Solana Beach up 24% ??

User Forum Topic
Submitted by rjt on January 22, 2009 - 1:34am

In the San Diego Tribune they listed the price appreciation/depreciations for San Diego county.

Solana Beach was one of the few areas that was actually up in 2008 - and by 24%!!

If one is looking at houses in the $1 million range, though, in SB they are east of 5, and built in the early 70's, typically not much remodeled.

Is it worth it to buy in SB, or would it be better to go up to Carslbad area, where you can get much more house for your money?

Which is better for families?

Any opinions/advice?

‹ Bay Crest Condos - Point Loma How to find out if owner is current? ›
rjt, Solana Beach and a few
Submitted by bake on January 22, 2009 - 8:16am.

rjt, Solana Beach and a few of the other zips that are faring better are doing so simply because owners living there by and large have better staying power. The fundamentals (median income, what the property would rent for, and what you can get if you go elsewhere) indicate these homes are still way overpriced, and are overdue for a correction.

On the other hand, there are now many areas in San Diego that are pretty much in line with the fundamentals. I think now is a good time to buy (if you're thinking long term, not short term) in those neighborhoods.

Solana Beach is also a very
Submitted by SD Realtor on January 22, 2009 - 3:16pm.

Solana Beach is also a very small market with regards to inventory and number of listings. A median price in Solana Beach can get pushed around bigtime due to a VERY small number of sales.

Exactly. Sample is just too
Submitted by SK in CV on January 22, 2009 - 5:15pm.

Exactly.

Sample is just too small to jump to any conclusion based on these numbers.

The last 5 months of closings in SB have been

Month... #... Average...... Median

Dec ...16 ...$1,160,094 ... $1,000,000
Nov ... 3 ... $925,385 ..... $943,155
Oct ... 8 ... $732,262 ...... $665,000
Sept...12 ...$1,047,042 .... $800,000
Aug ...13 ...$1,209,277 ..... $987,000

The numbers are all over the place. So few closings and such a wide variation in the neighborhoods, these numbers by themselves are almost meaningles.