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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Solvang-Santa Ynez is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Solvang-Santa Ynez was a Seller's Market.

Key Takeaway

Solvang-Santa Ynez is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Solvang-Santa Ynez, CA

How much do homes in Solvang-Santa Ynez, CA cost?

Median Sold Price

$1,390,000

$686/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$135,000(+10.8%)

Key Takeaway

Homes in Solvang-Santa Ynez have sold for 10.8% more than they did a year ago.

Summary: The median home sold price in Solvang-Santa Ynez was $1,390,000 in October 2024, up 10.8% from last year, and the median price per square foot was $686.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $475K$475K
0.0%
2 $677.5K$644.5K
-4.9%
3 $1.3M$1.4M
+3.9%
4 $1.4M$1.4M
+1.5%
5+ $1.6M$1.7M
+2.0%

Summary: Solvang-Santa Ynez housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.9%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 2%.

Median Sold Price Compared To Nearby Cities

Buellton
+26.5%
Solvang-Santa Ynez
+10.8%

Housing Supply in Solvang-Santa Ynez, CA

How many homes are available in Solvang-Santa Ynez, CA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
98102+4.1%

Summary: The Solvang-Santa Ynez real estate market had 102 homes for sale in October 2024, a 4.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 45
+25.0%
3 4749
+4.3%
4 2526
+4.0%
5+ 2121
0.0%

Summary: The Solvang-Santa Ynez housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
86-25.0%

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-Santa Ynez, 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-Santa Ynez in October 2024, down by 25.0% 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-Santa Ynez, CA

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

Average Sale Time

Oct 2023Oct 2024CHANGE
88 Days88 Days0.4%

Summary: Homes in Solvang-Santa Ynez had an average of 88 days on market in Oct 2024, up by 0.4% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Solvang-Santa Ynez has remained consistent over time.

Summary: During October 2024, 6 homes were sold in Solvang-Santa Ynez; 17% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 17% 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 16 Days Ago

Newest Listings in Solvang-Santa Ynez, CA

Nearby Markets to Solvang-Santa Ynez, CA