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 April 2023

Since last year, Solvang has remained a Seller'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

$1,395,000

$657/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$42,500(-3.0%)

Key Takeaway

Homes in Solvang have sold for 3% less than they did a year ago.

Summary: The median home sold price in Solvang was $1,395,000 in April 2024, down 3% from last year, and the median price per square foot was $657.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $520K$455K
-12.5%
2 $715K$615K
-14.0%
3 $1.3M$1.4M
+7.7%
4 $1.5M$1.4M
-6.0%
5+ $2.2M$1.6M
-27.7%

Summary: Solvang housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 14%, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes decreased by 27.7%.

Median Sold Price Compared To Nearby Cities

Santa Ynez
+36.7%
Solvang-Santa Ynez
+10.2%
Solvang
-3.0%

Housing Supply in Solvang, CA

How many homes are available in Solvang, CA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3539+11.4%

Summary: The Solvang real estate market had 39 homes for sale in April 2024, a 11.4% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 01
+100.0%
2 55
0.0%
3 1214
+16.7%
4 1010
0.0%
5+ 89
+12.5%

Summary: The Solvang housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
57+40.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 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, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Solvang in April 2024, up by 40.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 29% 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

Apr 2023Apr 2024CHANGE
61 Days29 Days-51.6%

Summary: Homes in Solvang had an average of 29 days on market in Apr 2024, down by 51.6% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 7 homes were sold in Solvang; 57% of homes were sold within 30 days, 43% 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 10 Days Ago

Newest Listings in Solvang, CA

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