes sold, an increase of 26% from the number of sales in August, a contrast to the declines we saw in other nearby communities!
TOTAL HOMES SOLD
24 (up 26%), 31 Days on Market, Ave. Sales Price $1,359,636 (down 24%), Ave. sale 95% of asking price,
Detached Homes Sold
16 (up 33%), 27 Days on Market, Ave. Sales Price $1,637,093 (down 22%), Ave. sale 97% of asking price
Attached Homes Sold
8 (up 14%), 39 Days on Market, Ave. Sales Price $804,720 (down 31%), Ave. sale 93% of asking price
Overall sales volume in the Solana Beach housing market for September increased from August, especially for detached homes, in contrast to other communities that saw a drop in sales. Average sales prices decreased for detached and for attached homes, as did the average time on the market. We are still seeing negotiation in prices, on average 3 - 7%, however 33% of the homes sold for asking price or better. 33% of the homes sold for cash, compared to 63% last month.
The MEDIAN sales price of a detached home was $1,336,750 (down 11%), and $727,882 (down 29%) for attached. Given the number of sales, one cannot draw any firm conclusions about pricing trends over just a 1-month period.
At the end of September 2017 there were 38 homes for sale in Solana Beach, an increase of 9%, the second increase in inventory, another contrast with other communities. There were no contingent listings (typically short sale or REO homes with offers being reviewed by lenders and considered active) as in the last several months. This represents an inventory of 1.9 months for attached homes (the same as last month) and 1.2 months for detached (the same as last month) based on the current rate of sales over the last 6 months. Housing remains very competitive for buyers in Solana Beach, and is a very strong sellers’ market for both detached and attached homes.
In September 20 new listings hit the Solana Beach real estate market, about 31% fewer than in August; similarly, the number of homes going pending decreased to 12 (down 54%) from 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 1 or 2 months and closed in September. Please give me a call at (760) 840-1360 so we can discuss your housing needs and budget, and any questions you have about the market and how it affects your buying and selling needs and plans.
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If I can provide more information about homes for sale in Carlsbad and in 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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