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 neutral's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

Solvang-Santa Ynez is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Solvang-Santa Ynez, CA

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

Median Sold Price

$1,390,050

$675/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$190,050(+15.8%)

Key Takeaway

Homes in Solvang-Santa Ynez have sold for 15.8% more than they did a year ago.

Summary: The median home sold price in Solvang-Santa Ynez was $1,390,050 in May 2024, up 15.8% from last year, and the median price per square foot was $675.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $520K$435K
-16.3%
2 $740K$629.7K
-14.9%
3 $1.2M$1.4M
+16.7%
4 $1.5M$1.3M
-9.8%
5+ $1.9M$1.7M
-11.9%

Summary: Solvang-Santa Ynez housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.3%, 2 bedroom homes decreased by 14.9%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 9.8%, and 5+ bedroom homes decreased by 11.9%.

Median Sold Price Compared To Nearby Cities

Santa Ynez
+42.6%
Buellton
+21.7%
Solvang-Santa Ynez
+15.8%
Solvang
+2.9%

Housing Supply in Solvang-Santa Ynez, CA

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

Number of Homes For Sale

Apr 2024May 2024CHANGE
112131+17.0%

Summary: The Solvang-Santa Ynez real estate market had 131 homes for sale in May 2024, a 17.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 25
+150.0%
2 89
+12.5%
3 5260
+15.4%
4 3137
+19.4%
5+ 1920
+5.3%

Summary: The Solvang-Santa Ynez housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 19.4%, and 5+ bedroom homes increased by 5.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1319+46.2%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 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. 73.7% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in Solvang-Santa Ynez in May 2024, up by 46.2% month-over-month. Of the 19 sold homes, 74% were sold under asking, 11% were sold at asking, and 16% 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

May 2023May 2024CHANGE
26 Days87 Days+234.8%

Summary: Homes in Solvang-Santa Ynez had an average of 87 days on market in May 2024, up by 234.8% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

5 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 May 2024, 19 homes were sold in Solvang-Santa Ynez; 42% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 26% 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

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