Del Mar Real Estate Market Report for February 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). 

17 homes sold in the Del Mar real estate market in December, 70% more than in January, the third month of increased sales. Here's a summary of the activity: 

Overall sales volume increased substantially over the prior month, although only 1 more attached home sold than last month. Average sales prices rose significantly for attached homes, but declined for detached.

There were 6 Del Mar homes on the market at the end of February 2011 with a Contingent status (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. 

87 homes entered the Del Mar real estate market in February, 71% more than the number coming on the market in January, which was double that of new listings in December.

There were 176 Del Mar homes for sale at the end of February, 4 (2%) less than in January, the third month of inventory decline. At the current rate of sales over a 6-month period, this represents an inventory of 14.7 months for detached homes (compared to 17.1 last month), and 13.9 months for attached properties, down from 16.9 months at the end of January.

18 Del Mar homes went pending in February, 18% less than in January. 

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 January 2011

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