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 March 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

$1,380,000

$679/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$86,500(+6.7%)

Key Takeaway

Homes in Solvang-Santa Ynez have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in Solvang-Santa Ynez was $1,380,000 in March 2024, up 6.7% from last year, and the median price per square foot was $679.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $470K$455K
-3.2%
2 $740K$749K
+1.2%
3 $1.2M$1.4M
+12.0%
4 $1.5M$1.4M
-5.4%
5+ $2.1M$1.7M
-19.8%

Summary: Solvang-Santa Ynez housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.2%, 2 bedroom homes increased by 1.2%, 3 bedroom homes increased by 12%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes decreased by 19.8%.

Median Sold Price Compared To Nearby Cities

Santa Ynez
+40.7%
Solvang-Santa Ynez
+6.7%
Buellton
0.0%
Solvang
-9.4%

Housing Supply in Solvang-Santa Ynez, CA

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

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
89102+14.6%

Summary: The Solvang-Santa Ynez real estate market had 102 homes for sale in March 2024, a 14.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 11
0.0%
2 99
0.0%
3 4148
+17.1%
4 2526
+4.0%
5+ 1318
+38.5%

Summary: The Solvang-Santa Ynez housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 38.5%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
137-46.2%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were 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. 57.1% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Solvang-Santa Ynez in March 2024, down by 46.2% month-over-month. Of the 7 sold homes, 57% were sold under asking, 43% 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

Mar 2023Mar 2024CHANGE
47 Days13 Days-71.9%

Summary: Homes in Solvang-Santa Ynez had an average of 13 days on market in Mar 2024, down by 71.9% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Solvang-Santa Ynez are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 7 homes were sold in Solvang-Santa Ynez; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% 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 11 Days Ago

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