What’s the Value of My Del Mar Home?
Del Mar Home Sales for April 2021
Del Mar, a small coastal town in North San Diego County, is one of our more expensive communities. Del Mar holds the record so far for the most expensive property sold publicly in the MLS in San Diego County (at about $48,000,000 in 2007). This beautiful oceanfront estate was listed for sale again at $48M and sold in April 2020 for $43,000,000!
Up to date information on the local Del Mar housing market conditions helps buyers and sellers make educated decisions about Del Mar homes for sale. These statistics were obtained from the MLS (the data are believed accurate at the time this report was written, but are not guaranteed, and do not include private/non-MLS sales).
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Del Mar – Affluent Seaside Town (A Community Profile)
34 homes sold in Del Mar in April, another very substantial gain in sales by 62% from last month. Here's a summary of what happened:
Single Family Homes Sold
26 (up 100%); 58 Average Days on Market; Average Sales Price $3,324,908 (up 19%); Average sale was 96% of original asking price
Condos, Townhomes and Duplexes Sold
8 (no change); 24 Average Days on Market; Average Sales Price was $916,625 (down 25%); Average sale was 99% of original asking price.
Overall sales for April rose significantly again last month, with more single family homes sold, but the same number of condo, townhome and duplex sale. The average sales price was significantly lower for the single family homes compared to last month (no doubt due, in part, to the sale of 3 homes over $4M with 1 at $18M that raised the average), and was lower for condo, townhome and duplex sales. Sales prices ranged from $350,000 to $18,000,000. Marketing time was longer for single family homes but shorter for condos, townhomes and duplexes.
The median price for single family detached homes at $2,587,500 was 2% higher than last month. The median price for condos, townhomes and duplexes was $850,000, down 38% from March (the 6 sales last month of over $1M no doubt helped to raise that median price compared to April).
A number of buyers, on average, were able to negotiate 1 – 4% off the original list price on their home purchases. However, 65% of the buyers paid asking price or higher for their homes.
In April there were 2 Del Mar homes on the market with an Active under Contract status compared to 4 last month.
The number of new listings in April decreased from 24 last month to 19. Similarly, the number of Del Mar homes going pending (excluding homes that sold), at 17, decreased from 25 in March.
Inventory dropped again, although modestly, from last month with 35 Del Mar homes for sale, down by 4. At the rate of sales over the last 3 months, this represents an inventory of 2.2 months for single family homes (down from 4 months last month), and only 8 days for condos, townhomes and duplexes, a decrease from 16 days last month, with only 2 listings available at the time this report was written.
The Del Mar housing market is a strong seller’s market for buyers of single family homes, and a very strong sellers market for condos, townhomes and duplexes.
As with any statistic, 1 month does not establish a trend, so it’s important to watch the Del Mar housing market over a period of time, especially as the market continues to shift. One cannot draw firm conclusions regarding pricing, or other trends, because of the extremes in sales prices of Del Mar properties, especially at the high end, as well as the limited number of home sales this month.
Please give me a call at (760) 830-1360 with any questions. I’m happy to discuss your particular housing needs, lifestyle, and budget, and help you create a plan to purchase your new Del Mar home in 2021. If you are considering selling, I will provide the necessary market and equity information and market preparation guidance to help you sell your Del Mar home.
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READ MORE:
What’s my Del Mar Home Worth? Del Mar Real Estate Market Report March 2021
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