What’s the Value of My Del Mar Home?
Del Mar Home Sales for March 2022
Del Mar is a small coastal town in North San Diego County, and one of the more expensive communities. So far Del Mar holds the record for the most expensive property sold publicly per the MLS in San Diego County (around $48,000,000 in 2007). This Del Mar Beach Colony oceanfront estate was sold again for $43M in March 2020.
Current information on local Del Mar housing market conditions is important so buyers and sellers can make informed 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)
20 homes sold in Del Mar in March, up 33% from the 15 sales last month. Here's a summary of the activity:
Single Family Homes Sold
14 (up by 2); 25 Average Days on Market; Average Sales Price $5,045,864 (down 9%); Average Sale Price was103% of original asking price
Condos, Townhomes and Duplexes Sold
6 (up 100%); 17 Days on Market; Average Sales Price was $1,587,541 (up 42%); the Average Sale Price was 103% of original asking price.
Overall sales for March rose significantly from last month, with more single family detached homes sales and twice as many condo and townhome sales. The average sales price was lower for single family homes compared to last month, while the average price rose for condos and townhomes. Sales prices ranged from $660,000 to $10,500,000.
Average marketing time decreased below 1 month for single family homes. The average marketing time for the condos, townhomes and duplexes rose from last month to 17 days.
The median price for single family detached homes at $3,900,000 was 3% higher than last month. The median sales price for the 6 condo and townhome sales was $1,489,000 (double that of last month!).
Some buyers were able to negotiate money off the original list price of their home purchases. However, 12 (60%) ended up paying full price or more.
In March there was 1 Del Mar home on the market with an Active under Contract status, the same as last month.
The number of new listings in March dropped from 17 last month to 12. There were 11 homes that went pending (excluding homes that sold in March), compared to 12 last month.
The inventory was the same as last month with 21 homes for sale. At the rate of sales over the last 3 months, this represents an inventory of 1.4 months for single family homes (down from 1.8 months last month), and only 9 days for condos, townhomes and duplexes (there is only 1 listing as of this writing).
The Del Mar housing market continues to be a very strong seller’s market for single family homes, as well as for condos, townhomes and duplexes.
Be aware that, as with any statistic, 1 month does not establish a trend. A better picture will come from watching the Del Mar housing market over time, especially since market conditions continue to change. One cannot draw firm conclusions regarding pricing because of the extremes in sales prices of Del Mar properties, especially the higher price points, as well as a fairly limited number of sales.
Please reach out to me at (760) 830-1360 with any questions. I’m happy to discuss your specific housing needs, lifestyle, and budget, so we can create a plan to purchase your new Del Mar home, and/or provide the necessary market and equity information and market preparation guidance to help sell your Del Mar home.
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What’s my Del Mar Home Worth? Del Mar Real Estate Market Report February 2022
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