Del Mar Real Estate Market Report for March 2011
Del Mar is a small coastal town in North San Diego County and one of the most expensive towns in the county. Indeed, the Del Mar real estate market currently has the most expensive homes for sale in San Diego County (at $61M), 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 March 2011 (the data are believed accurate but are not guaranteed, and do not include private sales).
14 homes sold in the Del Mar real estate market in March, 70% more than in January, the third month of increased sales. Here's a summary of the activity:
|
|
Total |
Detached |
Attached |
|
# Sold
|
14 (down 21%) |
12 (up 9%) |
2 (down 67%) |
|
Average Price
|
$1,415,401 (up 11%) |
$1,518,802 (down 9%) |
$795,000 (up 43%) |
|
Days on Market
|
91 |
93 |
77 |
|
Sale Price/List Price Ratio
|
93% |
94% |
90% |
Overall sales volume declined over the prior 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 March 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.
41 homes entered the Del Mar real estate market in March, less than half the number of new listings in February.
There were 171 Del Mar homes for sale at the end of March, 3% less than in February, the 4th month of inventory decline. At the current rate of sales over a 6-month period, this represents an inventory of 15.9 months for detached homes (compared to 12.3 last month), and 13.9 months for attached properties, down from 13.9 months at the end of February.
25 Del Mar homes went pending in March, 38% more than in February.
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.
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READ MORE:
Del Mar Homes for Sale | Del Mar Real Estate Market Report for February 2011
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
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