What’s the Value of my Solana Beach Home?
Solana Beach Home Sales Report for April 2019
Understanding recent trends and current market conditions is essential so buyers and sellers 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 home listings and sales (private sales are not included, nor are multifamily properties or mobile/manufactured housing). The data are believed to be reliable at the time this report was published, but are not guaranteed.
In April 2019 there were 10 Solana Beach homes sold, 1 less than last month. Here are the highlights.
Detached Homes Sold
4 (down 33%), 17 Days on Market, Average Sales Price $1,569,650 (down 46%), Average sale 96% of original asking price
Attached Homes (condos, town homes, twin homes) Sold
6 (up 20%), 46 Days on Market, Average Sales Price $1,159,583 (up 32%), Average sale 94% of original asking price
Overall sales volume in the Solana Beach housing market for April dropped by 1 from March, with 1 more attached home sale but 2 fewer detached. Average sales prices increased for attached homes (condos, town homes) in large part due to the sale of 1 home over $2M that raised the average; there was a significant decrease in average price for detached single family (no doubt due to the sale of 1 home at $3.065M and 1 at $8.25M last month that had substantially raised the average sales price). Average marketing time dropped substantially for detached homes and for attached homes.
Buyers were able to negotiate their sales prices down from original list price, on average 4 - 8%; however, 7 home buyers (30%) paid asking price or better. 30% of the homes sold for cash, compared to 27% last month.
The median sales price of a detached home was $1,367,000 (down 50%), and $1,049,500 (up 40%) for attached. Given the small number of sales, one should not draw any firm conclusions about pricing trends over just a 1-month period.
At the end of April 2019 there were 58 homes for sale in Solana Beach, an increase by 12% from last month, the 4th increase and more good news for buyers. There were no contingent listings (these are typically short sale or REO homes with offers being reviewed by lenders and considered active although some may be first right of refusals), the same as last month.
This represents an inventory of 5.6 months for attached homes (up from 4.6 months last month) and 5 months for detached (down from 6.2 months last month) based on the current rate of sales over the last 3 months. Housing is a sellers’ market for attached home buyers, and has shifted again from being balanced to more of a buyer's market for detached single family home buyers.
In April 30 new listings hit the Solana Beach real estate market, 3 more than in March; the number of homes going pending (excluding homes that sold in April) also rose, from 8 to 20 in April. Both are good indications of our busy spring market!
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 local market conditions affect your buying and selling needs and plans. Then we can create a strategy to help you buy or sell your Solana Beach home in 2019.
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If I can provide more information about homes for sale in Carlsbad and in surrounding areas, our local housing market conditions, or assist you, friends or family in a purchase 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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