Del Mar Real Estate - Del Mar Market Report for April 2009

By
Real Estate Agent with Solutions Real Estate CA DRE #01490977

Del Mar real estate market report - Jeff Dowler

Del Mar is a small coastal town in North Diego County, just south of Solana Beach and north of La Jolla. Is has a reputation for being one of the most expensive towns in the county. Indeed, two of the most expensive homes for sale in the county are in Del Mar (at $50 million and $76 million), and it still holds the record for the most expensive property sold (at about $48,000,000). 

READ MORE: Del Mar - Affluent Seaside Town (A Community Profile) 

Having up to date statistics on the local Del Mar real estate market is important so buyers and sellers can make informed decisions. Here are the statistics obtained from the MLS for Del Mar for the month of April 2009 (the data are believed accurate but are not guaranteed, and do not include any private sales). 

There were 8 homes sold in April 2009 in Del Mar (5 detached and 3 attached). Here's a summary of the activity: 

 

    Total

   Detached

  Attached 

# Sold

8

5

3

Average Price

 $835,827 

 $1,165,443 

 $286,466 

Median Price

$875,000

$899,000

$250,000

Days on Market

102

111

87

Sale Price/List Price Ratio 

96%

94%

100%

The Poseidon Restaurant on the beach in Del Mar - Jeff DowlerThe number of homes sold dropped by 1 from the prior month. Detached homes sold ranged in price from $855,000 to $2.055 million (last month there was a $ million sale which pulled the average way up over $2 million). When comparing prior years we see sales in April for 2008, 2007, 2006 and 2005 as follows - 14, 20, 12, and 17 - a substantial decline in monthly sales, however it is consistent with the prior months in 2009.

Of the Del Mar home sales, 1 of the 5 detached homes was an REO; of the 3 attached homes, 2 were short sales and 1 was a typical sale, which resulted in a sale price/list price ratio of 100% (range from 96% to 104%, again showing that REOs and short sales often sell near or at asking price or above). 

44 Del Mar homes came on the market in April (34 detached and 10 attached), up 46% from March, and up 37% from 1 year ago.. 

There were 197 Del Mar homes for sale at the end of April 2009, up 16% from the prior month. At the current rate of sales over a 6-month period, this represents an inventory of 26.5 months for detached homes (about the same as last month), and 17.6 months for attached properties, up by about 2 months from March 2009. 

16 homes went pending in April (11 detached and 5 attached), the same as last month. With the increased inventory we see we can expect to see the absorption rate also increasing next month. 

As with any statistics, 1 month of numbers do not make a trend, so it is important to see what is happening over a period of time. At the moment, inventory is trending up, but sales volume is about the same that it has been since the beginning or the year. If you would like more information on the Del Mar real estate market, please let me know.

READ MORE:

Del Mar Real Estate - Del Mar Market Report for April 2009

Del Mar Real Estate - Del Mar Market Report for March 2009 and Quarterly Overview

Oceanfront Property in Coastal North San Diego County - Del Mar

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If I can provide more information about Del Mar, Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

Search for Homes Community Information First Time Home Buyers Relocation Services and more How to get in touch with me

All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

 

 

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