Is Solvang, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Solvang has remained a Seller's Market.
Housing Prices in Solvang, CA
How much do homes in Solvang, CA cost?
Median Sold Price
$1,400,000
$671/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Solvang was $1,400,000 in May 2024, up 2.9% from last year, and the median price per square foot was $671.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $557.4K | $435K | -22.0% |
2 Bedrooms | $725K | $585K | -19.3% |
3 Bedrooms | $1.3M | $1.4M | +7.7% |
4 Bedrooms | $1.5M | $1.4M | -7.5% |
5+ Bedrooms | $2.3M | $1.5M | -33.3% |
Summary: Solvang housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22%, 2 bedroom homes decreased by 19.3%, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 7.5%, and 5+ bedroom homes decreased by 33.3%.
Median Sold Price Compared To Nearby Cities
Santa Ynez | $1.5M | $2.1M | +42.6% |
Solvang-Santa Ynez | $1.2M | $1.3M | +15.8% |
Solvang | $1.3M | $1.4M | +2.9% |
Housing Supply in Solvang, CA
How many homes are available in Solvang, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
36 | 40 | +11.1% |
Summary: The Solvang real estate market had 40 homes for sale in May 2024, a 11.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 5 | 3 | -40.0% |
3 Bedrooms | 14 | 15 | +7.1% |
4 Bedrooms | 7 | 11 | +57.1% |
5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The Solvang housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 40%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 7 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Solvang in May 2024, the same as the previous month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
16 Days | 73 Days | +345.9% |
Summary: Homes in Solvang had an average of 73 days on market in May 2024, up by 345.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 7 homes were sold in Solvang; 29% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.