Del Mar Homes for Sale - Del Mar Market Report for January 2011
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 make informed decisions about buying and selling Del Mar homes. Here are the statistics obtained from the MLS for Del Mar for January 2011 (the data are believed accurate but are not guaranteed, and do not include private sales).
10 homes sold in the Del Mar real estate market in January, 17% less than in December, the second month of increased sales. Here's a summary of the activity:
|
|
Total |
Detached |
Attached |
|
# Sold
|
10 (down 17%) |
5 (down 37%) |
5 (up 25%) |
|
Average Price
|
$1,108,283 (down 4%) |
$1,782,342 (up 23%) |
$434,224 (down 27%) |
|
Days on Market
|
105 |
60 |
150 |
|
Sale Price/List Price Ratio
|
94% |
89% |
*100% |
* Note - 1 home sold at asking and 2 sold for over the asking price
Overall sales volume decreased over the prior month, although 1 more attached home sold than last month. Average sales prices rose significantly for detached homes, but declined for attached.
There were 5 Del Mar homes on the market at the end of January 2011 with a Contingent status, half as many as in December (i.e., homes with offers being reviewed by short sale and REO lenders, 3% of the total number of homes for sale). These are included in the overall Active statistics below.
51 homes entered the Del Mar real estate market in January, more than twice the number coming on the market in December during the holidays.
There were 180 Del Mar homes for sale at the end of January, 4% less than in December, the second month of inventory decline. At the current rate of sales over a 6-month period, this represents an inventory of 17.1 months for detached homes (compared to 18.1 last month), and 16.3 months for attached properties, up from 15.3 months at the end of December
22 Del Mar homes went pending in January, 57% more than in December.
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.
READ MORE:
Del Mar Homes for Sale | Del Mar Real Estate Market Report for December 2010
Del Mar Homes for Sale | Del Mar Real Estate Market Report for November 2010
Del Mar Homes for Sale | Del Mar Real Estate Market Report for October 2010
Del Mar Homes for Sale | Del Mar Real Estate Market Report for September 2010
Del Mar Homes for Sale | Del Mar Real Estate Market Report for August 2010
Del Mar Homes for Sale - Del Mar Real Estate Market Report for July 2010
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