Del Mar Real Estate Market Report for August 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 August 2010 (the data are believed accurate but are not guaranteed, and do not include private sales).
8 homes sold in the Del Mar real estate market in August, 1/3 fewer than in July. Here's a summary of the activity:
|
|
Total |
Detached |
Attached |
|
# Sold
|
8 (down 37%) |
6 (up 20%) |
2 (down 71%) |
|
Average Price
|
$959,375 (up 25%) |
$1,063,750 (up 3%) |
$646,250 (up 46%) |
|
Days on Market
|
84 |
74 |
105 |
|
Sale Price/List Price Ratio
|
92% |
91% |
96% |
Overall sales volume declined over the prior month. Average sales prices shifted upwards after a decline last month but overall remain under $1 million.
There were 10 Del Mar homes on the market at the end of August with a Contingent status, the same as the last 2 months (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.
35 homes entered the Del Mar real estate market in August, 4 less than last month.
There were 184 Del Mar homes for sale at the end of August, about the same as in July (2 less). At the current rate of sales over a 6-month period, this represents an inventory of 17.1 months for detached homes (compared to 17 last month), and 11.1 months for attached properties, up from 10.6 months as of the end of July.
15 Del Mar homes went pending in August, 4 more than in July (an increase of 36%).
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 Homes for Sale - Del Mar Real Estate Market Report for July 2010
Del Mar Homes for Sale - Del Mar Real Estate Market Report for June 2010
Del Mar Real Estate - Del Mar Real Estate Market Report for May 2010
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
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