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Solana Beach, San Diego, Real Estate Market Trends and Community Information, August 2006

COMMUNITY INFORMATION

Solana Beach is situated in the northern inland part of San Diego County within the state of California. There are approximately 12,563 residents in this Zip Code (92075) and 5,394 households. The median age of residents is 41.18 years.

TEMPERATURE

The temperature in Solana Beach is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 72įF. The coldest time of year occurs in December with average temperatures falling to 56įF.

HOME AND REAL ESTATE PRICES

The housing options in Solana Beach include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:

- One bedroom townhouse/condominium start in the high 0,000s.
- Two bedroom townhouse/condominium start in the low 0,000s.
- Three bedroom townhouse/condominium start in the mid 0,000s.
- Two bedroom single-family homes start in the high 0,000s.
- Three bedroom single-family homes start in the mid 0,000s
- Four bedroom single-family homes start in the high 0,000s

REAL ESTATE MARKET TRENDS

As with most products and services in the United States, price shifts in the real estate industry are subject to the forces of supply and demand. Whether itís a buyers market or a sellerís market, it is useful to evaluate home sales data for the most recent month available (June 2006), compared against the same period in the previous year (June 2005).

The median price of single-family homes jumped from ,112,500 in June 2005 to ,200,000 June 2006. One more property sold in June 2006 (7 homes) than in June 2005 (6 homes). The average time to sell a home increased from 16 days in June 2005 to 40 days in June 2006.

The median price of condominiums and townhomes jumped from 0,000 in June 2005 to 1,000 in June 2006, which represents a 14.4% increase. Fewer units sold in June 2006 (4 units) than in June 2005 (9 units). The average time to sell a property increased from 19 days in June 2005 to 39 days in June 2006.

Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to understand enduring market trends.

The source for the market trends data above is ReReport.com.


About the Author: http://www.sdhomedatabase.com




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