What’s My Del Mar Home Worth? Del Mar Real Estate Market December 2016

By
Real Estate Agent with Solutions Real Estate CalBRE License #01490977

What’s the Value of My Del Mar Home?

 

Del Mar ocean front homes for saleDel Mar, a small coastal town in North San Diego County, is one of the most expensive communities. Indeed, Del Mar currently has one of the most expensive homes for sale on the public market in San Diego County ($49M – on the market for 8+ years with several price changes, that was pending but is now again active), and holds the record for the most expensive property sold (at about $48,000,000). 

 

Up to date information on the local Del Mar housing market helps buyers and sellers make informed decisions about Del Mar homes for sale. Here are the statistics obtained from the MLS for Del Mar for December 2016 (the data are believed accurate at the time this report was written, but are not guaranteed, and do not include private sales). 

 

READ MORE:

 Del Mar – Affluent Seaside Town (A Community Profile)

 

13 homes sold in Del Mar in December 2016, down 19% from last month. Here's a summary of the activity:

 

TOTAL HOMES SOLD

13 (down 19%) 69 Days on Market, Ave. Sales Price $2,743,000 (up 12%), Ave. sale 92% of asking price

Detached Homes Sold
8 (down 27%), 90 Days on Market, Ave. Sales Price $3,791,875 (up 25%), Ave. sale 89% of asking price

Attached Homes Sold
5 (no change), 37 Days on Market, Ave. Sales Price $1,064,800 (down 17%), Ave. sale 97% of asking price

 

Del Mar home for sale

 

Sales volume for December decreased modestly for detached homes but did not change for attached. Average sale prices increased substantially for detached homes; this was, in part, due to the sale of 4 homes over $2M, with 1 selling for $18 million which raised the average substantially, as happened last month. Prices declined for attached homes on average. Average marketing time increased for both detached and attached homes.

 

The MEDIAN price for detached homes increased again, to $1,932,500 (up 5%), but declined to $910,000 (down 26%) for attached home sales in December.

 

 

Buyers were able to negotiate, on average, 3 - 11% off list price in December sales; 3 of the homes (23%) sold at or above asking price. Only 9% were cash transactions, compared to 31% last month.

 

In December there were 2 Del Mar homes on the market with a Contingent status, the same as last month (i.e., homes with offers being reviewed by short sale and REO lenders). 

 

10 homes entered the Del Mar real estate market in December, down 60% from November. The number of Del Mar homes going pending (excluding homes that sold) rose from 6 to 8 (up 33%).

 

There were 65 Del Mar homes for sale at the end of December, a decrease in inventory from last month by 16%. At the current rate of sales over a 6-month period, this represents an inventory of 4.3 months for detached homes (down from 4.4 months last month), and 2.7 months for attached properties, down from 3.5 months last month; the Del Mar housing market is a strong seller’s market for attached homes and a seller’s market for detached.

 

READ MORE:

How Important is Inventory when Buying or Selling? Very!!  

 

As with any statistic, 1 month of numbers does not establish a trend, so it’s important to watch the Del Mar housing market over a period of time. One should not draw any firm conclusions regarding pricing because of the extremes in sales prices of Del Mar properties, as well as the overall modest number of home sales each month. 

 

Search for Del Mar Homes for Sale

 

READ MORE:

What’s my Del Mar Home Worth? Del Mar Real Estate Market Report November 2016

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
California San Diego County Del Mar
Groups:
CALIFORNIA REAL ESTATE
Market Updates
SAN DIEGO Real Estate Agents & Loan Officers
Market Reports
HyperLocal Neighborhood and Community Posts
Tags:
del mar homes for sale
del mar home values
homes for sale in del mar ca
del mar real estate market
jeff dowler crs
oceanfront homes for sale in del mar
southern california relocation dude
del mar oceanfront homes for sale

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
1,702,517
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Every time I read one of your blogs I pack up and move in my mind Jeff Dowler 

Jan 10, 2017 04:08 PM #1
Rainmaker
3,729,910
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good evening Jeff.  Thanks for the information and market update for the Del Mar area of San Diego.

Jan 10, 2017 05:01 PM #2
Rainmaker
414,424
Steven Nickens
Elite Pacific Properties Maui - Wailea, HI
R(S)GRI ABR, Maui Real Estate Hawaii

Jeff, great information on Del Mar.  I love the area, perfect weather, on the ocean you can't go wrong. Jeff knows the North County of San Deigo real estate market.

Jan 10, 2017 06:18 PM #3
Ambassador
3,210,451
Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

I think it's going to happen some day Noah Seidenberg . Thanks!

Thank YOU for stopping in to comment Gabe Sanders 

What a nice compliment Steven Nickens . It's a beautiful area, but not for the faint of budget. But easy to visit and enjoy.

Jeff

Jan 11, 2017 10:25 PM #4
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
3,210,451

Jeff Dowler

The Southern California Relocation Dude - Carlsbad
What's my Carlsbad CA Area Home Worth??
*
*
*
*
Spam prevention

Additional Information