What’s the Value of my Solana Beach Home?
Solana Beach Home Sales for October 2020
Understanding recent trends and current market conditions is essential so buyers and sellers can make educated decisions about buying or selling Solana Beach Homes for Sale.
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The following data are taken from the 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 October 2020 there were 19 Solana Beach homes sold, 1 less than last month. Here are the highlights:
Single Family Homes Sold
10 (up by 1); Average Sales Price $2,376,750 (up 15%); Average Sales Price was 94% of original asking price
Condos, Townhomes and Duplexes Sold
9 (down by 2); 17 Average Days on Market; Average Sales Price $945,877 (down 32%), Average Sales Price was 94% of original asking price
Overall sales volume in the Solana Beach housing market for October dropped slightly, with 1 more single family home sale but 2 fewer condo, townhome and duplex sales. The average sales price for single family homes rose substantially, no doubt due, in part, to the sale of 4 homes over $2M with 1 at over $6M; we saw a big decrease in the average sales price of condos and townhomes compared to last month, likely due to last month’s sale of 4 properties for more than $1M that had raised that average.
The average marketing time for condos and townhomes was shorter than in September.
Buyers were able to negotiate their sales prices down from original list price, on average by 4%. 3 Solana Beach buyers (16%) paid asking price or better for their new homes.
The median sales price of the condos, townhomes and duplexes in October was $925,000 (19% higher). The median price of the single family homes that sold was $1,825,000, up 1%.
At the end of October 2020 there were 43 homes for sale in Solana Beach, ranging in price from $599,999 to $18,995,000, about 10% more than last month (39). Solana Beach has a housing inventory of only 2 months for condos and townhomes (up from 1.7 months last month) and 2.4 months for single family homes (up from 2.2 months last month) based on the current rate of sales over the last 3 months.
At this time the housing market continues to strongly favors sellers of condos and townhomes, as well as single family homes.
There were no Active Under Contract listings in October, the same for the last 6 months.
In October 31 new listings came on the Solana Beach real estate market, 63% more than last month and good news for buyers. The number of homes going pending (excluding homes that sold in October) also rose from September, with 20 pendings compared to 16. It was a pretty busy month for buyers and sellers!
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 2020
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If I can provide more information about homes for sale in Carlsbad and in surrounding areas, local housing market conditions, or assist you, friends or family in a purchase or sale, please call or text me at (760) 840-1360, or email me at JeffDowlerSolutions@gmail.com
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