Del Mar Real Estate Market Report for May 2010
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 $61M and $39M), 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 for buyers and sellers to be able to make informed decisions about buying and selling property. Here are the statistics obtained from the MLS for Del Mar for May 2010 (the data are believed accurate but are not guaranteed, and do not include private sales).
15 homes sold in the Del Mar real estate market in May, 3 more than in April. Here's a summary of the activity:
|
|
Total |
Detached |
Attached |
|
# Sold
|
15 (up 25%) |
8 (down 20%) |
7 (up 350%) |
|
Average Price
|
$1,196,500 (down 62%) |
$1,494,375 (down 21%) |
$856.071 (up 87%) |
|
Days on Market
|
121 |
134 |
54 |
|
Sale Price/List Price Ratio
|
90% |
89% |
95% |
Sales volume rose over the prior month by 3 homes, and with an overall significant decrease in home prices for detached homes, but a substantial rise in average price for the 7 attached homes sold.
There were 10 Del Mar homes on the market at the end of May with a Contingent status (i.e., homes with offers being reviewed by short sale and REO lenders, 5% of the total number of homes for sale). These are included in the overall Active statistics below.
44 homes entered the Del Mar real estate market in May, up 7% from April.
There were 185 Del Mar homes for sale at the end of May, an increase of 11% over April, and the 5th consecutive monthly increase in inventory, good news for buyers. At the current rate of sales over a 6-month period, this represents an inventory of 14.8 months for detached homes (up from 12.3 last month), and 12.8 months for attached properties, down from 13.8 months as of the end of April.
9 Del Mar homes went pending in May, less than half the number that did so in April.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
As with any statistic, 1 month of numbers is 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, as well as the fairly small number of sales, however there are some encouraging numbers regarding a more stable inventory with fairly consistent sales.
READ MORE:
Del Mar Real Estate - Del Mar Real Estate Market Report for April 2010
Del Mar Real Estate - Del Mar Real Estate Market Report for March 2010
Del Mar Real Estate - Del Mar Real Estate Market Report for February 2010
Del Mar Real Estate - Del Mar Real Estate Market Report for January 2010
Del Mar Real Estate - Del Mar Real Estate Market Report for December 2009
Del Mar Real Estate - Del Mar Real Estate Market Report for November 2009
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
********************************
WANNA GOOGLE ME?
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 or email me at JDowler@remax.net.
All content copyright © 2010 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
Comments(3)