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 May 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

$1,400,000

$671/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$40,000(+2.9%)

Key Takeaway

Homes in Solvang have sold for 2.9% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $557.4K$435K
-22.0%
2 $725K$585K
-19.3%
3 $1.3M$1.4M
+7.7%
4 $1.5M$1.4M
-7.5%
5+ $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
+42.6%
Solvang-Santa Ynez
+15.8%
Solvang
+2.9%

Housing Supply in Solvang, CA

How many homes are available in Solvang, CA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3640+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

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 53
-40.0%
3 1415
+7.1%
4 711
+57.1%
5+ 910
+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 2024May 2024CHANGE
770.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was 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. 85.7% of homes here sold below asking price last month.

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 2023May 2024CHANGE
16 Days73 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 1 Day Ago

Newest Listings in Solvang, CA

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