Del Mar is a small coastal town in North San Diego County with a reputation as one of the most expensive towns in the county. Indeed, the Del Mar real estate market currently has two of the most expensive homes for sale in San Diego County (at $76M and $50M), and still holds the record for the most expensive property sold (at about $48,000,000).
READ MORE: Del Mar - Affluent Seaside Town (A Community Profile)
Having up to date information on the local Del Mar real estate market is important to make informed decisions about buying and selling property. Here are the statistics obtained from the MLS for Del Mar for December 2009 (the data are believed accurate but are not guaranteed, and do not include private sales).
20 homes sold in the Del Mar real estate market in December, 3 more than in November. Here's a summary of the activity:
|
Total |
Detached |
Attached |
# Sold
|
20 (up 18%) |
16 (up 23%) |
4 (no change) |
Average Price
|
$1,838,975 (up 28%) |
$2,168,000 (up 24%) |
$502,875 (up 28%) |
Days on Market
|
93 |
108 |
37 |
Sale Price/List Price Ratio
|
93% |
89% |
97% |
Sales volume shifted up fairly well over the prior month with good increase in prices as well. Part of the shoot up in detached home prices is due to the sale of a $12 million oceanfront home in the Del Mar Beach Colony (BTW one of the detached home sales was a shortie).
There were 9 Del Mar homes on the market at the end of November with a Contingent status (i.e., homes with offers being reviewed by short sale and REO lenders). These are included in the overall Active statistics below.
16 homes entered the Del Mar real estate market in December 2009, 1 more than in October.
There were 127 Del Mar homes for sale at the end of December 2009, 17% fewer than in November, which had dropped 15% from October. At the current rate of sales over a 6-month period, this represents an inventory of 7.8 months for detached homes (another drop, down from 9.8 month last month), and 6 months for attached properties, another decline of almost 3 months from last month.
12 Del Mar homes went pending in December, down 6% over last month, although given the holiday this may not be a big surprise.
As with any statistic, 1 month of numbers are not a trend, so it is important to watch what is and has been happening over a period of time. One should not draw any firm conclusions regarding pricing because of the extremes in the Del Mar real estate market, however there are some encouraging numbers regarding a more stable inventory with fairly consistent sales.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
Del Mar Real Estate - Del Mark Real Estate Market Report for November
Del Mar Real Estate - Del Mar Real Estate Market Report for October 2009
Del Mar Real Estate - Del Mar Real Estate Market Report for September 2009
Del Mar Real Estate - Del Mar Real Estate Market Report for August 2009
Del Mar Real Estate - Del Mar Real Estate Market Report for July 2009
Del Mar Real Estate - Del Mar Real Estate Market Report for June 2009
Del Mar Real Estate - Del Mar Real Estate Market Report for May 2009
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If I can provide more information about Del Mar real estate and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2010 Jeff Dowler "The California Relocation Dude" Carlsbad Homes and Real Estate Tidbits
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