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Sales Activity: The total number of closed sales in 2010 was 165 compared to 154 in 2009. The number of homes in escrow as of January 15, 2010 decreased to 22 compared to 27 a month ago.
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Inventory levels: The number of homes listed for sale remained the same as the levels of a month a ago, remaining at 88. The current listing inventory compared to last year’s number of sales has dropped to just over an 8-month supply.
The Silver Lining: The Solana Beach market remains relatively stable. There continues to be a wide variety of homes that buyers can choose from. Sellers willing to become more competitive with their pricing still have an opportunity to entice the right buyer and buyers have the opportunity to purchase a home with the advantage of the competitive environment.
Mike has had over 31 years of real estate and banking experience. Early on in his career, he spent gaining knowledge in the Savings and Loan industry where he successfully lead several institutions through the Savings and Loan crisis of the early 90′s. Real estate experience came earlier on in Mike’s career as he managed and supervised real estate loan matters as well as REO Sales. It wasn’t until 1997 that Mike made the switch and became one of the county’s most successful real estate agents. Mike has a unique perspective and overall knowledge of the industry by having spent more than 31 years in real estate sales and real estate banking.