What’s the Value of My Del Mar Home?
Del Mar Market Report for November 2022
Del Mar is a small coastal town in North San Diego County. It’s also one of the more expensive beach-side communities. The most expensive property sold publicly in San Diego County, per the MLS, was in Del Mar (about $48,000,000 in 2007). This oceanfront estate sold again for $43M in November 2020.
Having current information on the housing market in Del Mar is essential as a buyer or seller in order to make informed buying and selling decisions about Del Mar homes for sale. These following statistics were obtained from the MLS (the data are believed accurate at the time this report was compiled, but are not guaranteed, and do not include private/non-MLS sales).
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Del Mar – Affluent Seaside Town (A Community Profile)
8 homes sold in Del Mar in November, 2 fewer sales than last month. Here's a summary of what happened:
Single Family Homes Sold
5 (down by 3); 13 Average Days on Market; Average Sales Price was $3,283,175 (up 1%); Average Sale Price was 96% of original asking price.
Condos, Townhomes and Duplexes Sold
3 (up by 1); 7 Average Days on Market; Average Sales Price was $701,333 (down 51%); the Average Sale Price was 99% of original asking price.
Overall sales for November decreased from last month, with fewer single family detached homes sales, but 1 more condo, townhome and duplex sale. The average sales price was slightly higher for single family homes compared to last month, but significantly lower for condos and townhomes. Sales prices ranged from $600,000 to $5,400,000.
Average marketing time was shorter for single family homes, as it was for condos, townhomes and duplexes.
The median price for single family detached homes at $2,888,000 was 1% higher than last month.
4 of the 10 buyers were able to negotiate the purchase prices of their homes. However, 4 paid asking price or more.
There were no Del Mar homes on the market in November with an Active under Contract status, compared to 2 last month.
There were 8 new listings in November, compared to 18 in October. 5 homes went pending (excluding homes that sold in November), compared to 4 in last month.
The inventory decreased by 7 from last month, with 34 homes for sale, following last month’s improvement. At the rate of sales over the last 3 months, this represents a supply of 4.6 months for single family homes (up from 4.2 months last month), and 2.1 months for condos, townhomes and duplexes (versus 2 months in October).
The Del Mar housing market continues to be a strong seller’s market for single family homes, and is a very strong seller’s market for condo, townhome and duplex buyers.
Remember that, as with any statistic, 1 month of data does not establish a trend. A better picture will emerge from watching the Del Mar real estate market over time, especially since market conditions continue to shift. One cannot draw firm conclusions regarding pricing because of sales price extremes of Del Mar properties, especially the higher price points, and the fairly limited number of sales.
Please reach out to me at (760) 830-1360 with your questions. I’m happy to discuss your personal housing needs, lifestyle, and budget. Then we can create a plan to buy your new Del Mar home. I can also provide the necessary market and equity information, and market preparation guidance, to help sell your Del Mar home if that is your plan.
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What’s my Del Mar Home Worth? Del Mar Real Estate Market Report October 2022
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