There is an amazing ocean-front home in Del Mar, consisting of 5 outbuildings (totaling 10,700 SF) which include a main home, 2 guest houses, pool, tennis court, health spa, theater, and a greenhouse, that has been on the market since July 2005 that is in escrow and due to close soon, if rumor, and the Union Tribune, are accurate.
Well it was listed at $50 million, which will about double the previous record for the highest price sale (at least publicly known). San Diego real estate is not known for being inexpensive, but this number makes our expensive stuff seem a bargain. No, it's not quite the new Bel-Air listing of $125,000,000 announced recently, nor Donald Trump's palacio in Palm Beach (also at $125 million I think), nor the $155 million estate being built in Montana.
The Del Mar home (which I have not seen but have driven by) contains all the opulence, luxury and superb finishes and materials one would expect, with fabulous views (and rare 120-feet of ocean-frontage protected by complex sea walls) made even better with disappearing glass walls. The Del Mar housing market is one of the most expensive in the county, along with Coronado, Rancho Santa Fe, and La Jolla, but even this is pretty astounding.
Guess I will have to be careful with the monthly stats I always report. This sale will really throw off the average price in Del Mar for May, or whenever it closes. Wonder what that will do to neighbors' values?
UPDATE JUNE 20, 2007 - well, the record is official. The property on Ocean Front Avenue in Del Mar closed on 5/30/07 at a record price for San Diego at $48,150,000 for a 10,700 SF home (well,multiple buildings). Pretty amazing. That $4,500 per SF. Hmmm, another billionaire in the area.
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