Is Solvang, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Solvang is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Solvang was a Buyer's Market.

Key Takeaway

Solvang is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Solvang, CA

How much do homes in Solvang, CA cost?

Median Sold Price

$1,625,000

$591/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

+$585,000(+56.3%)

Key Takeaway

Homes in Solvang have sold for 56.3% more than they did a month ago.

Summary: The median home sold price in Solvang was $1,625,000 in November 2024, up 56.3% from last month, and the median price per square foot was $591.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 --
N/A
3 $1.0M$1.2M
+15.4%
4 -$1.7M
N/A
5+ -$1.8M
N/A

Summary: Solvang housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 15.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Solvang, CA

How many homes are available in Solvang, CA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
32320.0%

Summary: The Solvang real estate market had 32 homes for sale in November 2024, the same as October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 33
0.0%
3 1111
0.0%
4 89
+12.5%
5+ 109
-10.0%

Summary: The Solvang housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 10%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
16+500.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Solvang, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Solvang in November 2024, up by 500.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% were sold over asking.

Days on Market for Solvang, CA

How long does it take to sell a home in Solvang, CA?

Average Sale Time

Oct 2024Nov 2024CHANGE
74 Days125 Days+69.6%

Summary: Homes in Solvang had an average of 125 days on market in Nov 2024, up by 69.6% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Solvang are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During November 2024, 6 homes were sold in Solvang; 17% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

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